Supply chain management today is a complex endeavour. Regardless of how many Enterprise Resource Planning (ERP) solutions, workflow tools, digital shipment tracking devices or other integrated monitoring solutions are deployed, complexities, product losses and inaccurate data management abound.
No longer the responsibility of one or maybe two players, today’s supply chain is riddled with multiple parties, multiple checkpoints and – across them all – a tangled web of processes and systems that need to properly integrate to function cohesively.
The challenges of governance remain a pressing concern for organisations looking to retain a competitive edge and a sustainable future.
When it comes to governance, risk and compliance (GRC), it seems the world is constantly playing catch-up.
According to Forrester’s report, ‘GRC Vision 2017-2011: Customer Demands Escalate as Regulators Falter’, regulators are unable to catch up with the speed of technology and adoption, while the hyper adoption of new technologies and business models is putting customers at risk.
Although many organisations have been paying attention to the GRC requirements and vendors have been touting their GRC focused wares, the reality is that it is nowhere near ready.