“There will never be a world without risk”
Stephen Whyte – QADEX MD
How is this statement possible when the food industry carries out annual risk assessments on their suppliers to mitigate risk?
Are the audits enough to identify and prevent risk in global, continually evolving, supply chains? Afterall, what may have been compliant at the time of your risk assessment, may not be a week later!
In recent years there has been an increasing pressure for businesses to demonstrate transparency in their supply chain. The rise of the conscious consumer has them asking
- Who made my product?
- Was the raw material sourced responsibly?
- Does the product come from an ethical supply chain where people are protected?
Food safety risk assessments are business as usual in the food supply chain, but is it worth considering if your framework is robust and watertight?
Is there enough due diligence in the process to minimise risk?
Does it satisfy the questions consumers are asking?
Does it encompass the risk across all risk areas or have a singular focus on food safety or technical specifications?
Surely, to truly measure and manage risk in your supply chain, your Safety Executive must have a high level view of all risk perspectives – including corporate social responsibility in your supply chain?
Is there a solution?
At QADEX, we believe that simply focusing on food safety doesn’t give companies the full picture. To be able to mitigate risk and make informed decisions they must view risk from different perspectives. Management of risk is only possible if you have a full view of risk and only once this is achieved can you start measuring risk effectively. You can also honestly answer any questions consumers have about sustainable and responsible sourcing.
This is the reason STAR Index™ was introduced, initially to help the food and beverage industry, have full visibility of risk over 4 key areas: Sustainability, Technical, Agricultural and Responsible sourcing.
How STAR Index™ can help you manage risk
The STAR Index™ is a proven framework powered by QADEX who have a wealth of experience and knowledge helping the food industry with risk assessments, compliance and transparency.
The easy-to-use tool kit uses a RAG (Red, Amber, Green) measurement index to help you benchmark and see a snapshot of what risk is in your supply chain from 4 perspectives: Sustainability, Technical, (natural) Assets and Responsible sourcing.
It is the first and only solution that pulls together all relevant risk data into one simple to use dashboard.
The dashboard provides transparency of your supply chain and will assure the provenance of all of your products and where the risk areas are. Armed with this data you can ensure your supply chain is made up of suppliers who have responsible and sustainable practices.
This valuable insight provides one version of the truth, allowing you to target your resources where they are most needed.
STAR-Index assessment is completely configurable to match your business needs, with outcomes linked to actions.For example, if a score gives a RED result, you could highlight the need for a site visit immediately, whereas with a GREEN result, you may recognise they carry less risk so you may decide to send a supplier self audit questionnaire.
We don’t believe in a one size fits all approach. The STAR Index™ dashboard of insights is bespoke to what your business views as important – you have the power to drive the criteria that is measured against.
To find out how The STAR Index can help you map, manage, and mitigate risk click below: