Having worked in the food industry for over 25 years I know first hand the challenges the industry faces daily when it comes to risk assessments and compliance.
I started questioning, no doubt like yourselves, how it could be made simpler and less onerous. Along with like-minded team members we have set out to try and transform supply chain management and risk assessments.
Unfortunately, there will never be a world with no risk but we aim is to provide businesses with a simple to use framework to aid due diligence and get them ahead of the issues that arise.
This is how The STAR Index™ came into play. QADEX has 12 modules each helping automate multiple tasks involved when managing your supply base. However, technology only solves part of the solution and something more watertight was needed.
Let’s explore what the modern day challenges are surrounding risk and how STAR INDEX™ can help….
Historically, when it comes to risk mitigation, businesses across all sectors have had the task of managing their supply base against technical criteria. The focus has been on technical specifications and the quality of assurance of the products themselves.
However, in recent years there has been an unprecedented rise in awareness surrounding topics such as sustainability and modern slavery. In reaction to this consumers are driving change by demanding to know the origin of their products so that they can make informed choices. They want to know more about not only the product itself but asking “who made my product?” The introduction of the Modern Slavery Act in 2015 and measurable targets such as Sustainable Development Goals has caused a shift in focus. Businesses can no longer focus on just one singular area but must manage multiple risk perceptions on an ongoing basis.
It has now become business-critical for retailers and manufacturers to not only know who their tier one suppliers are but to have a cockpit view of risk across their entire chain. This level of visibility is not possible unless they identify and map their entire supply chain, after all, you can’t manage and measure a supply base without data.
With the complexity of modern global supply chains, this is often easier said than done! Sourcing teams face daily challenges as they juggle all the different areas that need their attention. This is often managed over many complicated spreadsheets and various platforms that tie people up in knots. Compliance within technical, specification, sustainable and ethical sourcing is often dealt with by many different teams using different systems, complicating it even further.
Technical and sourcing teams are asking themselves could it be simpler? Could it take less time and be more efficient leaving me time to do more proactive tasks to drive improvement? Are our current due diligence processes giving us enough level of protection? Is there a way of streamlining the use of platforms across all teams so that they have the same, accurate information in real-time?
The good news is that there is a simple solution to address these issues and we are excited to share it…
Introducing STAR Index™: a solution to streamlining supply chain management;
The STAR Index™ is a proven risk assessment framework to help large businesses map, view, manage and mitigate risk across the entire scope of their chain addressing all of the key areas that are critical to measure. It is the first and only suite of cost-reducing solutions pulling together all relevant data into simple to use dashboards all in one place making supplier management much simpler, quicker and effective.
Not only does the off-the-shelf tool kit enable users to manage 4 core areas; sustainable, technical, agricultural and responsible sourcing, it can be tailored for you to create your own criteria for ratings and bench-marking.
We can improve and add value to your existing ERP systems by working alongside them making it a viable option to consider. So there is nothing to lose… apart from the daily headache!
If you would like to explore how STAR INDEX™ can help your business, please get in touch with our team; firstname.lastname@example.org