Moody's Analytics: Supplier Risk Detection Investment On the Rise
New Moody's Analytics’s research into third-party risk management shows that the threat to reputations is a key driver of investment in supplier risk detection.
Key findings include:
• 69% of businesses say they do not have the necessary visibility over their supply chains to uncover risk in their organizational networks to avoid reputational harm.
• 70% of businesses are growing their investment in third-party risk management.
• 74% rated their third-party risk management sophistication as either poor or mediocre.
Businesses pointed to a range of factors driving these assessments: a lack of data, difficulty evaluating every organization in a supplier network, and the responsibility for supply chain visibility being spread across departments.
Read more insights from Keith Berry, Moody's Analytics and Tina Gravel, Quantexa in this article on the Outlook Series and check out the full Moody's research.
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