A Premiere Tool for Measuring Risk in Your Supply Chain
Organizations with excellent risk management programs realize that their supply chains represent an area where risks are critical to understand, but difficult to assess and measure. Understanding and measuring supply chain risks is important because they directly affect business continuity, liability and reputation, and as a result, the bottom line.
We firmly believe in the adage, “What gets measured gets managed.” Ethisphere’s Supplier Risk Quotient (S-RQ™) is a very cost effective tool for measuring risk in your supply chain so it can be better managed. The S-RQ assesses the rigor of a supplier’s ethics and compliance, risk management and sustainability programs. It also focuses on the critical risk areas of: legal and compliance practices and experiences, employment practices and general viability indicators. The assessment can be shared with customers, boards of directors and other stakeholders to show the performance of the organization.
The S-RQ is available in multiple languages, and in two variants: one tailored for larger more sophisticated supply chain members, and one tailored for smaller less sophisticated supply chain members.
THE SUPPLIER RISK QUOTIENT TOOL CAN ASSIST YOU WITH CONFLICT MINERALS REGULATIONS COMPLIANCE
Ethisphere has developed several questions that can help organizations assess the ‘reasonable country of origin inquiry’ required by the U.S. conflict minerals regulations. These questions can be launched to your relevant suppliers separately or in conjunction with the entire set of S-RQ questions. Organizations can use a powerful management dashboard to identify concerns in their suppliers’ responses to the conflict minerals questions.
ENHANCED & STANDARD OPTIONS
Two levels of reports are available for the S-RQ: the “Standard” level and the “Enhanced” level:
- Self-assessment against the standardized assessment data
- In-depth assessment of responses, including description of directional performance, comparisons against benchmarks, and a numeric overall score
- Very affordable for assessed organizations
- All the features of the Standard product: self-assessment, benchmark assessment, numeric score, plus
- Third-party verification of responses provided through in-depth review of requested documents
The assessment is comprised of two main sections: demographics and risk assessment.
S-RQ ASSESSMENT DESIGN
- Demographics, including organization size, location, etc.
- Program in place (15%)
- Legal, compliance & business practices (35%)
- Employment practices (25%)
- Viability indicators (25%)
For additional information on S-RQ or the RQ family of products, please contact Ethisphere Institute by completing the form found here.