How does the concept of 'Fourth-Party Risk' relate to vendor risk management?
- It deals with risks arising from the organization's customers
- It focuses on risks within the organization itself
- It involves assessing risks associated with suppliers' suppliers
- It pertains to risks introduced by the organization to its clients
Fourth-Party Risk in vendor management refers to assessing risks associated with suppliers' suppliers. Understanding this concept is crucial for organizations to comprehensively manage their supply chain risks, ensuring a thorough evaluation of potential vulnerabilities that may indirectly impact their operations.__________________________________________________
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