Supplier Risk Management Software

As a life science organization's network of suppliers grows, so do the risks to supply, product and supplier quality. Choose the risk management software that can manage risk throughout the lifecycle of a supplier and the sourcing process.

Regulated organizations face increasingly complex supply chains and a growing number of suppliers using legacy systems. The result is that risks related to suppliers' processes and materials have grown in number and severity – including uncontrolled supplier changes that result in out-of-spec materials or non-conforming components that pose significant health hazards. Meanwhile, regulatory bodies are placing greater focus on upstream activities and consumers are demanding greater assurance of safe products.

For all of these reasons, life science organizations have made supplier risk management a key priority. Even so, many such efforts have had limited impact on preventing and mitigating supplier risk.

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Supplier Management Videos

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Free Supplier Management Resources

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Industry Brief: How to Successfully Manage Your Suppliers and Ensure Product Safety and Compliance
Data Sheet: MasterControl Supplier
Solution Overview: MasterControl Supplier Excellence Overview

Supplier Risk Challenges	MasterControl Solutions
Disjointed Systems: A lack of standard risk analysis methodologies and supplier risk assessments results in enterprise-wide waste of time, money and resources.	Integrated System: MasterControl brings together all risk-related data and documentation, including those related to an organization's suppliers, in a single location. MasterControl's scheduled reporting and search capabilities provide insight into, and easy access to, supplier risk assessment and mitigation activities. Using the solution with MasterControl Supplier provides ready access to supplier risk files and supplier risk assessment types, scorecards and dynamic trending, and automates actions when needed.
Inconsistent Risk Assessments: In environments where a supplier risk assessment may be performed but is not standardized, risk evaluations may vary from one assessor to the next. Whether an appropriate action is taken depends on the particular assessor, meaning similar issues may be treated differently.	Standardized Risk Analysis Process: MasterControl ensures that a single system is used to collect and manage risk-related activities, and that corporate risk tolerance thresholds are employed and followed for risk-related activities across the enterprise. Using the solution with MasterControl Process enables implementation of standardized risk calculation tools and methodologies.
Disconnected Processes: The use of manual systems often results in the creation of separate data repositories (e.g., risk analyses and corresponding CAPAs), making it difficult to track and record comprehensive documentation.	Connected Processes: MasterControl gives personnel across departments and locations a simple and efficient method for participating in supplier risk assessment and mitigation activities. MasterControl Risk provides electronic workflows and signatures for managing risk activities and documentation, and enables users to leverage a risk-based approach in supplier-related quality events, supplier qualification activities and other processes.

Supplier Risk Challenges

MasterControl Solutions

Disjointed Systems:

A lack of standard risk analysis methodologies and supplier risk assessments results in enterprise-wide waste of time, money and resources.

Integrated System:

MasterControl brings together all risk-related data and documentation, including those related to an organization's suppliers, in a single location. MasterControl's scheduled reporting and search capabilities provide insight into, and easy access to, supplier risk assessment and mitigation activities. Using the solution with MasterControl Supplier provides ready access to supplier risk files and supplier risk assessment types, scorecards and dynamic trending, and automates actions when needed.

Inconsistent Risk Assessments:

In environments where a supplier risk assessment may be performed but is not standardized, risk evaluations may vary from one assessor to the next. Whether an appropriate action is taken depends on the particular assessor, meaning similar issues may be treated differently.

Standardized Risk Analysis Process:

MasterControl ensures that a single system is used to collect and manage risk-related activities, and that corporate risk tolerance thresholds are employed and followed for risk-related activities across the enterprise. Using the solution with MasterControl Process enables implementation of standardized risk calculation tools and methodologies.

Disconnected Processes:

The use of manual systems often results in the creation of separate data repositories (e.g., risk analyses and corresponding CAPAs), making it difficult to track and record comprehensive documentation.

Connected Processes:

MasterControl gives personnel across departments and locations a simple and efficient method for participating in supplier risk assessment and mitigation activities. MasterControl Risk provides electronic workflows and signatures for managing risk activities and documentation, and enables users to leverage a risk-based approach in supplier-related quality events, supplier qualification activities and other processes.

Features and Benefits

Companies using MasterControl in their supplier risk management efforts have a number of advantages over their peers, including:

Uniformity: MasterControl gives quality and regulatory departments uniform methods to perform consistent risk analyses and enables various personnel (e.g., engineering, manufacturing, procurement, etc.) to easily document and store risk mitigation activities.
Risk Assessment Capabilities: MasterControl enables users to configure multiple risk types for evaluating different categories of operational risk, and lets users launch supplier risk assessments from anywhere within the system to analyze hazards associated with any process or activity.
Reporting Tools: MasterControl's analytics reports enable in-depth analyses of risk files and assessments, and the system's scheduled reporting capability and intelligent threshold rules also helps ensure comprehensive and transparent supervision of risk activities.
Risk File Management: A single repository for all risk-related activities relevant to a supplier (or product or process) consolidates all risk assessments, documentation and other supplier risk management processes. Risk files may be routed and authorized electronically in accordance with 21 CFR Part 11.
Integration Points: Keywords are used to launch risk assessments from any MasterControl Process form. Risk files are associated with vendors stored in MasterControl Supplier to track risk-related activities. Risk assessments launched from an item in any MasterControl solution are automatically linked to related InfoCards in MasterControl.