For those who believe supplier relationship programs are unnecessary,
now is a better time than ever to reevaluate. Considering the demands of
tackling OCC guidelines and ensuring compliance, banks should prioritize managing
supplier risk at the top of their list. Even if banks have all their ducks in a
row, they must also be compliant through their third party associations—this is
where supplier relationship management comes in. In addition to the likelihood
of cost savings from reduction of quality issues, a solid SRM program will
provide a plan for formal risk and control processes within supplier
relationships. Learn more about the potential to manage complexities and keep
your ducks in a row with the help of SRM in this infographic.
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