Why do Companies Take Action at Suppliers
A credible way to capture information at regular intervals
Gathering important data due to the need to comply to certain regulations
Gain primary data, ie first-hand information directly from the source
Work together with suppliers to secure dependable supply chains and improve business relationships
By the end of this presentation you will gain an understanding of how deploying actions at your supplier base can safeguard your supply chain and avoid future risk with Prewave’s Action offering.
Action Platform
In Prewave’s Action Platform, we give companies the toolkit to take action at suppliers where it matters
Once a risk assessment is done, we offer you both Prewave and partner-led action products, allowing you to close the loop from assess to address.
You can take preventive measures at suppliers you have evaluated as potentially risky, or remedial measures at suppliers that already present indicators of risk
We offer ESG Supplier Audits, Interactive Awareness Trainings, Worker Surveys, eLearnings and much more, to bring more primary data into your supply chain management strategy
One of our leading Action products are the Prewave Assessments…
Why to use Prewave Assessments
You have an excel-based or time-consuming internal process that you want to simplify
You are already using Prewave and want to bring your own questionnaire(s) into the platform
You want to establish a new channel of communication with your global suppliers
You want to enrich your supplier profiles with primary data, allowing you to make more informed decisions
Prewave Assessments
Use Prewave's free questionnaires or build your own questionnaire to capture ESG insights at your suppliers
We offer many free questionnaires, from Labor & Human Rights to Conflict Minerals and more. Full list can be seen here
You can customise the content of the request email that your suppliers receive when you build your own custom questionnaire
Enrich your supplier’s 360 scores in Prewave with our Assessment Score logic
Centralise your supplier-facing communications and reporting
When to use Prewave Assessments
You see an alert at a supplier where more information is required
You have run a risk analysis and want to move "red" suppliers into a lower risk category
You are considering your spend at a supplier and want to make that decision based on more data
How is it done
An Action is created at single supplier, or a collection of suppliers
Contact information is added
Prewave provide you with a formal document that you can send to your chosen suppliers, building trust and credibility
The requests are sent in Prewave to your suppliers
Suppliers answer the questionnaire and a new layer of scoring is added to their profiles
Any certificates or policies added in the process are also housed on the supplier profile and scored
Best Practice when sending Assessments
Prewave offers a multilingual, barrier-free interface for suppliers, but building trust is important. This is why we provide you with an “awareness” letter that you send to your chosen suppliers prior to creating the action
Custom emails can be sent to suppliers to remove any language barriers or misunderstandings
In the Prewave interface, you can track the response rates and grading of each assessment and also send reminders where necessary
Our dedicated Supplier Success team are at hand to support and guide your suppliers, regardless of language or timezone, through the process
By sending an Awareness Letter to your suppliers before sending an Assessment Campaign, completion rates increase by 20-50%
Potential Obstacles
Sometimes suppliers only react to a customer's email domain. To overcome this, we "prime" suppliers by having our customers send them a formal document before the assessments are sent
IT departments at companies can be strict, prohibiting employees from clicking on any links. This is a common problem and we overcome this by validating our data-security-first approach
Low response rates. If suppliers are "primed" and aware of what they need to do, they see value in participating and response rates increase drastically
