Businesses can manage increasing supply chain risks by adopting robust vendor management programs

Organizations facing an expanding network of independent vendors should leverage genAI to mitigate risk

As businesses deal with the increasing network of interdependent vendors supporting their operations, it becomes imperative to monitor the vendor ecosystem to identify and mitigate supply chain risks that are increasing in complexity. Deepti Kharbanda and Rajeev Ranjan make a compelling case for organizations to “leverage automation and technology to improve the efficiency, accuracy and scalability of their vendor risk management process”, noting that organizations should adopt new strategies to mitigate vendor risks and maintain operational continuity. In addition to traditional tools and methodologies to manage third party risks, EXL leverages genAI and ML to analyze external market data on third party vendors.

Download this whitepaper to learn more about navigating vendor risk.