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In the present dynamic environment, where changes are rapid and can have a major impact, organisations face a broad set of risks. At the same time, governments and society increasingly hold organisations responsible for who they do business with as part of their social responsibility and for ‘’ESG well-being’’. Any associated damage can be so great that it affects the organisation’s license to operate. Supplier risk management is no longer a nice-to-have, but essential for the survival of an organisation.
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Introducing our supplier risk management solution: Know your Supplier. Through this solution, your organisation receives more insights and transparency in its suppliers and related (ESG) supply chain risks. Risks may involve topics such as (operational) supplier performance, ESG risks and malpractices in the value chain, business continuity, fraud & bribery, security risk, money laundering, child labour, and other legal/organisational compliance requirements.
Increasing global supply chain complexity across industries and the convergence of a wide range of regulations (of which many are ESG related, e.g. the EU Directive on Corporate Sustainability Due Diligence) scrutinizing supplier relationships, have made supplier risk mitigation a key challenge. As the CSDD dictates; companies have an obligation to do due diligence that makes them more aware of the (potential) adverse effects of their activities in the value chain.
Multiple entities can become involved in the provision of a product or service, and organisations are increasingly being held responsible for understanding these upstream relationships. Therefore, it is crucial to not only know your 1st tier suppliers, but also other tiers as well (chain/network of suppliers), and from the start of the relationship until the end of the relationship.
The complexity and uncertainty of supplier network calls for a holistic framework that not only monitors and manages your supplier base via analysis on internal and external data sets, but also, allows you to turn those data sets into actionable insights using enriched algorithms and advanced analytics.
PwC’s Know Your Supplier framework is a comprehensive and practical Supplier Risk Management approach that:
PwC's Know Your Supplier maturity assessment will determine your supplier risk assessment process's current stage of maturity: the first milestone on the road to World Class
No formal structures, procedures nor tooling in place. Reliant on individual awareness and action.
Basic vetting and supplier risk procedures in place for some 1st tier suppliers. Manual processing and limited reporting.
Transparency and management of 1st tier supplier risks. Sound governance and procedures in place. Basic digitisation of monitoring and reporting.
All 1st tier and some 2nd and 3rd tier suppliers in scope. Well- established governance, policies and procedures. Risk mitigation mainly detective and corrective. Mostly digital risk assessments and follow ups.
Full transparency of supply chains. All risk types in scope and managed. Preventive measures defined. Full digitisation of risk monitoring and reporting. Uniformly deployed over entire company.
The assessment takes 5-10 minutes of your time, is free of charge and within 5 working days you will receive a personalised report on the maturity level of your company related to supplier risk management
Fill in the 'Know Your Supplier Maturity Assessment Survey' and have an optional free of charge follow-up
Senior Director Risk Consulting, PwC Netherlands
Tel: +31 (0)65 122 52 70
Xander de Jong
Senior Manager Supply Chain & Procurement, PwC Netherlands
Tel: +31 (0)63 927 78 20