This Week in Procurement

This Week in Procurement: Risk Is Inevitable. Resilience Is Everything

Written by Philip Ideson

Regular readers will have noticed that we skipped This Week in Procurement last week – an unfortunate consequence of a lot of travel! However, I am now recovering from the jet lag and so have had a chance to catch up on a lot of missed procurement reading!

I mentioned in my last post that I was in the middle of delivering a procurement focused supply chain risk development program. I’m not sure if it is my focus on risk right now, or the fact that risk management is becoming ever more important, but I continue to see more and more articles related to the topic.

And so for this week’s “Must Read”, I wanted to share an interview that I came across with Kevin Ingram of FM Global. I recommend FM Global’s Risk Resiliency Index report to all our program participants – it is a great resource to assess the likelihood of a risk event impacting the financial, business continuity or reputational impact of a product or service that you buy, based upon its location or the make up of its supply chain:

Risk Is Inevitable. Resilience Is Everything | Jeff Thompson, Forbes


2.
OTHER INTERESTING ARTICLES

10 Places to Look for New Procurement Recruits | Zelim Suleymanov, PrECA

How To Get the Procurement Stakeholder to Catch Your Ball | Nancy Clinton, Spend Matters

No Leverage? No Problem: Tips for turning a lack of negotiating leverage into a winning strategy | Nicholas Harasymczuk, Source One Management Services

Report: High risk will push supply chains to become shorter, simpler | Jennifer McKevitt, Supply Chain Dive

Here’s How Two Successful Entrepreneurs Turned Corporate America’s Inefficiency Into A Great New Business | Greg Satell, Inc

The Root Cause Of Maverick Spend | Procurious

Now is the Heyday of Indirect Procurement Innovation (Don’t Miss It) | David Hearn, CPO Advisement Services


3.
PROCUREMENT & SERVICE PROVIDER NEWS

Gordon Ramsay’s Brexit nightmare: chef hires team to halt rising costs | Rupert Steiner, The Guardian

SAP Ariba Live Event – Positive Customers, Light Sabres and Impressive Progress | Peter Smith, Spend Matters

Hard Brexit warning from CIPS economist | Will Green, CIPS


4.
@ THE ART OF PROCUREMENT

Podcast: A Procurement Leaders Guide to Spend Analysis (Part 1) w/ David Bush

Blog: The Struggle is Real, but the Solutions are Many: Building Effective Procurement Teams | Greg Tennyson, VSP Global

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.