Discover how Fourth Parties, a new capability on the Risk Ledger Supply Chain Security Platform, gives you instant visibility into the critical suppliers your suppliers rely on. Visualise your extended supply chain and uncover hidden concentration risk.
Security teams have long struggled with seeing the whole picture when it comes to supply chain risk. While traditional tools capture third-party information, they fall short in a few different ways.
Today’s solutions tend to look like this:
This is because businesses aren’t static and don’t work in a linear fashion.
Client and supplier relationships are complex and ever-evolving, and you a need a real-time, comprehensive overview of your suppliers’ suppliers to identify and understand changing critical dependencies and concentration risks.
Fourth Parties gives you visibility into your suppliers’ critical suppliers, plotted in our Network Visualisation tool for faster, deeper supply chain analysis.
Here’s how it works:
This isn’t just another field in the form or a line in a spreadsheet. It’s a shift in how supply chain risk is surfaced, leading to faster insights and action.
Fourth Parties is the answer to the growing complexities of supply chains and the inherent risks that come with it. It is designed to help busy teams understand who to work with, and how to work with them. By knowing your fourth parties you can uncover hidden dependencies and concentration risks, while enhancing incident response planning, and have all the information at hand to demonstrate comprehensive risk management to your board and stakeholders.
We recently saw it in action too. With Fourth Parties, a UK based water company found that one of their suppliers relied on a fourth party who was recently impacted by an incident. The team was able to get in touch with their supplier on the platform to understand the impact on the supplier and the extended impact on their own organisation.
By showing you who your suppliers depend on, you can pinpoint weak links and hidden dependencies, and start working with suppliers to improve supply chain security holistically.
Fourth Parties is now live on the Risk Ledger Supply Chain Security Platform , ready for clients to explore. Suppliers can also review their pre-populated Critical Suppliers list in their Risk Ledger profiles.
If you're interested in learning more about Fourth Parties risk analysis and how it can reveal supply chain dependencies and concentration risk, get in touch with us today.
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