Home News BSI presents next generation of supply chain risk and compliance management solutions

BSI presents next generation of supply chain risk and compliance management solutions

by Brian Sims
BSI has launched its enhanced Supplier Compliance Manager and Supply Chain Risk Exposure Evaluation Network solutions

BSI has launched its enhanced Supplier Compliance Manager and Supply Chain Risk Exposure Evaluation Network solutions

BSI, the business standards company, has announced the launch of its enhanced Supplier Compliance Manager (SCM) and Supply Chain Risk Exposure Evaluation Network (SCREEN) solutions. These online risk assessment tools enable end user organisations to visualise and analyse global supply chain risk and then effectively manage their compliance programs with “unequalled precision”.

SCREEN’s unique supply chain intelligence affords businesses actionable, risk-based data to underpin the management of their global supply chain. With SCREEN’s expansion into the spheres of social responsibility and business continuity, companies are now able to proactively analyse risk by dint of using over 20 risk indicators in more than 200 countries.

BSI’s “unparalleled supply chain intelligence service” hands firms the ability to identify, manage and mitigate global threats that could affect the supply chain in a number of areas ranging from Human Rights through to working conditions and man-made/natural disasters.

SCM’s newly-enhanced automated features allow companies to streamline their supply chain self-assessment, third party or internal audit management efforts through a single and comprehensive solution. Combined with BSI’s SCREEN intelligence, SCM offers end users a “deeper and more predictive understanding” of both geographical and individual supplier risk.

In addition, SCM’s assessment builder and Corrective and Preventative Action (CAPA) features realise the capability to customise assessments, identify potential threats and implement corrective actions designed to ensure that specific corporate objectives are met.

To further visualise risk, BSI has also developed a customised risk builder allowing an end user company to select and weight risk variables and ‘risk-index’ suppliers, transportation providers and corporation locations. This allows an organisation to identify and quantify risk as it deems fit.

SCM is a best-known practice among multiple Fortune 500 companies and Trade Compliance Programs.

“In order to remain competitive in today’s global economy, corporations’ dependency on, and their use of international suppliers and factories continues to grow,” commented Mike Bailey, EMEA director at BSI Professional Services. “Protecting the brand while at the same time balancing social, security and business continuity risks with these outsourced companies is imperative.”

Bailey concluded: “BSI’s SCREEN and SCM solutions allow firms to map, quantify and predict the hidden exposures within both their global supply chain operations and trade compliance programs. The expansion into risk-based social responsibility and business continuity compliance means that companies can now successfully manage all of their trade compliance programs in a single solution.”

Legal admissibility British Standard for electronic information revised

BSI has recently revised the standard which helps organisations manage the implementation and operation of electronic information management systems.

BS 10008:2014 ‘Evidential Weight and Legal Admissibility of Electronic Information – Specification also offers guidance on the storage and transfer of information.

Information is an organisational asset that needs to be carefully managed throughout its life-cycle. It’s frequently required to be used both in and outside of the organisation for demonstrating compliance and/or dispute resolution.

If the authenticity or integrity of information cannot be trusted then conclusions based upon it could be discredited. Therefore, BS 10008 has been developed to help users verify and authenticate their information in order to avoid the legal pitfalls of poor information storage.

The British Standard addresses how data needs to be managed within an information management system to enable it to have strong evidential weight and be demonstrably trustworthy with regard to its authenticity and integrity whenever it needs to be used during its life-cycle.

BS 10008 outlines the best ways in which to transfer electronic information between systems and in migrating paper records to digital files. It also offers guidelines for managing the availability and accessibility of any records that could be required as legal evidence.

Anne Hayes, head of market for governance and risk at BSI, explained: “By conforming to BS 10008, the evidential weight of electronic information managed by an organisation can be maximised by ensuring its trustworthiness and reliability. Additionally, since the British Standard follows the structure of ISO Management System Standards, it can be aligned to an organisation’s existing management system standards such as ISO 9001 (Quality Management), ISO 27001 (Information Security) or ISO 14001 (Environmental Management).”

BS 10008 was revised using the collaborative skills of information records management experts from a wide range of business sectors working for large corporations through to companies offering scanning, certification and training services in addition to NHS Trusts.

Main benefits of BS 10008:2014

*Maximises the evidential weight which a court or other body may assign to presented information

*Allows better processes to be put in place for dealing with copyright, tracking and verification issues

*Covers how to migrate paper records to microform or digital format without compromising on quality

*Saves on the cost of paper storage and helps to improve an organisation’s environmental credentials

*Outlines ways in which to authenticate encrypted information and electronic signatures, in turn helping alignment with existing information security policies

*Enables the management of information over longer periods of time to be more straightforward, including migration during technology upgrades

*Allows organisations to reduce the risk of losing records: electronic information can be backed-up and protected more effectively than paper records at risk of physical damage

*Provides confidence to external inspectors (for example regulators or auditors) that the organisation’s information and business practices are robust and reliable

*BS 10008 is applicable to organisations in all business sectors and specifically relevant to information risk and governance officers, records managers, information managers, IT managers, Chief Information Security Officers, consultancies, service providers and the vendors of document/records management solutions in addition to designated legal entities

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