Free Administration Supplier Risk Assessment Template

Administration Supplier
Risk Assessment

Instructions: Complete all sections of this document to assess and document the potential risks associated with each of our suppliers. Accurate and thoughtful assessment is critical to our risk management strategy. Submit this document to the risk management team for further analysis and action planning.

Supplier Information

Supplier Name

Length of Relationship

Type of Service/ Product Provided

Annual Spend

Risk Assessment Criteria

  • Financial Stability: Evaluates the supplier's financial health to sustain long-term partnerships.

  • Supply Chain Reliability: Assesses the supplier's ability to deliver goods/services on time and handle disruptions.

  • Quality Compliance: Measures the supplier's adherence to quality standards and regulations.

  • Geopolitical Factors: Considers the impact of geopolitical risks where the supplier operates.

  • Technological Capabilities: Evaluates the supplier's technological advancement and its adaptability to change.

Risk Evaluation

Risk Category

Assessment

Comments

Financial Stability

Medium

Stable but faces competition

Supply Chain Reliability

High

Minor delays experienced last quarter

Quality Compliance

Low

Consistently meets quality standards

Geopolitical Factors

Medium

Operates in a region with political unrest

Technological Capabilities

Low

Lacks investment in new technologies

Overall Risk Rating & Justification

Medium. While Supplier demonstrates strong quality compliance, concerns about their supply chain reliability and the impact of geopolitical factors raise the overall risk rating to medium. Technological stagnation also suggests potential future risks in innovation and adaptation capabilities.

Risk Mitigation Strategies

Strategy

Implementation Plan

Diversify Suppliers

Begin sourcing similar components from an additional supplier to reduce dependency on Supplier.


Approval Signatures

Assessed by:

[Name]

[Position]

[Date]

Reviewed by:

[Name]

[Position]

[Date]


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