Cosmo Tech

Business Continuity Planning Software

Gartner Complimentary Report
Assess Supplier Business Continuity Plans for Risk Mitigation and Operational Resilience

Learn why Gartner experts are advising sourcing and procurement leaders to move beyond a check box approach to ensure their organizations are actively improving resilience.

Gartner research in 2020 found that almost three-quarters of sourcing and procurement leaders identified supplier risk management as the core process they anticipated “most significantly changing” as a result of the pandemic.

In this report, Gartner outlines their key findings:

  • “Supplier risk management and the stress-testing of supplier business continuity plans (BCPs) are now top priorities for chief procurement officers and other sourcing leaders.
  • Siloed approaches to risk identification and business continuity management mean that supplier risks are missed or not identified at a corporate level.
  • Most organizations still take a reactive and compliance-oriented “check box” approach to supplier BCPs, rather than a proactive one focused on aligning business requirements with supplier capabilities.
  • Improving supplier BCPs requires internal collaboration with business continuity management and enterprise risk colleagues, and external collaboration with strategic partners and service providers.”

 

© Gartner, Assess Supplier Business Continuity Plans for Risk Mitigation and Operational Resilience, Roberta Witty, Sarah Watt, Geraint John, Sam New, 1 March 2021

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

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About Cosmo Tech

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