U.S., Dec. 14 -- Guy Harrison, General Manager, Dow Jones Risk & Compliance, discusses the company's recent research into third-party risk management.

Third-party risk management systems and processes are in need of significant upgrades as supply chains become more global

Dow Jones Risk & Compliance, recently examined the third-party risk management practices of U.K. companies with a particular focus on the vetting of suppliers in lengthening supply chains.

In August, its team surveyed 250 U.K.-based procurement professionals across five sectors: engineering and construction, oil and gas, IT and technology, media and telecoms and manufacturing.

The survey uncovered that the policies designed to vet suppliers and vendors against indica...