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Are We Speaking the Same Language?

An Integrated Approach to Supply Chain Risk Management

The Internal Audit Foundation, in collaboration with Grant Thornton, issued a survey to identify and define organizations’ current supply chain risk management practices to assist in supporting a return-to-basics methodology using common terminology across first, second, and third line functions. The feedback, which included responses from chief audit executives to managers, highlighted the need for this methodology and the development of a common terminology to strengthen vulnerabilities and response times.

 

The resulting report, “Are We Speaking the Same Language? An Integrated Approach to Supply Chain Risk Management,” outlines four key areas where organizations fell short early in the current pandemic, five steps to help organizations return to basics, and four invaluable benefits of taking an integrated approach moving forward.

 

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