The risk assessment services provided by Modulus Metal are methodical, proactive, all-inclusive, and cost-effective in identifying and evaluating the possibility and seriousness of potential threats and risk factors that could affect compliance, quality, and delivery performance.
Modulus Metal’s qualified risk assessment specialists design, measure, and report depending on customer needs or the use of best practices for everything from single evaluations to completely managed projects. The analyses that follow serve as the foundation for risk reduction, mitigation, acceptance, management, and control.
Supplier Risk Assessments
Our system & process audit services rely on the following fundamental competencies based on customer requirements:
AUDITORS
Competent to plan, implement, monitor, and follow up on all audit tasks are proven project leaders and field resources.
AUDIT PROCESS
Standard work packages that have been validated in the industry, comprising forms, checklists, and best practice procedures.
REPORTING
Real status and performance analytics of suppliers are provided by detailed supplier reporting formats.
Supplier Risk Maturity Models
1. Immature
Organization’s awareness and knowledge of risk management are very low or nonexistent. No established procedure.
2. Basic
Methods of risk management with little standardization are rarely used. A few formalized procedural rules.
3. Emanating
There is a framework for risk management with outlined and recorded principles. Not every process has been fully implemented.
4. Mature
The company takes an active approach to risk management. The full implementation of processes is monitored for ongoing improvement. Using key risk indicators
5. Advanced
Risk management is used proactively for daily decision making and is regarded as a value generator. To proactively detect and monitor risk, predictive risk analytics are employed.
MODULUS METAL PROVIDES
*Based on particular customer needs, leading practice risk assessment services
*Qualified auditors. Risk assessors are qualified based on their history of accomplishments and track record.
*Detailed Reporting with key indicators to the customers
BENEFITS OF CUSTOMERS
*Help customer in supplier selection and qualification
*Identifying potential risks that could affect the supplier’s capacity
*Identifying potential risks that could affect the supplier’s business continuity
*Analyze the supplier’s readiness for changes in production demand
*Determine the supplier maturity rating and monitor development
