A growing number of organizations are developing enterprise risk-management (ERM) frameworks and other holistic risk-management approaches in response to an increasingly unpredictable global business environment. Doing so facilitates a focus on root causes rather than on the symptoms of shocks to their businesses. It also allows companies to take corporate risk management to a new level as they actively seek to anticipate, track and manage customer and supplier risks. Given the complexity of managing third-party risks across different corporate departments, many companies are turning to predictive analytics to gain a better and more complete view of long, complex supply chain and distribution networks.
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