This white paper is on innovation in managing third party risk, specifically around helping companies manage their third-party supply chains through assessing financial health. For this white paper I interviewed James H. Gellert, the Chairman and Chief Executive Officer (CEO) of Rapid Ratings International Inc. (RapidRatings), the sponsor of a special five part podcast series which ran on the Innovation in Compliance podcast on the Compliance Podcast Network.
Part I – Introduction
Why is managing your supply chain risk is so critical in today’s business environment? Supply chain risk management as a discipline that has been evolving significantly but still has a long way to go. Gellert began by noting that supply chain risk really means all third-party risk. These risks are getting more diverse from a geographic perspective as well as from a technology perspective. It can come from more aggressive mergers and acquisitions (M&A) activity, organic company expansion or an organization simply getting more creative with outsourcing and working with different kinds of companies for different solution sets. It also means that this group of third parties have the ability to…
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