Who should use this standard assessment
Supplier onboarding is a key assurance stage for businesses to map the core information of their supply chain. The aim is to gather general information on a supplier, such as their relationship to your company, company status, basic accreditations held for their industry, insurance information. This creates the foundation of the information required to begin to understand supply chain risk, and conduct further, more specific, investigation.
Organisations that wish to understand risk and compliance within their supply chain can use this standard assessment is available within Rizikon Assurance. As supplier onboadring is typically carried out across the whole supply chain, Rizikon is an ideal platform for managing the large volumes of assessments such as this.
How this Standard Assessment was developed
While many organisations have their own version of an onboarding assessment, they all typically share much of the same content. Areas that differ tend to be topics of particular concern, such as Health and Safety for a company in the construction industry.
This onboarding assessment has been created by working with many organisations across a broad selection of industry sectors to find the common questions asked and the key information required at the initial onboarding stage, while still maintaining a minimum level of depth in particular assurance areas of concern.
Questions, sections and scoring
The structure of the Onboarding assessment is based industry standard questions. There are 7 main sections: Company information, Insurances, Health and Safety, Environment, Quality, Commercial and CSR & Equal Opportunities. Questions in each of the above are largely conditional, meaning that only around 50 questions need be answered, depending on previous answers, which makes the assessment relatively quick to complete.
The questions are scored on a tiered basis – answers can be provided that are either scored: Okay, Low-, Medium- or High-risk throughout parts of the assessment. The overall assessment score is initially based on the highest individual question score given, which helps highlight the most important issues within an unassessed or unfamiliar third party. Scores can then be manually adjusted by an assessor to take into account context and further information which can be provided. A report view will also indicate the necessary remediation actions needed to reduce their overall risk score.