Supplier risk assessment strategy

Abstract

The aim of the study is to create an effective and standard risk assessment tool that provides the company with support and security in purchasing of new products. The goal was to create a tool that complements and standardizes risk assessment forms and shows rapid results. Using the procurement risk management system, the risk associated with a given product can be determined easily and in a short time. In the process, critical areas where hazards may occur can be clearly identified and the risk can be minimized if properly managed.