Corporate – Supply Chain Risk Management

Evaluating risk throughout the supply chain is becoming a common business practice across all sectors. Whether you are in manufacturing, consumer products, real estate or the financial sector there are suppliers required to support your business. Supply disruptions are inevitable. Understanding your supplier’s financial status, how that impacts you and your business and what tools and processes you can implement to develop a strategy to mitigate risk is critical in today’s business.

Rapid Ratings’ products and services provide the supplier Financial Health Ratings (FHRs) for publicly traded suppliers. In addition we have developed a unique ability to secure and evaluate private company financials, so clients can assess all prospective and current suppliers on a common basis.

Although a financial evaluation of your supply base is very important there is more to Supply Chain Risk Management. It requires, assessing, evaluating, monitoring and managing your risk.

Whether risk evaluations are conducted at supplier selection, on-boarding or with your established supply base, Rapid Ratings can work with you. We can provide you with our products and, if you wish, we have the in-house expertise to collaborate with your team to build and implement a unique risk management solution; evaluate current processes, advise on and share best practices, and develop a risk strategy. We will help incorporate our products with your internal processes to create a comprehensive and integrated risk management solution.

Review of Supply Chain Risk Management Position

For a Procurement Leaders Insight insert that further explores supplier financial risk and describes Rapid Ratings and how it can help you, please click here.