Effective supplier risk management has become increasingly challenging due to evolving risks and regulatory requirements. While firms have long managed their suppliers, many struggle to do so effectively. Establishing a holistic supplier risk management approach can provide significant benefits beyond regulatory compliance, such as enhanced risk management, improved processes, and efficient resource allocation. Organisations are advised to take a unified approach to meet both current and emerging needs without repetitive efforts. Crowe UK's insights emphasize that a proactive and integrated supplier risk management strategy can help firms globally achieve greater operational resilience, sustainability, and cost-efficiency.
