The process of sourcing starts with the investigation of the company and the determination of the risk context. Once this is known, their quality procedures and records also need to be assessed. Due Diligence typically starts with the identification of risk, an analysis of it, and its evaluation. The last step in the chain is the treatment of risk.
We carry out communication and consultation, as well as monitoring and review.
The risk is omnipresent; it is inherent in every process of the business chain. The risk is unavoidable, and that is why it is important to manage it.
The risk is managed according to the perception of risk. This perception is based on overt or covert knowledge. We know about something, or we suspect something. We then react to these stimuli. Risk acceptance (known as risk appetite) varies from individual to individual and enterprise to enterprise. It is difficult to say this amount of risk is wrong or not as it depends on how people view risk.
The assessment of country regulations and customer risk needs to be done with a scientific approach. We gather data about the factory and its customers in order to make an informed assessment to achieve the best outcome for the product.