By Requirement

Suppliers by Verification Status Quickly identifying suppliers by their verification status is essential for assessing the reliability and credibility of each supplier concerning specific requirements.

Verification Status by Section Breaking down the verification status of suppliers based on specific sections or requirements allows you to see precisely which sections or requirements suppliers have met and which ones may still require attention. This granularity is crucial for identifying potential compliance gaps and areas of concern.

Supplier Information Table The supplier information table provides a comprehensive set of data for assessing supplier compliance.

Here’s how each component contributes to risk mitigation:

• Link to Supplier Profile Page: Accessing detailed supplier information allows for comprehensive evaluations and better-informed decisions.
• Supplier Name: Identifying suppliers facilitates tracking and communication, making it easier to address issues promptly.
• CH Registration Number: Verifying the legal identity of the supplier ensures you are dealing with legitimate entities, reducing the risk of fraud.
• UTR Number: Assessing tax compliance and legality helps in avoiding financial and legal risks associated with non-compliant suppliers.
• Compliance Level: Indicates the supplier’s adherence to industry standards and compliance requirements, ensuring they meet your specific criteria.
• Requirement Verification Status: Provides a granular view of compliance, showing the supplier’s verification status specific to each requirement. This helps in pinpointing areas of compliance and non-compliance.
• Requirement Question: Displays the specific requirement or question to which the verification status applies, ensuring clarity in assessing compliance.
• Requirement Owner: Identifies who verified the requirement (data sharing or proprietary), allowing you to understand the source of verification and reliability.
• Turnover: Assessing a supplier’s financial capacity and stability is vital for risk mitigation.

Detailed Requirement Assessment Gaining a deep understanding of each supplier’s compliance helps in conducting thorough risk assessments and ensuring that suppliers meet critical criteria.

Compliance Transparency By knowing the verification status for each requirement, you can identify gaps and work with suppliers to address them promptly. This transparency enhances overall compliance and reduces the risk of non-compliance issues.

Prioritisation With the breakdown of verification status by section, you can prioritise areas of concern, focusing on critical requirements that have not been met. This allows for targeted risk mitigation efforts in the areas where they are most needed.

In summary, the By Requirement tab offers a granular view of supplier compliance with specific requirements. This detailed information empowers you to make informed decisions, ensure supplier compliance and manage risks effectively within your supply chain. It provides the tools needed to identify compliance gaps, address issues promptly and prioritise risk mitigation efforts where they are most critical.