[author: Javier Gutierrez]
Your supply chain is most likely an instrumental part of your business’s unique value proposition.
While they have been vital for many years, their significance has grown even further recently. Technology changes have allowed companies, and their suppliers, to change their business processes and their working relationships radically as new commercial opportunities and threats emerge.
Understanding where a company ends and where its supply chain begins can be quite hard.
Responsibility for issues may not always be clear to everyone involved. This is especially the case when companies allow suppliers to make use of their own domain or when suppliers have access to their customer’s proprietary technology and data.
While companies take steps to limit their risk by undertaking comprehensive due diligence and asking suppliers to sign NDAs, there is scope for issues involving fraud, compliance, or cyber risk in such a complex commercial network.
This situation was highlighted in the recent KPMG Fraud Outlook 2022, which explored the experiences of over six hundred business executives in North and Latin America. Although the…
