Supply Chain Resilience
Assess and mitigate supply chain partner business resilience risks
Supply chain resilience assessments enable you to understand how prepared your suppliers are to handle disruptions that could negatively impact your business. This includes evaluations of their incident response, business continuity, and disaster recovery plans. However, assessing supply chain resilience can be complex and time-consuming – especially if you’re relying on spreadsheets to manage the process.
The Prevalent Third-Party Risk Management Platform includes unified capabilities for assessing, analyzing and addressing weaknesses in supplier business resilience plans. This enables you to proactively work with your supplier community to prepare for pandemics, environmental disasters, and other potential crises.
Key Benefits
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Centralize visibility into supply chain risk management, including business continuity plans and related risks
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Make it easy for your team to tackle the most critical issues first with clear risk scores for each supplier
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Save critical time in a crisis by automating supplier assessment collection, analysis and risk remediation
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Be better prepared for pandemics, environmental disasters, and other supply chain disruptions with centralized visibility into your entire supplier base
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Meet auditor and board requirements for business resilience planning
The 2023 Gartner Market Guide for Supplier Risk Management
Get the latest insights on the SRM market, what you can expect it to do in the short term, and which solution providers can enable your program.
Key Features
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Supplier Pre-Screening
Rapidly pre-screen suppliers using a library of continuously updated risk scores based on inherent/residual risk, assessment results and real-time reputational monitoring.
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Contract Lifecycle Management
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle, ensuring vendors comply with business resilience and continuity requirements.
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Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps 4th-party dependencies across your supply chain.
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Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks and determine the scope of subsequent supplier risk assessments.
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Business Resilience Assessment
Leverage Prevalent's built-in business resilience assessment questionnaire to understand supplier incident response, disaster recovery and communications plans. Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
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Central Risk Register
Normalize, correlate and analyze results from multiple assessments for unified supply chain risk reporting and remediation.
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Virtual Third-Party Risk Advisor
Leverage a conversational AI trained on billions of events and more than 20 years of experience to deliver expert risk management insights in the context of industry guidelines such as NIST, ISO, SOC 2 and others.
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Built-in Remediation Guidance
Take actionable steps to reduce supplier risk with built-in remediation recommendations and guidance.
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Document & Evidence Management
Store and manage supply chain partner business continuity, disaster recovery and communications plan documents, evidence and more for dialog and attestation. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.
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Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended vendor ecosystem.
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Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to any regulation or framework. Demonstrate to auditors and the board that you have a plan to address vendor supply chain disruptions.
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Risk Reporting
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Who Wins
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Procurement
Ensure that new vendors are prepared to meet their contractual requirements in the face of unplanned disruptions.
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IT Security
Add context to cybersecurity assessments and automate the scheduling, collection, analysis, management, and remediation of vendor risks in a central platform.
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Risk Management
Demonstrate compliance to auditors and prove to the board you have plans in place to address supply chain failures.
Supply Chain Risk Management: The Definitive Guide
SCRM is increasingly raised as a board-level topic as business continuity concerns and product lifecycle management take on more important roles. Get started with these best practices for tackling supply chain risk.
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Template/ToolkitThe Supply Chain Resilience Toolkit
Get 9 essential resources for ensuring supply chain resilience during uncertain times.
White Paper6 Strategies to Reduce Supplier Reputational Risk
Discover which reputational risks to watch out for, what penalties to avoid, and how to automate...
On-Demand WebinarManaging Risk Throughout the Supplier Lifecycle
The volume, variety, and velocity of third-party relationships across an organization's supply chain create a challenging...
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Ready for a demo?
- Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
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