Supplier Risk and Performance Solution
Prevent Supply Chain Disruptions by Effectively Managing Supplier Risks, Performance, and Compliance
Measure Your Program Outcomes
Source: Based on MetricStream customer responses and GRC Journey Business Value Calculator
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Reduction in the time and costs required to complete supplier assessments, and to identify risk
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Reduction in supplier onboarding time
Accelerate Your Business with Effective Supply Chain Risk Management
The MetricStream Supply Chain Risk Management (SCRM) solution enables organizations to effectively manage, monitor, and track multiple stages of their supplier relationships. Built on the MetricStream Platform, the solution extends across your global supplier network, aggregating and mapping supplier and sub-supplier data for comprehensive transparency. The solution facilitates thorough assessments and audits of suppliers, thus maintaining a reliable pool of suppliers for each category of product or service. Through powerful reports and dashboards, organizations gain quick and comprehensive insights on their supply chain which then can be transformed into actionable business intelligence to support decision-making.
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How Our Supply Chain Risk Management Solution Helps You
Effectively Manage Supplier Information and Documentation
Easily consolidate and rationalize supplier information within the supplier portal, including goods or services provided, contact information, contracts, associated business units, certifications, spend, country, performance scores, and risk or compliance issues.
Streamline Supplier Onboarding Due Diligence
Effortlessly manage supplier screening and onboarding, as well as new engagements with existing suppliers. Automate supplier risk scoring for further categorization. Screen and validate supplier information with the help of alerts from reliable internal or external sources.
Continuously Monitor Suppliers for Risks, Compliance, and Data Security Issues
Validate information on suppliers and gain insights into their operational and security risks, compliance, performance status, and sustainability ratings with the help of feeds from industry content providers. Review automated alerts, trigger risk assessments, and log issues for remediation.
Establish Supplier Compliance with Regulatory Requirements
Assess supplier compliance with ABAC mandates, FCPA, PCI-DSS, HIPAA, the HITECH Act, codes of conduct, information security, social accountability, anti-slavery, and other compliance requirements. Collect certifications and attestations in line with regulatory requirements.
Monitor Supplier Performance with Supplier KPI Scores
Define and monitor supplier performance metrics based on contracts and policies. Assess and track each supplier's key performance indicator (KPI) scores (e.g. cost, delivery, service, quality). Incorporate supplier performance and risk data from various systems, departments, content providers, and processes like audits, assessments, and inspections.
Ensure Supply Chain Resilience with Effective Business Continuity Management
Enable an effective business continuity management program in compliance with industry standards. Capture and track supplier business continuity plans and response to emergencies and critical events.
Conduct Supplier Audit Assessment for Better Assurance
Accelerate audit processes, ranging from information gathering, to audit planning and scheduling, field work, reporting, and issue remediation. Enable various types of supplier audits, including compliance audits, quality audits, safety audits, IT audits, environmental audits, social responsibility audits, and sustainability audits.
How Our Supply Chain Risk Management Software Solution Benefits You
- Enhance awareness of supplier risks by validating supplier information with leading industry content providers
- Improve supplier consolidation and rationalization, as well as visibility into the businesses, spend, assets, and risk exposure associated with each supplier
- Gain higher confidence in sourcing and negotiation decisions with the help of historical data on supplier performance
- Build business resilience through streamlined supplier risk assessments aligned with business continuity management
Frequently Asked Questions
MetricStream's Supplier Risk and Performance Solution delivers a unified, real-time view of supplier risks, compliance, and performance across complex global supply chains. It simplifies monitoring of third- and fourth-party relationships, automates risk assessments, and streamlines compliance with global regulations. The solution helps organizations reduce supply disruptions, protect brand reputation, and build more resilient supplier ecosystems.
According to customer responses and the GRC Journey Business Value Calculator, MetricStream's Supplier Risk and Performance Solution has delivered an 80% reduction in supplier onboarding time and a 90% reduction in the time and costs required to complete supplier assessments and identify risk.
MetricStream's Supplier Risk and Performance Solution manages supplier screening and onboarding through a structured process that qualifies, segments, and ranks suppliers based on attributes such as country, annual spend, product or service category, criticality, and revenue. Risk and compliance assessments or audits are triggered automatically based on configurable rules. Supplier information is validated through alerts from reliable internal and external sources, and the frequency of ongoing monitoring is defined based on each supplier's risk category.
MetricStream's Supplier Risk and Performance Solution integrates with industry content providers to validate supplier information on an ongoing basis. Data feeds cover politically exposed persons (PEPs), sanctions lists, adverse media, financial status, credit ratings, regulatory compliance, cybersecurity risks, and sustainability ratings. Organizations can subscribe to supplier-specific alerts based on risk rating or criticality, and the platform automatically triggers risk assessments or logs issues when alerts are received or risk thresholds are breached.
MetricStream's Supplier Risk and Performance Solution supports multiple risk assessment types covering reputational risk, financial risk, strategic risk, bribery and corruption risk, legal risk, IT risk, sustainability risk, business continuity risk, and information security risk. Built-in assessment templates can be modified to reflect specific business requirements. Suppliers can respond to assessments through a self-service portal, and risk scores are calculated automatically based on their responses.
MetricStream's Supplier Risk and Performance Solution enables organizations to conduct compliance assessments aligned with ABAC mandates, FCPA, PCI-DSS, HIPAA, the HITECH Act, codes of conduct, information security standards, social accountability requirements, and anti-slavery regulations such as the UK Modern Slavery Act. Certifications and attestations are collected and stored in line with regulatory requirements. Information security assessments can leverage the Shared Assessments Standardized Information Gathering (SIG) questionnaires.
MetricStream's Supplier Risk and Performance Solution defines supplier performance metrics based on contracts and policies and tracks key performance indicator (KPI) scores covering cost, delivery, service, and quality dimensions. Performance and risk data is consolidated from internal systems, audits, assessments, and content providers into supplier scorecards that allow organizations to compare performance across suppliers and product or service types. Preferred suppliers can be identified and benchmarked over time, and suppliers can monitor their own performance through dedicated dashboards.
MetricStream's Supplier Risk and Performance Solution enables multiple types of supplier audits, including compliance audits, quality audits, safety audits, IT audits, environmental audits, social responsibility audits, and sustainability audits. Suppliers are selected for audit based on risk scores, screening results, and parameters such as criticality and country. Audit processes—from information gathering and scheduling through fieldwork, reporting, and issue remediation—are accelerated through structured workflows and configurable checklists.
MetricStream's Supplier Risk and Performance Solution enables organizations to capture and track supplier business continuity plans and monitor supplier responses to emergencies and critical events. If a supplier risk threshold is breached or an incident occurs, automated alerts and notifications are sent to relevant stakeholders—including affected business units and customers. Emergency mass notification capabilities support rapid communication and implementation of business continuity plans during a supply chain disruption.
MetricStream's Supplier Risk and Performance Solution uses AI and machine learning to quickly identify supplier issues based on relationship patterns and recommend appropriate issue classifications. Once identified, issues are investigated to determine root cause, and both interim containment actions and long-term corrective and preventive actions are managed through the platform. The effectiveness of remediation is verified before issues are closed, and a structured process governs supplier termination and offboarding in cases of contract breach or non-compliance.
