“I don’t know that it’s possible for a procurement leader to say that they really have a high performing procurement and sourcing organization without embracing and taking some ownership for risk.”
Risk management may not always be a formal part of procurement’s scope, but it is a natural extension of our current work. As a result, the difference between procurement’s ability to effectively manage risk may be as simple as officially declaring that it is in scope and embracing all of the activities and metrics that come with it.
Canda Rozier is a multiple-time CPO with experience working across a number of leading global organizations and the President and founder of Collabra Consulting. She has always regarded risk management as important as part of the supplier life cycle, but it has risen in both priority and prominence since the start of 2020.
In this conversation, Canda speaks with Host Philip Ideson about:
- How to measure and set expectations for the ROI associated with a formal risk management program
- How risk management efforts change for product v. service categories
- Where data security and cybersecurity intersect with more traditional supply chain risk management efforts