Supplier Audit Management

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This case study provides an insight into the issues surrounding auditing of suppliers.

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Supplier Audit Management

  1. 1. 1/1/2011CASE SUPPLIER AUDIT MANAGEMENTSTUDY www.riesgoriskmanagement.com | Ben oguntala, LLB, LLM
  2. 2. INTRODUCTIONYour organisation has a number of suppliers and the numbers seem to grow per project. Usingwww.riesgoriskmanagement.com service is a web based solution that will allow your organisationto extend your minimum requirements to your suppliers and assessment is carried out on that basis.The results of which are reported to your organisation in real time.THE REQUIREMENTSYour requirements can range from specific performance requirements to generic industry standards,the following standards can be catered for: 1. ISO27001 – information Security standards 2. Data Protection Act 3. SOX 4. ISO90001 5. Bespoke policy 6. Bespoke minimum standard 7. FSA vendor management 8. PCI DSS 9. Others
  3. 3. YOUR CURRENT AUDIT FRAMEWORKYour current Audit framework may impact your ability to manage your vendors, an effective vendormanagement will start from the point in which supplier are engaged by your business units andfinish with an audit report that reflects on their compliance level. Suppliers on- Assessment Compliance Audit schedule Report boarding •New •Fitness •Contract •Self test • Red •old •Risks •Right of •Physical •Amber audit •Green 1. Supplier on-boarding – new and old suppliers all captured on one single platform and accessible to your other business units that need to know about suppliers 2. Assessment – various teams can assess the fitness for purpose as well as risks associated with each supplier and maintain the database accordingly 3. Compliance – prior to approval, all stakeholders ensure the supplier complies with the requirements. This stage determines the standard of audit compliance required and will be the basis of future audits. 4. Audit schedule – the audit schedule will emerge from the contracts and right of audit schedule. The schedule will allow your organisation to audit to supplier at any given interval as well as frequency. The audit can be physical or self audit and reports automatically loaded on to the tool. 5. Report – the audit report are instantly reported on the site and the results are scored as Red, Amber or Green.CONTACT DETAILSBen OguntalaBen.oguntala@riesgoriskmanagement.com07812 039 867

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