Opportunity and risk management using the example of the Supply Chain Act
A holistic risk management system is the basis for sustainable and efficient corporate management. In addition to the company's own circumstances, legal requirements must also be taken into account. One example of these is the German Supply Chain Act.
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Compliance and legal regulations represent an ongoing challenge for business processes and thus also affect the software solutions involved. Accordingly, the high adaptability of these solutions also lies in the possibility of flexible, modular additions for new circumstances (such as changed legal regulations).
A current example of this is the German Supply Chain Act (German: Lieferkettensorgfaltspflichtengesetz).
With the Supply Chain Act, corporate responsibility for the observance of human rights in supply chains is to be regulated for the first time. The law will take effect on January 1, 2023 for companies that employ at least 3,000 employees and are located in Germany. In a second stage from January 1, 2024, it will also apply to companies with 1,000 or more employees.
One of the core elements of the Supply Chain Act is the establishment of a risk management system to identify, prevent or at least mitigate the risks of human rights violations and environmental damage along the entire supply chain.
The existing opportunity and risk management software antares RiMIS® was supplemented by a Supply Chain Act module, which was created with nedyx®. The content consists of a questionnaire for the assessment of supply chain risks as well as evaluations of the answers and results in antares RiMIS®. Companies can have their suppliers fill out this questionnaire and will then find all information collected in antares RiMIS®. New risks can be uncovered and further measures can be recommended based on this information.
antares RIMIS® can be optimally extended by individual modules and additionally offers all existing benefits of the standard solution. With nedyx® an efficient and pleasant workflow for companies and suppliers was made possible.
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