Supplier Risk Management
Regulated organizations face increasingly complex supply chains and a growing number of suppliers using legacy systems. The result is that risks related to suppliers' processes and materials have grown in number and severity – including uncontrolled supplier changes that result in out-of-spec materials or non-conforming components that pose significant health hazards. Meanwhile, regulatory bodies are placing greater focus on upstream activities and consumers are demanding greater assurance of safe products.
For all of these reasons, life science organizations have made supplier risk management a key priority. Even so, many such efforts have had limited impact on preventing and mitigating supplier risk.