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Third Party Risk Management

 

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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:

  • Who am I doing business with?
  • What risks do they impose?
  • How do I successfully manage those risks?

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.