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Enhancing SupplierPortal with supplier risk and action management

Greenstone has recently updated its supply chain sustainability software solution SupplierPortal with enhanced supplier risk management and corrective action functionality.

This provides SupplierPortal users with a joined-up and fully automated approach to identifying high-risk suppliers, engaging with suppliers and remediating supply chain risk.

5 steps to managing supplier risk and compliance

Understanding risk and compliance across your supply chain is now essential for any business. By successfully measuring and understanding supplier compliance can ensure that risks are identified, managed and mitigated.

Below, Greenstone outlines five key steps to help you shape your supplier due diligence process to ensure that you are managing your suppliers effectively.

Collecting and managing supplier compliance data - the questions to ask

There is no doubt that there is more data in the world than ever before. But more data isn’t necessarily better, especially if there isn’t a system or process to manage it fully.  Whether you want to monitor supplier’s information, identify potential areas of risk or manage your suppliers more efficiently, having the right data will make this easier for you.

To help you gather the relevant data from your suppliers, and make the best use of it, here are some of the questions to ask.

Eurostar improves supply chain transparency with SupplierPortal - case study

Eurostar is the only high-speed railway service connecting London with Avignon, Brussels, Lille, Lyon, Marseille and Paris. All its trains traverse the Channel Tunnel between the United Kingdom and France. Since it started in 1994, Eurostar has carried over 150 million passengers across the Channel.

The challenge

As a business working across a range of destinations for over twenty years, Eurostar has always had a strong sense of responsibility to the environment and the communities in which it operates.

SupplierPortal expansion - contract management

Greenstone, a leading provider of sustainability, supply chain and ESG software solutions, is updating its SupplierPortal software to make it even easier for clients to manage their suppliers. We have listened to client feedback and seen the increasing need for all-encompassing supplier management processes and software.

The result is the introduction of more ‘Buyer’ (client) functionality, which will ensure that all suppliers and contracts can be managed in one place, and a risk-based approach can be applied to the gathering and analysis of specific supplier information.

Why Sustainable Supply Chains Matter

This article was recently published on Environmental Leader. 

Environmental managers and chief sustainability officers are increasingly looking to their supply chains to conserve natural resources and reduce carbon emissions.

Considering supply chains are responsible for up to four times the greenhouse gas emissions of a company’s direct operations and many suppliers operate in water-stressed areas of the globe, this makes sense from an environmental savings standpoint.

To this end, we’ve seen major corporations like Apple push for more rigorous environmental standards and renewable energy use across its supply chain — and publish regular supply chain audit reports detailing suppliers’ progress — and Nike creating an entirely new apparel supply chain company that will “embed sustainability and transparency into the business.”

State of Supplier Management 2016

In the current non-financial reporting landscape there is a heightened focus on understanding your supply chain. As a result, organisations are increasingly evaluating the performance of their suppliers against a wide spectrum of non-financial criteria and monitoring the associated risks.

In order to better understand what is driving this behaviour and how companies are identifying and mitigating supply chain risk, Greenstone conducted the State of Supplier Management 2016 survey.

Supplier Portal Blog Series Part 2: Environment

Companies are increasingly discovering that environmental and energy-related supply chain risks are both significant and material to their short and long term operational prosperity. With such issues now an everyday topic of conversation, the need to ensure environmental supplier compliance is becoming a central part of business strategy.

How to manage supplier data efficiently and accurately

As a buyer, there’s a good chance you are juggling data, left, right and centre. You’re trying to keep on top of your supplier data, while also having to compare supplier performance and monitor supplier compliance.

But it’s not an easy task for suppliers to manage these data requirements either. On top of supplying their products or services, suppliers are increasingly expected to process countless requests for data. Often they have to calculate their carbon, waste and water footprints, generate reports for general business use and share this information with all of their customers to demonstrate a level of compliance.