IFS is excited to announce the launch of the IFS Supply Chain Processes Check, an innovative tool designed to help suppliers gain insights into risks within their supply chains. As global product supply chains grow more complex, effective risk management is more critical than ever.
“In a landscape where customers and other stakeholders demand greater transparency, it is essential for companies to identify and manage associated risks in their supply chains," states Stephan Tromp, IFS Managing Director. "The IFS Supply Chain Processes Check not only verifies that companies have established robust processes to identify risks but also highlights improvement opportunities, ultimately enhancing business resilience and increasing customer trust."
A structured approach to assessing risks
With emerging challenges and heightened regulatory scrutiny, many enterprises worldwide face significant hurdles in implementing target-oriented risk management within their supply chains. The IFS Supply Chain Processes Check addresses these challenges by providing a systematic assessment of supply chain management systems, helping businesses identify commodity-related risks and facilitating constructive dialogue with supply chain partners.
Validated processes – trusted data
Key components of the IFS Supply Chain Processes Check include:
- The Commodity List: This comprehensive overview of critical raw materials and ingredients used by the company, their country of origin, and associated risk categories allows for an informed understanding of overall supply chain risks.
- The Validation Module: An assessment by an auditor or assessor evaluates whether the company maintains effective processes for managing supply chain risks. This module can be performed as a stand-alone assessment or combined with the IFS Certification or other audits.
The IFS Supply Chain Processes Check results offer valuable insights into current practices and indicate areas for development, ensuring companies meet both stakeholder expectations and evolving government regulations.
More IFS Supply Chain Solutions to come
The introduction of the IFS Supply Chain Processes Check marks the first product under the new brand, IFS Supply Chain Solutions. Under this brand, we will introduce further process checks and IT tools, all designed to assist companies in managing and monitoring supply chain risks effectively and ensuring compliance with regulatory requirements and stakeholder demands.
For more information on the IFS Supply Chain Processes Check,
- please visit the IFS Supply Chain Processes Check webpage or
- download the industry newsletter.