SYSTEM AND METHOD FOR A SUPPLIER RISK INDEX

A method of determining a supplier risk index (SRI) for a supplier. The method includes: determining an inherent risk rating of the supplier based on risk attributes of the supplier; performing a control assessment of the supplier to determine a control assessment result; quantifying other risk attr...

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Bibliographic Details
Main Authors CONNELL, Jim, SINGH, Dolly K, KASIBHATTA, Chandrashekar D, SHARP, Stephanie
Format Patent
LanguageEnglish
Published 27.02.2020
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:A method of determining a supplier risk index (SRI) for a supplier. The method includes: determining an inherent risk rating of the supplier based on risk attributes of the supplier; performing a control assessment of the supplier to determine a control assessment result; quantifying other risk attributes; and calculating the SRI, by a processor, based on the inherent risk rating, the assessment result, and the other risk attributes in order for an organization to make better informed supplier selection decisions and reduce supplier risk.
Bibliography:Application Number: US201916542820