Takeda’s risk management process requires that we conduct reasonable due diligence in engaging, selecting, and assessing Third Parties throughout their Takeda lifecycle.
Global Third Party Risk Management (TPRM) helps organizations answer a few seemingly simple yet critical questions:
It’s an essential process because third parties inherently introduce significant risk to an organization, including information security risks, like a data breach; lack of financial stability; supply chain disruption; environmental or social accountability issues; regulatory compliance concerns; bribery, fraud and corruption risk, to name a few.
In some cases, Takeda may retain an independent third party to help conduct risk assessment. Suppliers to Takeda are asked to cooperate with these requests on behalf of Takeda.