Successful global business leaders recognize the importance of third party oversight and make it a priority to understand the many risks associated with global sourcing. They are proactive in designing and implementing effective, reliable means of monitoring and managing global sourcing risks in order to ensure the continued success of their global operations.

This article explores the three primary components to establishing an effective third party oversight practice within your own organization:
1) Defining the risks,
2) Monitoring those risks, and
3) Developing an action plan.