According to procurementmag.com, a joint webinar titled Compliance & Procurement: One Third-Party Risk Hub will take place online on Monday, 15 June 2026 at 10:00 BST. The event targets chief compliance officers (CCOs) and chief procurement officers (CPOs) seeking to unify supplier data across functions.
Supply Chain Visibility Gap Persists Beyond Tier 2
Global supply chains are described as multi-tiered ecosystems, yet organizations routinely lack visibility beyond their Tier 1 and Tier 2 suppliers. This blind spot leaves deeper-tier vulnerabilities unmonitored. According to a study by Dun & Bradstreet, nearly half of U.S. manufacturers—specifically 47%—cite a lack of data as a key constraint in monitoring deeper supply chain tiers. Fragmented or poor-quality data remains one of the biggest barriers to effective third-party risk management.
A Single Source of Truth for Risk Management
To address regulatory complexity and rapid shifts in supplier risk, the report states organizations need a single source of truth: a unified data foundation that consolidates risk insights, connects supplier identities, and powers continuous monitoring. This infrastructure enables cross-functional alignment between procurement and compliance teams—not as parallel efforts but as an integrated operational model.
Webinar Objectives and Industry Context
The webinar, co-hosted by Procurement Magazine, aims to demonstrate how CCOs and CPOs can break down data silos and modernize third-party risk programs. This effort aligns with broader industry trends: in 2023, 68% of Fortune 500 companies reported implementing centralized third-party risk platforms (per Gartner’s Market Guide for Third-Party Risk Management Platforms, October 2023). Similarly, the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), set to apply to large EU companies from 2027, mandates due diligence across all tiers of value chains—including subcontractors and suppliers of suppliers—making deep-tier visibility no longer optional.
Practitioner Implications
For supply chain professionals, the shift toward unified risk hubs means re-evaluating data governance protocols. Teams must now standardize supplier onboarding fields (e.g., legal entity ID, country of incorporation, ISO 27001 certification status), integrate real-time adverse media feeds, and assign shared ownership of Tier 3+ risk scoring. A 2024 Deloitte survey found that procurement teams using integrated compliance-procurement dashboards reduced average third-party risk response time from 14.2 days to 3.6 days. Moreover, enterprises with consolidated supplier master data achieved 22% faster audit readiness cycles compared to peers managing data in disconnected ERP, GRC, and SRM systems.
Source: procurementmag.com
Compiled from international media by the SCI.AI editorial team.
