Supply Chain Digital Magazine May 2024 | Page 29

WHAT TECHNOLOGY IS AVAILABLE TO SUPPORT THIS STRATEGY ?

» Technology plays a vital role in supporting effective risk management by providing tools and platforms that enable organisations to manage a host of different scenarios . This includes the technology used to provide screening in a fast and efficient manner , ensuring a smooth onboarding journey for candidates and a quick and easy process for employers and referees . The rich candidate data collected in this unique timeframe is also beneficial , highlighting engagement levels and possible red flags . Ultimately , technology helps teams to identify and manage risks and to be transparent and open with clients , which supports a smooth onboarding journey for candidates and allows for a focus on continuous improvement .

WHAT VALUE CAN EFFECTIVE RISK MANAGEMENT BRING TO PROCUREMENT AND SUPPLY CHAIN ?

» Effective risk management can provide tangible benefits such as

cost savings along with improved supplier relationships which , in turn , supports better decision-making and business continuity . Successful risk management means reputation and compliance remain positive , bringing growth opportunities and strengthening performance in the market . supplychaindigital . com 29