In this week’s Red Flag Friday, Raj Kohli, Managing Director at DCR, highlights one of the most common red flags he sees in third-party risk management: organisations relying on nothing more than a supplier list ranked by criticality in a spreadsheet.
Real third-party resilience means actively monitoring supplier health, having clear escalation plans when things go wrong and regularly stress-testing your dependencies - not just knowing who your critical suppliers are.
Concerned your third-party risk management approach might look like this?
Get in touch with our team to discuss how we can help you build a more effective and resilient third-party risk framework.