A key to effectively managing supply chain risk is establishing a partnership and collaboration between all parties involved in the vendor risk management lifecycle. All too often, however, adversarial relationships and communication styles crop up and can impede progress and drive up costs for vendor assessments and risk management.
In this session, CORL Technologies shares their insights from collaborating with over 80,000 vendors and managing over 100 healthcare TPRM programs. We explore best practices that have been proven to drive efficiencies and reduce cost and risks by promoting better communication with vendors. Specifically, we provide guidance for:
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- Establishing effective relationships and processes with vendors
- Improving vendor response time for assessments
- Leveraging the power of existing data for vendor risk assessments
- Finding the best communication vehicle and assessment model calibrated to the vendor’s size and program maturity
- Managing and reporting on vendor risk remediation
- Coordinating legal requirements including SLAs and NDAs
- Soliciting feedback from vendors
- Workflow and process recommendations