In the world of quality management systems (QMS), the nature of the relationship between risk management and preventive actions is often confused and misunderstood. Indeed, some believe that a thorough risk assessment process replaces the need for preventive action.

Regulations such as the Foreign Corrupt Practices Act (FCPA), the UK Bribery Act, and the Dodd Frank Wall Street Reform and Consumer Protection Act (specifically Section 1502 on conflict minerals) have compelled companies to extend their compliance and monitoring efforts beyond the four walls of the enterprise and into the far reaches of their vast and global supply chains.

The global supply chain is growing quickly for many companies across the globe at the same time that the regulatory environment is requiring those organizations to have ever-better visibility into the behaviors and practices of their suppliers everywhere and at all times.

Whether its “sustainable purchasing”, “responsible purchasing” or “sustainable procurement”, who does not want their purchasing practices to be sustainable anyway?