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, 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.
“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:
- Geopolitical risk
- Concentration risk
- Strategic risk
- Reputational risk
- Compliance risk
- Operational risk
- Financial risk
- Contractual risk
Episode Transcript (PDF):
- Click here to download a copy of today’s episode transcript (PDF).
Links and Resources:
- 21 Tips to Help Secure Your Dream Procurement Job
- Episode 28: How to Start Building a Procurement Data Analytics Program, with Eliot Knudsen
- Episode 3: The Top 3 Priorities for Procurement Leaders in 2016, with Geoff Talbot
- Recommend a guest for The Art of Procurement
- Email firstname.lastname@example.org
- Art Of Procurement on Twitter
Thanks for Listening!