Find out how the Supplier On-boarding Questionnaire may help you protect your business
Supplier Onboarding Checklist for Supplier Evaluation
Supplier onboarding is a key assurance stage for businesses to map the core information of their supply chain. The aim is to gather general information on a supplier, such as their relationship to your company, company status, basic accreditations held for their industry, insurance information. This creates the foundation of the information required to begin to understand supply chain risk, and conduct further, more specific, investigation. Organisations that wish to understand risk and compliance within their supply chain can use this standard questionnaire is available within Rizikon Assurance. As supplier onboarding is typically carried out across the whole supply chain, Rizikon is an ideal platform for managing the large volumes of questionnaires such as this.
How this Supplier Onboarding Questionnaire was developed
While many organisations have their own version of an onboarding questionnaire, they all typically share much of the same content. Areas that differ tend to be topics of particular concern, such as Health and Safety for a company in the construction industry. This onboarding questionnaire has been created by working with many organisations across a broad selection of industry sectors to find the common questions asked and the key information required at the initial onboarding stage, while still maintaining a minimum level of depth in particular assurance areas of concern.
Supplier Onboarding Checklist Questions, sections and scoring
The structure of the Onboarding questionnaire is based industry standard questions. There are 12 main sections: Company Information, Your Business Information, Insurance & Liabilities, Finance, Legal, Business Continuity, Governance & Risk Management, Equality, Diversity & CSR, Health & Safety, Environment, Quality, GDPR & IT security. Questions in each of the above are largely conditional, meaning that only around 60 questions need be answered, depending on previous answers, which makes the questionnaire relatively quick to complete. The questions are scored on a tiered basis - answers can be provided that are either scored: Okay, Low-, Medium- or High-risk throughout parts of the questionnaire. The overall questionnaire score is initially based on the highest individual question score given, which helps to highlight the most important issues within an unassessed or unfamiliar third party. Scores can then be manually adjusted by an assessor to take into account context and further information which can be provided. A report view will also indicate the necessary remediation actions needed to reduce their overall risk score.