What are Concentration Risks?
Tracking and monitoring Concentration Risks gives you visibility into risk posed to your organisation by your wider supply chain, not just by your direct suppliers. An example of a concentration risk could be where you see a 4th party is connected to two of your 3rd party suppliers, therefore there are multiple avenues that the 4th can impact your organisation.
Opening and managing a Concentration Risk
A Concentration Risk can be associated with any organisation within your supply chain network on Risk Ledger not just your direct suppliers - Concentration Risks can be opened about a 4th, 5th or 6th party supplier. These types of Risks can be found within your Risks dashboard and managed in the same way as a supplier and control level Risk. When viewing a Concentration Risk you will see the organisation name, logo and the degree of connectivity to your organisation in addition to the risk detail you enter.
To open a Concentration Risk:
Click Network from your navigation menu
Click Your Supply Chain
Click on any node within your Network Visualisation graph
Click Open Risk from the Visualisation left hand side menu
To view and manage Risks:
Click Risks Dashboard from your navigation menu
Click on the Concentration Risk to view the data
View: Managing Risks - Viewing, Editing & Closing for further information
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