Managing risk is one of the oldest preoccupations in business, and the rapidly accelerating pace of change produces new bogeymen for every new way of doing digital business. Helping harness the latest generations of enterprise technology solutions in order to help companies reduce risk in their supply chains, SAP Ariba’s Supplier Risk solution.
Businesses face risks every day in order to remain afloat, and supplier risk management is one essential factor to consider, according to SAP. However, it can be difficult to quickly understand information from multiple suppliers and make timely decisions.
SAP Ariba Supplier Risk enables companies to continuously monitor supplier risk and initiate the appropriate due diligence with their suppliers, in order to avoid unnecessary risk and prevent supply chain disruptions. The solution is designed to help buyers make smarter and safer decisions before purchase by making risk due diligence a natural part of the procurement process.
The solution can access risk intelligence data from over 500,000 sources, including news sites, government data, disaster information systems and other public and private sources, and can automatically monitor over 280 risk incidents. Moreover, supplier profiles, operations, risk profiles and more can be combined into a single yet comprehensive 360-degree view.
Founded in 1892 as the first credit reporting agency in Japan, Tokyo Shoko Research (TSR) has been providing insightful business analysis to Japanese firms for over 125 years. This week, TSR announced a new partnership with SAP Ariba, which will see SAP integrate data on more than 8.4mn Japanese companies covering over 200 evaluation criteria into the SAP Ariba Supplier Risk solution.