IFS Launches Supply Chain Processes Check for Risk Control
IFS has launched a new evaluation called the Supply Chain Processes Check, which aims to assist businesses in managing and mitigating risks in their supply chains. The assessment checks if a firm is able to analyze commodity-related risks and is carried out on an annual basis. The overarching goal is to reduce disruption, address issues, and prevent fraud.
With the assessment, firms are able to control supply chain risks, verify information for partners, and monitor compliance with EU and local legislation. It also features collaboration with other audits and enables companies to provide commodity information through the IFS Database.
In order to use the Supply Chain Processes Check, businesses must contract an IFS approved certification body or assessment provider. For internal preparations, firms have to declare relevant raw materials using the free IFS auditXpress Neo Software. An auditor’s role is limited to validating data and providing an improvement plan, which firms must implement. For partners, the final report and confirmation letter are stored in the IFS Database. Firms must repeat the process annually to comply.
In his comments, IFS Managing Director Stephan Tromp pointed out this initiative’s importance by saying that “…in an environment where customers and stakeholders expect more transparency, businesses also need to actively manage and identify supply chain risks.”
The Supply Chain Processes Check is integrated into the large IFS Supply Chain Solutions portfolio, which also includes the ESG Check Module and the Carbon Footprint Module. These tools enable firms to improve risk management and compliance practices.
The adoption of this new check will improve resilience, compliance, and trust with supply chain partners.
