Canopy is a dynamic database that adapts to the requirements of the customer and supplier. No two supplier profiles will look the same.
Standards and Risk Rules will both allow the Supplier Profile to adapt to the supplier's conditions. So when should you use them?
In this article you will learn:
What is a Risk Rule
When should you use Standards vs Risk Rules
When should you use Standards vs Risk Rules
In summary:
- Standards will segment suppliers into different buckets of due diligence.
- Risk Rules allow for variation within each due diligence bucket.
A Standard represents a holistic measure of due diligence. Suppliers who are assessed to a particular Standard are clearly labelled so you can tell which Standard they confirm to. The 'Standard' label is visible on the Supplier Profile, the Supplier List, and in Reporting.
Risk Rules allow suppliers to take different pathways through the Standard. For example, the Compliance Standard requires that suppliers are risk assessed, and then evidence mitigation of those identified risks. Risk Rules determine what mitigation each supplier is required to provide, as this will vary from supplier to supplier. This means that any two suppliers assessed to the same Standard may not see the same questions, as those questions are governed by their risk.