Learn more about how to strengthen your supply chain in free whitepaper
This article was sponsored by Avetta.
Since the start of the pandemic, supply chain integrity has been top of mind for businesses and organizations around Canada. According to a recent study, 94 per cent of the Fortune 1000 companies are seeing supply chain disruptions rising from the COVID-19 pandemic.
“Most businesses are aware of the growing supply chain risk factors and have taken adequate measures to insure themselves against any rude shocks. However, a majority of these organizations do not have visibility into their suppliers’ insurance framework,” says supply chain expert Avetta in its new whitepaper.
Looking at the negative impacts of supply chain frailty on a company’s growth and sustenance, the importance of supply chain integrity is essential to every aspect of a business – from worker safety to the bottom line.
However, despite this need, many organizations still struggle to justify the return on investment (ROI) in such an uncertain economic environment.
“The growing complexity of supply chains makes it difficult, if not impossible to keep track of supplier insurance coverage and compliance,” says Avetta. “What makes managing and tracking supplier insurance a tedious process is the time and effort involved. For instance, a simple task like managing email communication with suppliers can make the overall process of managing certificates of insurance (COI) highly time-intensive.”
The supply chain expert explains that the best interest of any organization looking to streamline compliance is to ensure that the common insurance requirements are in place.
To find out more about the steps that you can take to maintain supplier insurance visibility, download this free whitepaper from Avetta.
In this whitepaper, you will gain insight into
- Growing challenges for supply chains
- Tips for understanding insurance requirements
- Best practices for monitoring supplier insurance requirements
- How to use tech to monitor supplier insurance.
Download this free whitepaper now to discover how to build more resilient supply chains.
About Avetta
Avetta ensures that every workplace is safe and sustainable by building stronger relationships with clients and suppliers. Avetta fundamentally changes the dynamics of the supply chain. The company enables and verifies ongoing environmental, social, and financial performance, helping companies build a strong and diverse supplier base – all on a global scale.
