The implementation of Enterprise Risk Management (ERM) in the supply chain enables companies to evaluate risk criteria, map products and processes, and set appropriate action priorities. Innovaces iSupplyX, a cloud-based tool for risk professionals, can aid companies in proactively managing risk and complying with regulations.

The benefits of using iSupplyX include automation of risk management processes, which allows professionals to make better decisions quickly and focus on important tasks. iSupplyX provides actionable data that aids risk professionals in identifying and prioritizing risks and taking necessary actions to manage them. iSupplyX also allows businesses to prioritize risks based on their specific strategy, resulting in more effective resource utilization. Moreover, by simplifying risk management processes, iSupplyX can save time and money, resulting in increased productivity. Finally, ERM can help businesses become more resilient, reduce disruptions, and improve overall performance.