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The Risks that Manufacturing Firms are Facing and the Impact that Follows

Fusion Risk Management

The reach and criticality of global manufacturers impacts almost everyone. Manufacturers are responsible for sourcing and producing life-sustaining food, medicine, commodities, and goods that we rely on. Additionally, operating in a global environment leaves manufacturers vulnerable to the results of geopolitical tensions.

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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management (ERM) is critical for success in the modern business landscape. Your ERM program should encompass all aspects of risk management and response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters.

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5 Steps to Implement Enterprise Risk Management (ERM)

Reciprocity

Enterprise risk management is critical for business success. The fundamental components of ERM are evaluating significant risks and applying adequate responses. Factor analysis of information risk (FAIR) provides a common risk mitigation vocabulary to help you to address security practice weaknesses.

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What is Vendor Risk Management (VRM)? The Definitive Guide

Reciprocity

Vendor risk management (VRM), a part of vendor management, is the process of identifying, analyzing, monitoring, and mitigating the risks that third-party vendors might pose to your organization. Third-party risk management begins with due diligence before signing a contract, as with any risk management program.

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The State of AI for Businesses: Top Strategies and Risk Concerns

NexusTek

AI is being used by manufacturers to optimize production, to reduce costly waste, and to prevent profit-eroding downtime. AI can also help retailers to more accurately manage inventory, logistics, and delivery. A common concern relates to the potential risks of AI when used in the business context.

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Important KPIs for Successful Vendor Management

Reciprocity

Every risk management program should include risks posed by your vendors. Beware, however: vendor risk management is a complex process unto itself, requiring ongoing monitoring and measurement. What Are Vendor Risk Management Metrics? What Are the Most Common Vendor Risks? Compliance.

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How to Manage Supplier Risk and Performance in an Uncertain Global Economy

Risk Management Monitor

Essentially every company that manufactures goods today depends on other companies to supply the raw or value-added materials that go into their finished products. But following a deliberate series of steps can help you structure a solid program: Figure out what you want to accomplish with your supplier management program.