Risk Management

Addressing Ethical Supply Chains One Step at a Time – From Intent to Action

Posted: 12/12/2018 - 01:18
This month, the U.K. government alongside the U.S., Canada, Australia and New Zealand, raised the bar for companies “to conduct appropriate due diligence in their supply chains to identify, prevent and mitigate human trafficking” to remediate modern slavery. It is no longer enough to just be aware and acknowledge that companies expect every supplier to sign a code of conduct – companies also need to demonstrate the action and the impact. 
 
This is where the rubber meets the road. 
 

How to Keep Bad Weather from Killing Your Logistics

Posted: 12/11/2018 - 04:15
Supply lines never look as vulnerable as they do when inclement weather strikes. At best, trucks face major delays as accidents and poor conditions make roads treacherous and, at worst, they suffer accidents of their own. Routinely, air carriers remain grounded while affected areas hunker down and airports close. Don’t think you’re safe even if you fall outside a storm’s high-impact area.

The Future of Plain Old Telephone Service: Hang Up or Pay Up

Posted: 11/30/2018 - 04:02
Plain old telephone service, also known as POTS, is old-fashioned copper wires connected to a standard telephone that provides the power and connectivity to the telephone service provider’s central switching system. Replacing POTS with new technology has become equivalent to replacing a typewriter with a laptop. New technologies in the market like VoIP and wireless can now offer telephone services at a much lower cost than POTS.  
 

Time to Worry about your Software Supply Chain?

Posted: 10/09/2018 - 00:07
Software has become crucial to every industry. Yet ensuring the software system you are buying or licensing is authentic and free from defect or malware is a challenge. The QA procedure in old-school manufacturing is to test a random set of newly delivered widgets for their compliance with approved specifications. But you can’t really take the same simple approach with software. 
 

Quinn and Hilmer: The Approach to Strategic Outsourcing

Posted: 08/03/2018 - 04:25
There’s outsourcing and then there’s strategic outsourcing. The distinction between the two seems obvious today but professors James Brian Quinn and Frederick G. Hilmer did groundbreaking work that identified and evaluated the core competencies that go into strategic outsourcing decisions in the early 1990s. Their findings are still practical today almost 20 years later. 
 

Right-Sizing Your Third-Party Risk Management Program

Posted: 06/27/2018 - 01:43

Third-party risk management is worth doing well—not only to protect your institution’s reputation, resources, and customers, but also because third-party risk management is part of safety and soundness exams. The effectiveness of a third-party risk management program is seen as an indicator of overall management capabilities. The design of third-party risk programs varies across institutions. 

There can be differences in:

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