The need to evaluate suppliers from the perspective of risk analysis by purchasing companies is increasing. Such evaluation of suppliers is conducted primarily by production companies with implemented quality (QMS), environmental (EMS), health and safety management systems (H&SMS), as well as Toyota Production System (TPS). This article aims to examine latent factors for suppliers' evaluation and to describe the intensity of these factors by the implemented management system. The article provides the results of empirical research conducted with the computer-assisted telephone interviewing (CATI) technique in 151 medium and large manufacturing companies operating in Poland. The risk was classified into three main groups to deepen the research process: management system risks, environment risks, and process risks. This allowed for the formulation of some original conclusions. The results showed that companies implementing standardized management systems take the issue of risk analysis and management more seriously than organizations that do not implement such systems. The research also highlighted the differences in the perception of risk caused by implementing various management systems. The study also found that the industry and business profile specificity also affect the risk assessment in cooperation with suppliers.