Achilles, a global leader in supply chain risk and performance management, has announced the launch of Achilles Action Plans, a new module designed to help procurement and supply chain teams turn verified supplier findings into targeted, trackable improvement, according to a press statement.
Once a weakness or a potential risk has been identified, buying organisations need a clear way to decide what should change, communicate the requirement to the supplier and maintain visibility of the response through to completion.
Achilles Action Plans provides a structured way to manage that process. Buyers can create targeted improvement plans in response to risks, weaknesses or performance issues identified through their supplier assurance activities—from health and safety, sustainability and compliance to financial, cyber, insurance and other areas of supplier risk.
Risk appetite
Each plan can be tailored to the supplier, the nature and severity of the issue and the buying organisation’s own risk appetite, policies and industry requirements. Buyers can define the improvements required, set actions and timescales, monitor progress and review evidence provided by the supplier, creating a clear record from the initial finding through to remediation.
“Action Plans helps organisations close the gap between identifying an issue and addressing it. Buyers can set clear expectations, suppliers can demonstrate the action they have taken, and both have visibility of progress. It turns supplier assurance from a point-in-time assessment into a practical process for reducing risk and improving performance,” explained Mark Chamberlain, Chief Product Officer, Achilles.
