Supply Chain Risk Management (SCRM) is the identification, analysis and mitigation of risk when outsourcing to third party vendors.
Your assets are exposed to potential risk whilst outsourcing business services, solutions and/or products throughout the lifecycle of all supplier engagements.
Note, SCRM may also be referred to as Third-Party Risk Management (TPRM).
Choosing the right supplier can make or break your business. The wrong supplier can reduce your revenue and disrupt operations. However, they may also open you up to legal liability, negatively impacting your reputation with customers, partners, stakeholders and within the your industry sector. In a recent study, up to 89% companies have stated to have suffered a cyber breach in their supply chain within the past 5 years.
Typically we work collaboratively with a wide range of stakeholders including:
- Chief Information Security Officers (CISO)
- Procurement
- Legal
- Transformation Specialists
- Data Protection Officers
- Risk and Compliance
- IT Operations
HIPPA
ISO Information and Cyber Security Standards
CCPA
SOC Reporting
NIST CSF
NIST 800-53
GDPR
NYDFS
PCI-DSS
Shared Assessments SIG
Security Trust Assurance and Risk (STAR)
EU AI Act
Cyber Essentials
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