Part 2: Criticality and Extending the Reach of Compliance

In this special five-part podcast series on innovation in managing third party risk, I am joined by James Gellert, the Chairman and Chief Executive Officer (CEO) of Rapid Ratings International, which is sponsor of this special series. Our conversation will be on helping companies manage their third-party supply chains through financial health. The Rapid Rating approach is incredibly innovative, with both a series of products and services that should be considered by the compliance practitioner. In this Episode 2, we discuss the issue of criticality in supply chain and how to assess and manage that risk. Highlights include:How has the definition of criticality expanded?What does this mean for the supply chain professional or the compliance practitioner going forward?Innovation allows companies to manage all of those suppliers and all of those risks in a more cohesive way, creating more ways of doing more with less.If you can identify the risk direction of a company, then you’re able to survey a wider spectrum of suppliers and find the best ones to work with.