Supplier Risk Assessment Checklist Template
Download a Supplier Risk Assessment Checklist Template for
Excel
| Google Sheets |
Adobe PDF
Use this checklist template as an early step to ensure that your suppliers are reliable, stable, and capable of meeting their requirements. The checklist helps you organize your team's assessment process and information-gathering procedures. Enter each required task with a brief description, assign an owner, add due dates, and include any important notes or follow-up inquiries.
Check out this collection of vendor risk assessment templates for more resources to use when conducting a thorough risk assessment.
Supplier Risk Assessment Template with Scorecard
Download a Supplier Risk Assessment with Scorecard Template for
Excel
| Google Sheets
As a business or organization, you might need to evaluate the potential risks when working with a particular supplier in your larger supply chain. A supplier risk assessment template with a scorecard is a crucial part of this process. The template includes space to add key information about the supplier, such as their history, financial stability, and quality control processes. Assign a numerical and color-coded score to each factor, so you can compare and analyze the overall risk posed by the supplier. This scoring process will assist you in making informed decisions about working with the supplier and developing mitigation strategies to minimize potential risks.
Visit our vendor risk assessment guide to learn more and get access to other valuable resources.
Supply Chain Risk Assessment Template
Download a Supply Chain Risk Assessment Template for
Excel
| Google Sheets
Use this template to conduct a comprehensive risk assessment of your supply chain. This template includes sections on supply chain mapping, risk identification, risk evaluation, risk mitigation, and monitoring to ensure your organization is ready to take action on any supply chain disruptions. You can also use it to allocate resources appropriately based on your risk analysis.
Map out the different components of your supply chain and identify potential risks associated with each. Identify specific risks and categorize them based on impact and likelihood of occurrence. Evaluate risks to determine their overall effect on your supply chain. Develop strategies to mitigate those risks and reduce their impact. Finally, plan for ongoing monitoring to identify new risks and evaluate your risk mitigation strategies. By following these steps, you can use the template to help conduct a comprehensive risk assessment of your supply chain.
Check out our collection of supply chain operations management templates for more useful tools for your business or organization.
Visit our supply chain management basics article for more educational resources about supply chain logistics.
Supplier Security Risk Assessment Template
Download a Supplier Security Risk Assessment Template for
Excel
| Google Sheets
Use this supplier security risk assessment template to evaluate the security posture of your suppliers. The purpose of this template is to identify potential risks associated with the handling of sensitive information by the supplier and to evaluate the effectiveness of their security controls in mitigating those risks.
This template is a general guide and should be modified based on your company’s specific requirements and the type of information handled by the supplier. Most supplier security risk questionnaires include queries regarding security management, technical security, physical security, personnel security, and an overall risk assessment, but yours will vary based on your specific needs.
Read our integrated supply management article for more information and expert advice on supply chains, including horizontal and vertical integration.
Our collection of free ISO 27001 information security standard checklists and templates offers more tools to help assure a secure procurement environment for your business.
What Is a Supplier Risk Assessment Template?
A supplier risk assessment template is a tool for evaluating potential risks associated with a supplier. The template typically includes a series of questions and criteria to assess the supplier, such as financial stability, quality control, reliability, and legal compliance.
The goal of a supplier risk assessment is to help a company make informed decisions about which suppliers to contract with and to minimize the risks associated with the supply chain. The template can be customized to meet your specific needs and requirements.
What Is a Supply Chain Risk Assessment Checklist?
A supply chain risk assessment checklist is a tool for evaluating and identifying potential risks in a supply chain. It provides an ongoing process to assess your supply chain to avoid unforeseen risks. The checklist typically includes the following:
- Identify Critical Suppliers and Processes: Determine and prioritize which suppliers and processes are critical to your operations and would have the greatest impact if they failed.
- Assess Risk Factors: Evaluate the risk factors associated with each critical supplier or process, such as financial stability, geopolitical stability, natural disasters, and other potential disruptions.
- Evaluate Mitigation Strategies: Consider what you can implement to reduce risk, such as redundancy, diversification, or insurance.
- Prioritize Risks: Rank the risks based on their potential impact and likelihood of occurrence.
- Develop a Risk Management Plan: Create a risk management plan that includes the mitigation strategies, triggers for activation, and contingency plans. Learn more about risk management planning.
- Monitor and Review: Continuously monitor the risks and the effectiveness of the risk management plan, and periodically review and update the checklist as necessary.
Take the time to read about the key elements to consider when evaluating supply chain risks from the Cybersecurity and Infrastructure Security Agency for an excellent and comprehensive look at supply chain security.
Why Do You Need a Supply Chain Risk Assessment Checklist?
A supply chain risk assessment checklist is important because it helps organizations identify and prioritize potential risks in their supply chain. If the risks were to occur, they could have significant impacts on operations, reputation, and financial performance.
The checklist helps organizations to do the following:
- Identify potential risks and their sources, including disruptions in the flow of goods, raw materials, or components
- Assess the likelihood and potential impact of each risk
- Develop contingency plans to mitigate or manage risks
- Monitor and track the effectiveness of risk management strategies
- Ensure regulatory compliance and minimize potential liability
- Enhance overall supply chain resilience and maintain business continuity
Find valuable information and educational resources on the importance of routinely checking on supply chain risk management from the Cybersecurity and Infrastructure Security Agency.
Monitor and Manage Supply Chain Risks with Smartsheet
Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change.
The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed.
When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. Try Smartsheet for free, today.