Know Your Vendor

Managing supply chain risk starts with knowing who is in your extended vendor network
 

Being in the dark about your extended vendor network may increase brand and compliance risk

Increasing global supply chain complexity across industries and the convergence of a wide range of regulations scrutinizing vendor relationships have made brand risk mitigation a key challenge. 

Multiple entities can become involved in the provision of a single service, and organizations are increasingly being held responsible for understanding these downstream relationships.

It’s no longer enough to only know your direct third party vendors—transparency into the full vendor network is now necessary.

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As global supply chains increase in complexity so too does an organization's exposure to risk. Learn how PwC's Know Your Vendor solution can help.

A robust surveillance solution using large data sets and advanced analytics 

The complexity of monitoring vendors and the layers of sub-vendors they work with calls for robust surveillance that can integrate and conduct link analysis on large sets of internal and external data. 

PwC’s Know Your Vendor solution is a persistent monitoring solution that:

  • Identifies vendors
  • Performs enhanced due diligence on vendor networks
  • Quantifies the risk surrounding vendors
  • Reveals areas of risk to consider mitigation measures

The benefits of knowing your vendors, and your vendor’s vendors

Organizations that adopt a more analytics-focused approach to managing vendor-associated supply chain risk stand to:

  • Enhance mitigation of potentially costly reputational and regulatory risk
  • Reduce exposure to fraud, corporate social responsibility issues, and adverse media
  • Gain data-driven operational insights
  • Reduce intellectual property exposure
  • Realize potential cost savings through persistent, full-population monitoring of third-party relationships

Powered by PwC’s Strategic Risk Data Lake

Our proprietary Strategic Risk Data Lake integrates disparate data sources and fuses them together into actionable intelligence to simplify decision making and risk mitigation. It integrates with legacy systems and processes to provide a broad and deep view of vendor relationships, including previously unknown ones.

Research and insights

Contact us

Jeff Hunter
Strategic Risk and Trust Solutions Leader
Tel: +1 (703) 918 4511
Email

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