A Supplier Risk Management Program (SRMP) is an organizational strategy intended to identify, assess, and monitor various types of risks associated with suppliers. This program typically involves a comprehensive risk assessment of the supply chain in order to determine what risks are present, their potential impact on the business, and how to mitigate them. The SRMP should also include a protocol for monitoring and periodically assessing supplier compliance with policies and procedures. By implementing an effective SRMP, organizations can safeguard their operations and ensure they are acquiring quality products and services from reputable suppliers.