Third-Party Risk Management in Consumer-Packaged Goods



An Integrated Approach to CPG Third-Party Risk

The consumer packaged goods (CPG) industry is navigating a rapidly evolving landscape of changing consumer behaviors, technological advancements, complex global supply chains, and stringent regulatory and ethical/ESG demands. To thrive in this dynamic environment, CPG companies must adopt an integrated approach to third-party risk management. This approach should transcend traditional departmental boundaries, fostering collaboration across various roles and functions. From onboarding to offboarding, there needs to be a unified process in place for managing third-party risks. Implementing a robust third-party risk management technology platform is crucial. Such a platform should streamline and integrate third-party risk management processes and provide critical risk intelligence, enabling companies to make informed decisions and respond proactively to emerging risks in the extended enterprise. This empowers CPG companies to manage their third-party relationships better, safeguard their operations, and maintain their competitive edge in a challenging and ever-changing market.

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Table of Contents

  • The Extended Enterprise in CPG Demands Attention

    • The CPG Organization: an Interconnected Web of Risks & Relationships

  • Developing a Third-Party Risk Strategy in the CPG Organization

    • Understanding the Context and Drivers of Third-Party Risk Management

    • Foundational Components of Effective Third-Party Risk Management

    • Critical Capabilities of Mature Third-Party Risk Management

  • The Role of a Third-Party Risk Management Platform in CPG

  • Business Case for Third-Party Risk Management Platforms in CPG

  • GRC 20/20’s Final Perspective

  • About GRC 20/20 Research, LLC

  • Research Methodology

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