Supply Chain Security Risk Management
Modulo supply chain security risk management and compliance (SCS) solutions enable users to gather, manage, and report data related to multiple SCS compliance regimes. Modulo Risk Manager™, a Governance, Risk, and Compliance (GRC) software platform, applies standard industry practices to improve efficiency and lower costs associated with the U.S. Customs-Trade Partnership Against
Terrorism (C-TPAT), Canada’s Partners in Protection (PIP), and the security component of the EU’s Authorized Economic Operator (AEO) program, among others.
In a data-driven global business environment, the largest cost of compliance is often the cost of independently managing programs with overlapping requirements. Few of the SCS information requirements that rely on supplier solicitation are exclusive to security practices, and Modulo’s integrated approach enables users to benefit from a data-mapping design that streamlines information gathering and reporting.
Supply Chain Security Intelligence
Going beyond solicitation, Modulo’s weighted scoring is critical to achieving compliance with the unique element of SCS initiatives. The risk mapping exercises are the most complex aspects of C-TPAT- and AEO-modeled programs due to their requirements to perform supplier and supply chain threat and vulnerability assessments. Compliant practices involve documented risk management
approaches; automated surveying, weighting, and scoring capability; dashboard and drill-down views; and continuous monitoring. Government overseers also require active supplier management in order to continuously lower overall risk scores.
The 5 Step Risk Assessment Process, a C-TPAT program update in 2010, presents a structured, intelligence-based approach to managing supplier risk. Participants must gather threat intelligence and perform analysis that identifies suppliers’ vulnerabilities and demonstrates to CBP an understanding of how risk factors develop into threats. In addition, the 5 Step requires supplemental information that goes beyond the program’s basic Business Partners requirements. Supplier solicitation methods may vary; but they must be effectively managed and analyzed in the context of suppliers’ operating environments and transit modes. Modulo Risk Manager™ simplifies this process by ensuring that self-assessment scores incorporate the factors that governments increasingly require, including country-of-origin risk, organized supply chain crime trends, and vulnerability to theft and tampering.
How Modulo can help:
- Adhere to and apply industry best-practices
- Automate Third Party Risk Management processes end-to-end
- Scale to manage hundreds to hundreds of thousands of vendors and suppliers
- Monitor workflow and progress to stay ahead of potential issues
- Consolidate risk data by department and vendor type
- Report risk and compliance assessment results
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White Paper on Supply Chain Security Risk Management
Improving Supply Chain Security For Better Business Governance
Supply chains magnify enterprise risk. This paper examines the common risks presented by third party suppliers, the options available to organizations to streamline assessment programs, particularly how to approach both cybersecurity supply chain security risk management within a GRC framework.