DRI Supply Chain & Third-Party Risk Management Flashcards
6 cards from real DRI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 DRI Supply Chain & Third-Party Risk Management flashcards as text
What is the purpose of a 'vendor continuity questionnaire' in third-party risk management?
Answer: To assess a vendor's preparedness and BC/DR capabilities before or during a contract
A vendor continuity questionnaire helps organizations assess how well a potential or existing vendor is prepared to maintain services during disruptions before relying on them for critical functions.
Which strategy BEST mitigates supply chain single points of failure?
Answer: Dual-sourcing or multi-sourcing critical components from different vendors
Dual-sourcing or multi-sourcing ensures that if one supplier fails, alternative suppliers can fulfill the need, eliminating single points of failure in the supply chain.
In DRI's Professional Practices, which element is critical when onboarding a new critical vendor?
Answer: Validating that the vendor has a tested and documented BC plan
DRI's Professional Practices require validating that critical vendors have documented, tested BC plans to ensure they can maintain service delivery under adverse conditions.
What does 'right to audit' in a vendor contract typically allow an organization to do?
Answer: Review and verify the vendor's BC/DR plans and testing results
A 'right to audit' clause contractually permits an organization to review a vendor's business continuity plans, test results, and controls to verify compliance with agreed standards.
Which metric is MOST relevant when evaluating a vendor's ability to meet your RTO requirements?
Answer: The vendor's own documented RTO for services your organization depends on
The vendor's own documented RTO for the services you depend on directly determines whether they can recover and restore your services within your required timeframe.
When a critical supplier experiences a disruption, which communication approach aligns with DRI best practices?
Answer: Immediately activate your pre-established vendor notification and escalation protocol
DRI best practices call for immediate activation of pre-established vendor notification and escalation protocols to quickly assess impact and trigger appropriate continuity responses.