Third Party Risk Among Top Priorities with Executives
Blog by Julie Urlaub, Founder and Managing Partner at Taiga Company
In the 80s, 90s and the early part of the 2000s, the mainstream business world was primarily on a supply journey to drive efficiencies in procurement functions. Some of the more notable companies, many of whom we still work with in our sustainability consulting today, saw a leverage opportunity in consolidating and even outsourcing what they considered transactional functions and non-critical supply. Fast forward to today and you will find these same organizations are reevaluating their business risk with these distant third party relationships.Research shows that over 92 percent of executives now rank third party risk as a top business sustainability priority. After years and even decades of outsourcing and offshoring, monitoring and surveillance has become essential to today’s sustainable supply chain. Whether a question of supply disruption, a quality issue, or negative 3rd party business practices affecting the stability of the company, supply chain visibility is receiving needed and long overdue business recognition. And now, this attention is coming straight from the top. Industry Week’s article, Prescriptions for Supply Chain Success, explores ways “to ensure that quality is being built early on in the process versus back-end testing“. Click here to continue reading.
Home to one third of the earth's trees, the Taiga is the largest land-based biosphere and encircles the globe. Its immense oxygen production literally changes the atmosphere and refreshes the planet. It is this continuous renewal that has shaped Taiga Company's vision to drive similar change in the business world. Taiga Company seeks to be the "oxygen for your business".