Administration Supplier
Risk Assessment
Instructions: Complete all sections of this document to assess and document the potential risks associated with each of our suppliers. Accurate and thoughtful assessment is critical to our risk management strategy. Submit this document to the risk management team for further analysis and action planning.
Supplier Information
Supplier Name | | Length of Relationship | |
Type of Service/ Product Provided | | Annual Spend | |
Risk Assessment Criteria
Financial Stability: Evaluates the supplier's financial health to sustain long-term partnerships.
Supply Chain Reliability: Assesses the supplier's ability to deliver goods/services on time and handle disruptions.
Quality Compliance: Measures the supplier's adherence to quality standards and regulations.
Geopolitical Factors: Considers the impact of geopolitical risks where the supplier operates.
Technological Capabilities: Evaluates the supplier's technological advancement and its adaptability to change.
Risk Evaluation
Risk Category | Assessment | Comments |
Financial Stability | Medium | Stable but faces competition |
Supply Chain Reliability | High | Minor delays experienced last quarter |
Quality Compliance | Low | Consistently meets quality standards |
Geopolitical Factors | Medium | Operates in a region with political unrest |
Technological Capabilities | Low | Lacks investment in new technologies |
Overall Risk Rating & Justification
Medium. While Supplier demonstrates strong quality compliance, concerns about their supply chain reliability and the impact of geopolitical factors raise the overall risk rating to medium. Technological stagnation also suggests potential future risks in innovation and adaptation capabilities. |
Risk Mitigation Strategies
Strategy | Implementation Plan |
Diversify Suppliers | Begin sourcing similar components from an additional supplier to reduce dependency on Supplier. |
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Approval Signatures
Assessed by:
[Name]
[Position]
[Date]
Reviewed by:
[Name]
[Position]
[Date]
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