The Shared Assessments Program, the member-driven leader in third party risk assurance, today issued “Adaptive Risk Management for Complex Supply Chains,” a new best practices resource for Third Party Risk Management. This paper provides a foundation for a more robust style of TPRM management – one that applies complex adaptive systems to the field of risk management.
“Complex Supply Chains, also known as Chain Outsourcing, are now the rule rather than the exception,” notes Bob Jones, Senior Advisor, The Santa Fe Group. “The inter-related nature of complex supply chains can exert significant impacts across the chain. There are implications for organizations that increase the urgency around the need to better understand improvements to bolster supply chain risk management processes.”
The paper focuses on how to prepare against patterns of cascading failure to improve organizational resilience. The paper:
1) Discusses supply chain risk and the increased demands that complex supply chains place on outsourcers and providers.
2) Provides strategies and tactics for building and applying complex adaptive solutions to your own Third Party Risk Management (TPRM) program.
3) Serves as the foundation for a series of related resources for practitioners from the Best Practices Complex Supply Chain Project team.
By applying complex adaptive risk management systems to existing TPRM efforts, risk managers are beginning to gain a new foothold on what needs to happen to better adapt to the challenges presented by highly complex supply chains.
- You can download the briefing paper at: https://sharedassessments.org/papers/
- You can find practitioner, C-suite, and board level resources for complex supply chain risk management and other TPRM challenges at: https://sharedassessments.org/learn/
About the Shared Assessments Program
As the only organization that has uniquely positioned and developed standardized industry resources to bring efficiencies to the market for enterprise risk management for more than a decade, the Shared Assessments Program has become the trusted source in third party risk assurance. Shared Assessments offers opportunities for members to address global risk management challenges through leadership, best practices, tools, training and special interest groups. Join the dialog with peer companies at www.sharedassessments.org