London, UK: Pure Research’s Business-Finance-Sustainability (BFS) Framework will help eradicate any risk that might cause disruption in the supply chain management of any organisation.
Pure Research, a pioneer in Procurement Research and Risk Management Solutions, has launched a solution which will simplify the process of supplier risk assessment. Their BFS Framework will evaluate supplier related risks so that clients can choose a right stakeholder for profitable success and growth of their business.
The present hyper active business environment has placed suppliers in a position where they play important and significant role in the growth of a business. With the opening of business sectors worldwide and reduced obstacles to the flow of resources, the creation of value has become a challenging process for the organisations. While, the organisations are embracing various risk assessment strategies, they are still vulnerable to systemic risks, causing major disruptions. Due to which supply chains are increasingly getting impacted due to changing market, economic and geopolitical situations.
The financial appraisal of the suppliers cannot be disregarded. Simultaneously, the effect of non-financial factors like globalisation, socio-cultural trends, macroeconomic trends, environmental and, legal considerations are progressively exercising a strong impact on supply chains today. Ignoring these can considerably hamper an organization’s repute, goodwill and consumer faith.
To address these shortcomings, Pure Research has developed a proprietary supplier risk assessment framework – the BFS – which will assess the performance of suppliers on more than 250 risk indicators. The BFS Framework has been designed to analyse supplier’s financial health, business ecosystem, and sustainability performance to uncover any and every potential risk.
According to Ankit Kohli, the co-founder of Pure Research, there is an urgent need to make the risk assessment process more comprehensive. The supply chains are vulnerable to multiple influences both internal and external. In this case, organisations must accompany financial evaluations with business performance and sustainability checks. Owing to the fact that financial performance is a combined consequence of business operations and sustainability functions, disregarding the latter can result in severe supply chain disturbances.
Underlining this idea, Pure Research has developed the BFS framework for risk assessment, which involves reviewing the suppliers on more than 250 risk indicators. Our team of Supply chain experts and analysts conducts a robust examination through the BFS framework (Business, Finance & Sustainability) and provide buying organisations with an inclusive and easy to follow reports, for taking informed and effectual supplier related decisions.
Today, when supply chains are completely consumer-driven, the overall performance of an organisation critically depends on the performance of their suppliers. The BFS framework offers not only a chance to avoid disruptions but, at the same time enables the procurement department to adopt a proactive approach for future risks and uncertainties connected with suppliers.
About the Company:
Pure Research provides customised research and business intelligence to leading corporates, public sector organisations, financial services firms, and professional services firms. The company specialises in providing high quality procurement and supply chain intelligence to CPOs and procurement professionals worldwide. Analysts from Pure Research work as an extension of its client’s procurement teams to deliver high quality insights on suppliers and supply markets. The company has offices in London, U.K. and New Delhi, India.