HICX: Making the most of supplier information for risk
Costas Xyloyiannis, CEO, HICX, a supplier experience management platform, explains how organisations can make the most of supplier data to manage risk
What was once ‘nice to have’ information has been defined by law. As concern grows around modern slavery, GDPR, conflict minerals and climate change, governments and related third parties are demanding, with regulatory backing, that businesses ensure ethical supply chains.
To mitigate regulatory and reputational costs, organisations need robust, accurate and extensive supplier information. For those with large complex supply chains, this is no mean feat. But apart from alleviating risk, getting your supplier information ducks in a row can also drive value.
So, how can organisations take full advantage of the information their suppliers provide?