Supply Chain & Third Party Risk Management

ITGRC Advisory Ltd. delivers Supply Chain & Third-Party Risk Management Services to help organizations effectively identify, assess, and mitigate risks across vendor networks and supply chains. Our services integrate compliance with Environmental, Social, and Governance (ESG) principles, as well as other regulatory frameworks, ensuring your supply chain meets modern standards for security, privacy, resilience, compliance, and ethical practices.

Supply chain and third-party risks extend beyond financial and cybersecurity threats to include environmental, social, and governance concerns. Our services address these multifaceted challenges to ensure compliance and protect your organization’s reputation.

Key Features and Benefits of Supply Chain & Third-Party Risk Management

Key Features:

Comprehensive third-party risk assessments incorporating ESG compliance.
Monitoring of vendor adherence to global standards like GDPR, ISO 27001, SOC 2, NIS 2.0, DORA, and ESG reporting frameworks.
Tailored governance frameworks for supply chain sustainability and ethical business practices.
Incident management and risk mitigation for supply chain disruptions and non-compliance.

Key Benefits:

ESG Alignment: Ensure suppliers and vendors meet ESG requirements, including carbon neutrality, ethical labor practices, and governance standards.
Regulatory Compliance: Achieve adherence to GDPR, HIPAA, PCI DSS, and sector-specific laws, while integrating ESG reporting obligations like GRI, SASB, and TCFD.
Supply Chain Resilience: Identify vulnerabilities and mitigate risks, ensuring continuity and efficiency.
Reputation Management: Minimize reputational damage from non-compliance or unethical practices in your supply chain.

Description of Supply Chain & Third-Party Risk Management Services

ITGRC Advisory Ltd. provides a holistic approach to managing third-party risks and supply chain compliance, addressing regulatory, ESG, and operational challenges.

Vendor Risk Assessments:
- Evaluate vendor compliance with cybersecurity, privacy, and ESG requirements, including ISO 14001 (environmental management) and SA8000 (social accountability).
- Review vendor contracts for clauses related to data protection, sustainability, and ethical practices.
- Assign risk scores based on compliance with ESG and regulatory frameworks.
Supply Chain Risk Mapping and ESG Integration:
- Analyze supply chains for environmental impact, ethical sourcing, and governance risks.
- Ensure suppliers comply with ESG reporting standards, including GRI, SASB, TCFD, and emerging regulations like the EU Corporate Sustainability Reporting Directive (CSRD).
- Identify critical supply chain dependencies and assess risks for compliance failures or operational disruptions.
Ongoing Monitoring and Reporting:
- Implement systems to continuously monitor vendor compliance with GDPR, NIS 2.0, DORA, ESG, and anti-bribery laws like the UK Bribery Act.
- Develop dashboards and metrics to track vendor performance, ESG contributions, and risk levels.
- Facilitate periodic ESG and regulatory audits to ensure ongoing alignment with compliance requirements.
Compliance Management:
- Align third-party risk management processes with global and sector-specific standards, such as ISO 27001 for information security, PCI DSS for payment security, and HIPAA for healthcare.
- Integrate ESG compliance frameworks into third-party management programs, ensuring ethical labor, reduced emissions, and governance standards.
Third-Party Governance Frameworks:
- Design governance frameworks that incorporate ESG principles alongside traditional risk management practices.
- Develop clear policies and procedures for onboarding, monitoring, and terminating vendor relationships based on compliance and ESG criteria.
Incident Response and Risk Mitigation:
- Prepare incident response plans that address supply chain disruptions, cybersecurity breaches, and ESG non-compliance.
- Mitigate risks related to environmental violations, labor exploitation, and governance failures through targeted action plans.
Training and Awareness Programs:
- Educate employees and vendors on ESG requirements and global compliance standards.
- Provide training for procurement, legal, and IT teams to enhance awareness of supply chain risks and compliance obligations.

Additional Benefits of Supply Chain & Third-Party Risk Management Services:

ESG and Compliance Synergy: Integrate ESG principles with existing regulatory frameworks to meet investor, customer, and stakeholder expectations.
Tailored Solutions: Customized assessments and frameworks to address unique supply chain challenges and compliance goals.
Enhanced Visibility: Gain insights into third-party and supply chain compliance with ESG and regulatory standards.

With ITGRC Advisory Ltd., your organization can develop a sustainable, compliant, and resilient supply chain while effectively managing risks across vendors and third parties. Contact us today to explore our Supply Chain & Third-Party Risk Management Services and elevate your operational integrity.

Stay in touch

office@itgrcadvisory.com

ITGRC ADVISORY LTD.

590 Kingston Road, London,

United Kingdom, SW20 8DN

company number: 12435469