D&B services facilitated customized supplier and vendor risk assessments basis business responsibility and sustainability reporting. This helped the company with adherence of reporting guidelines.
The company was required to adhere to the reporting guidelines of the country which could be facilitated by conducting customized vendor and supplier risk assessments in a limited time. The challenge was also to conduct assessments on 480 vendors from India and globally.
The company faces internal challenges in customizing vendor and supplier risk assessments based on BRSR and global standards. This requires significant resources and coordination among departments to evaluate 480 vendors accurately and efficiently. The process can prove to be cumbersome and time consuming and would require the expertise of a data analytics, ESG evaluation team to deliver in time.
Externally, the company had the compulsion of adhering to India's reporting guidelines within a short timeframe, assessing 480 vendors quickly. This involves effective communication with suppliers and navigating diverse regulatory landscapes to ensure compliance with both Indian and international standards.
D&B as a well positioned global partner for ESG assessments, guided the company in designing an integrated, customized questionnaire to meet local and global standards for ESG compliance. D&B’s extensive data, combined with support from our managed services team, provided a comprehensive solution for them. This included factual data-based ESG rankings, validated data for reporting, and enhanced vendor ESG awareness and Corrective and Preventive Actions (CAPA).
Product
Customized Credit Assessment Model
Industry
Pharmaceuticals
Function
Vendor & Supplier Assessments
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