Altius VA have worked with RSSB to deliver a newly improved and modernised Railway Industry Supplier Qualification Scheme (RISQS) platform, which launched on May 1st.
The new RISQS portal will act as the single entry point for suppliers to the rail industry, giving suppliers the platform to demonstrate their capabilities as providers of rail industry products and services.
With the ongoing support of key players Network Rail and Transport for London, Altius VA Ltd will operate the front end of the RISQS IT platform and verification services.
The early, and expected, impact
The new RISQS platform has made an instant impact by offering scheme members a quicker, smarter, easier interface to the only recognised scheme run by and working for the rail industry.
The scheme supports rail giants Network Rail and Transport for London, as well as passenger and freight operating companies, main infrastructure contractors and various buying organisations to manage their supply chain risk.
RISQS is crucial to the safe and cost-effective procurement of railway products and services, assuring that 110-plus buyers can confidently do business with over 4,300 suppliers.
How it works
Although RISQS remains the single-entry point for suppliers and buyers, the new platform addresses many issues with its predecessor, such as an inflexible IT system and the inability to access data to use for learning and improvement.
The new RISQS software platform has the potential to more easily integrate with buyer systems, and includes time-saving features such as pre-population of templates, and free value-adding tools like notice of EU tenders for suppliers.
The power of advanced software on the rail industry
As a cutting-edge IT and compliance service provider, we are delighted to have been part of a project to modernise and digitise the rail industry, saving on costs and significantly benefiting both suppliers and buyers through software.
Our experience working with supply chains to reduce cost and risk means RISQS is now smarter, more accessible and quicker than ever before.
Graeme Cox, RSSB Head of Supplier Assurance, said: “We strongly believe that the improvements meet the long-standing demands of our industry for a modern, effective and efficient supplier assurance system, and crucially one that can – and will – keep changing to meet industry demands.
“RISQS ‘oils the wheels’ of the GB rail market, saving the 110-plus buyers from auditing individually each of the 4,300-plus suppliers, creating substantial economies of scale and ensuring consistency. Today we have enhanced it significantly for both buyers and suppliers.”
Assess your own supply chain performance
The rail industry is now reaping the benefits of modern software, which will enhance supply chain transparency and make processes safer and more efficient for years to come.
Not sure if your own supply chain is up to scratch? Take our 12 question self-assessment quiz and learn:
- Your supply chain performance score
- Areas for improvement
- Recommendations to improve supply chain performance