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Showing posts from April, 2017

Hustle and Tussle of Vendor Risk Management

There is no doubt that we humans would have never reached this world of connected Cars, 3d printing and Space travel without trading on each other's resources . We traded what we had for the things we didn't! The world has never been as interdependent as it is right now. This is true for us as an individual and certainly for organizations across geographies. The word "outsourcing" started getting traction in around 90s, but even before that organizations were heavily using it to reduce cost and allow themselves to focus of their core business area. Family owned businesses initially outsourced a small part of their work within their circle of friend and family considering the trust factor, but as the corporation grew and the economy went global , organizations started delegating part of their work to people living on the other side of the globe. Slowly and steadily organizations have reached to a state where they don't even know who their supplier is! The trus...