Supplier Risk Management Solution

MetricStream Supplier Risk and Performance Solution combines third-party risk, supplier performance, compliance, audit, and continuity capabilities. It gives sourcing, procurement, risk, compliance, quality, and resilience teams one current view across suppliers and sub-suppliers. It manages supplier information, onboarding, due diligence, compliance, risk, performance, audits, continuity, issues, renewal, and offboarding.

Yes. Risk ratings, intelligence, incidents, compliance, assessments, contracts, and KPIs can be viewed together.

AI recommends tiers and assessment scope, drafts source-backed responses, interprets evidence, flags high-risk answers, and recommends remediation.

Organizations should monitor operational risk (supply continuity, quality, delivery), financial risk (credit, viability), cyber risk (security posture, data protection), regulatory risk (sanctions, compliance, anti-bribery), ESG risk (sustainability, labor practices), and reputational risk. Comprehensive coverage across all these risk types helps prevent supply chain disruption. 

Software helps with multi-tier supplier risk visibility by mapping each critical supplier and sub-supplier to the products, processes, locations, and assets that depend on them. With those links in one place, it can show where several tiers lead back to the same supplier or site. That is how hidden dependencies and concentration risk come to light, and it is difficult to do across tiers in a spreadsheet. 

According to customer responses and the GRC Journey Business Value Calculator, MetricStream's Supplier Risk and Performance Solution has delivered an 80% reduction in supplier onboarding time and a 90% reduction in the time and costs required to complete supplier assessments and identify risk.

MetricStream's Supplier Risk and Performance Solution manages supplier screening and onboarding through a structured process that qualifies, segments, and ranks suppliers based on attributes such as country, annual spend, product or service category, criticality, and revenue. Risk and compliance assessments or audits are triggered automatically based on configurable rules. Supplier information is validated through alerts from reliable internal and external sources, and the frequency of ongoing monitoring is defined based on each supplier's risk category.

MetricStream's Supplier Risk and Performance Solution integrates with industry content providers to validate supplier information on an ongoing basis. Data feeds cover politically exposed persons (PEPs), sanctions lists, adverse media, financial status, credit ratings, regulatory compliance, cybersecurity risks, and sustainability ratings. Organizations can subscribe to supplier-specific alerts based on risk rating or criticality, and the platform automatically triggers risk assessments or logs issues when alerts are received or risk thresholds are breached.

MetricStream's Supplier Risk and Performance Solution supports multiple risk assessment types covering reputational risk, financial risk, strategic risk, bribery and corruption risk, legal risk, IT risk, sustainability risk, business continuity risk, and information security risk. Built-in assessment templates can be modified to reflect specific business requirements. Suppliers can respond to assessments through a self-service portal, and risk scores are calculated automatically based on their responses.

MetricStream's Supplier Risk and Performance Solution enables organizations to conduct compliance assessments aligned with ABAC mandates, FCPA, PCI-DSS, HIPAA, the HITECH Act, codes of conduct, information security standards, social accountability requirements, and anti-slavery regulations such as the UK Modern Slavery Act. Certifications and attestations are collected and stored in line with regulatory requirements. Information security assessments can leverage the Shared Assessments Standardized Information Gathering (SIG) questionnaires.

MetricStream's Supplier Risk and Performance Solution defines supplier performance metrics based on contracts and policies and tracks key performance indicator (KPI) scores covering cost, delivery, service, and quality dimensions. Performance and risk data is consolidated from internal systems, audits, assessments, and content providers into supplier scorecards that allow organizations to compare performance across suppliers and product or service types. Preferred suppliers can be identified and benchmarked over time, and suppliers can monitor their own performance through dedicated dashboards.

MetricStream's Supplier Risk and Performance Solution enables multiple types of supplier audits, including compliance audits, quality audits, safety audits, IT audits, environmental audits, social responsibility audits, and sustainability audits. Suppliers are selected for audit based on risk scores, screening results, and parameters such as criticality and country. Audit processes—from information gathering and scheduling through fieldwork, reporting, and issue remediation—are accelerated through structured workflows and configurable checklists.

MetricStream's Supplier Risk and Performance Solution enables organizations to capture and track supplier business continuity plans and monitor supplier responses to emergencies and critical events. If a supplier risk threshold is breached or an incident occurs, automated alerts and notifications are sent to relevant stakeholders—including affected business units and customers. Emergency mass notification capabilities support rapid communication and implementation of business continuity plans during a supply chain disruption.