The German Federal Office for Economic Affairs and Export Control (BAFA) has already contacted many companies for a preliminary review of their implementation of the German Supply Chain Act (LkSG). Conducting the risk analysis for a company's own business area manually requires substantial resources and can lead to a significant lack of transparency when meeting the requirements of the preliminary review.

In our exclusive live webinar "Successful Risk Management with FRoSTA: Conducting Risk Analysis for Your Own Business Area" with Sabine Lemke, Compliance Manager and Human Rights Officer at FRoSTA, and Karoline Rückerl, Product Expert at Tacto, we explain how FRoSTA used a digital tool not only to successfully handle the BAFA review but also to significantly reduce the effort involved in conducting the risk analysis.

In an increasingly globalized and regulated economy, effective risk management is critical to a company's success. FRoSTA, a leading manufacturer of frozen foods and ready meals, faced the challenge of conducting a detailed risk analysis for its business areas. Given growing regulatory requirements, particularly under the German Supply Chain Act (LkSG), it became clear that traditional, manual methods no longer met the requirements.

‍

The Challenge

‍

FRoSTA had to ensure that all information needed for the risk analysis could be collected and presented correctly. Without a specialized tool, this proved very time-consuming and difficult to keep track of. Much of the information was stored in different places and came from different owners, which made the process highly error-prone. In addition, there was a lack of specific training and clear responsibilities, which made conducting the risk analysis more difficult.

‍

The Solution

‍

By working with Tacto, FRoSTA was able to conduct a structured and efficient risk analysis and is now well prepared for the upcoming BAFA review.

‍
‍

Steps to a successful risk analysis:

‍

1. Preparation: Defining and delineating the individual business areas.
   ‍
2. Training: Access to information material for all owners and employees, which increases transparency and removes the need to prepare materials in-house. This ensures that all employees receive the information they need and share a consistent basis for the risk analysis.
   ‍
3. Risk analysis: Sending questionnaires to the owners of the individual business areas and evaluating the responses to identify risks. The templates can be customized and edited intuitively, which makes collaboration much easier, especially in an international context.
   ‍
4. Measures: Identifying and initiating suitable preventive and, where necessary, remedial measures based on the results of the risk analysis.
   ‍
5. Documentation: Minimal effort for internal and external reporting, such as the BAFA report or the BAFA letter. Since the data can be read directly from the system, it is immediately available for further documentation and communication and accessible to everyone.

‍
‍

Results

‍

With the structured risk analysis in Tacto, FRoSTA significantly reduced the effort required for the risk analysis of its own business areas. The central presentation of all information and the intuitive handling led to high response rates and improved transparency, enabling FRoSTA to successfully complete the BAFA preliminary review.

‍
‍

Outlook

‍

Tacto takes a comprehensive approach to regulatory compliance and to building future-proof supply chains. Meeting regulatory requirements becomes simpler, so companies can focus on their core tasks. If you want to optimize your risk analysis and compliance processes, Tacto offers tailored solutions for the industrial mid-market.

In our exclusive live webinar "Successful Risk Management with FRoSTA: Conducting Risk Analysis for Your Own Business Area" with Sabine Lemke, Compliance Manager and Human Rights Officer at FRoSTA, and Karoline Rückerl, Product Expert at Tacto, we explain how FRoSTA used a digital tool not only to successfully handle the BAFA review but also to significantly reduce the effort involved in conducting the risk analysis.