Supplier assessment (also called vendor assessment) evaluates a supplier’s performance, capabilities, and compliance with specified criteria, often encompassing quality, sustainability, and ethical practices. It involves gathering data on suppliers’ capabilities, quality, delivery, financial health, compliance, sustainability, and other important attributes. These supplier assessments help companies to determine the most qualified suppliers that pose the lowest risks.
Difficulty in tracking and ensuring suppliers' adherence to environmental standards, leading to high carbon footprints and unsustainable use of resources.
Challenges in monitoring labour practices across the supply chain, including workers' rights, safety standards, and fair wages.
Ensuring suppliers comply with anti-corruption laws, ethical business practices, and transparent reporting mechanisms.
Credibl's platform enabled automated tracking workflows to capture suppliers' environmental and social practices, saving companies an average of 30% in monitoring costs.
Utilizing AI, the platform offered predictive risk assessment tools that helped identify potential ESG compliance risks before they escalated, reducing ESG-related incidents by up to 40%.
Companies could benchmark their supply chain ESG performance against industry standards, facilitating improved reporting and decision-making.
This module facilitated better communication and collaboration between companies and their suppliers, leading to an increase in supplier compliance rates within the first year.
Advanced analytics provided actionable insights into ESG performance, with a dashboard that consolidated data from thousands of suppliers, enabling real-time monitoring and reporting.
This module facilitated better communication and collaboration between companies and their suppliers, leading to an increase in supplier compliance rates within the first year.
Strengthen your supply chain by identifying and mitigating potential risks early, ensuring business continuity and resilience.
Ensure that your suppliers adhere to global and local regulations, reducing the risk of legal complications and fostering responsible business practices.
Promote sustainability within your supply chain by encouraging suppliers to adhere to environmentally-friendly and socially-responsible practices.
Foster stronger relationships with suppliers through open communication and collaborative efforts towards achieving common ESG goals.
Gain a competitive edge by developing a supply chain that meets the increasing demand for sustainable and ethical business practices.
Enhance your brand’s reputation by showcasing a commitment to responsible sourcing, attracting conscious customers and partners.
Smoothly integrate new suppliers, ensuring sustainability compliance
Centralized collection system for data monitoring and improvement
ducate and guide suppliers with best ESG and sustainability practices
Follow latest news and updates from the world of sustainability and ESG
Attract investors, and enhance reputation with ESG advisory.
Enhance reputation, and attract investors with ESG consulting.
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