Supplier Risk Score
Take a calculated approach to assessing the risk associated with your suppliers
When vetting or monitoring a supplier, companies want to understand the risk associated with continuing or starting a partnership. Z2Data provides you with an overall risk score on all of your suppliers and more. The overall score is based on a number of scales that Z2Data provides to measure how strong a company's fundamentals and performance are. The overall score is made up of a number of sub-scores such as financials, growth, transparency, product data availability, etc.
Z2Data classifies companies based on their business type and calculates their scores based on the nature of each company's business. The criterium that are measured based on company type are the following:
- Companies that build tangible products: Financial/Growth - Supply Chain - Transparency - Product Data
- Non-Part Manufacturers & Distributors: Financial/Growth - Environment - Governance - Social Responsibility
- Software & IT companies: Financial/Growth - Cybersecurity - Governance - Social Responsibility
The score is measured from 0-100. Companies with scores of 71-100 are considered stable, 41-70 is medium risk, below 41 is considered high risk. By taking these scores into account you can easily divide your suppliers into groups and vet those that are stable from those that you may need to investigate further. You can have access to all aspects of your supplier's risk on one platform as opposed to searching for financials, product data, and their supply chain on multiple sources.
To understand the holistic risk associated with your suppliers, sign up for a free trial with Z2Data's Supplier Insights.