Risk Management

029: Friday Show: The 8 Supplier Risk Factors You Should Be Protecting Your Company From

In today’s Friday Episode of The Art of Procurement, I want to talk about procurement and risk management.

Back in episode three with Geoff Talbot of SIG, Jeff talked about risk and risk management, and it being a way that procurement can provide real value over and above just a particular measurement of cost savings.

It’s a topic that I want to cover in some considerable depth on the Art of Procurement over the course of 2016 but today I am going to keep things relatively high level and cover eight different risk factors that we could be protecting our companies against.

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“The identification, mitigation and management of supplier risks will become a key way that Procurement adds value going forward.”

8 Supplier Risk Factors

The 8 Supplier Risk Factors that I discuss in this episode are:

  1. Geopolitical risk
  2. Concentration risk
  3. Strategic risk
  4. Reputational risk
  5. Compliance risk
  6. Operational risk
  7. Financial risk
  8. Contractual risk

Episode Transcript (PDF):

  • Click here to download a copy of today’s episode transcript (PDF).

Links and Resources:

Thanks for Listening!

 

 

About the author

Philip Ideson

Philip Ideson is passionate about the role that procurement professionals and leaders can plan in creating competitive advantage for their organizations in ways that go beyond the traditional value proposition.

Philip founded Art of Procurement as a way for the procurement community to learn from each other, increasing the impact they have on their organizations. In 2017, he co-founded Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Prior to Art of Procurement and Palambridge, Philip enjoyed a career that spanned the procurement value chain, working across three continents for organizations such as Accenture, Procurian, Ally Financial, Pfizer and Ford Motor Company.

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