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, Geoff 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.
iTunes | Subscribe | Rate & Review
“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
Links and Resources:
- Episode 28: How to Start Building a Procurement Data Analytics Program, with Eliot Knudsen
- Email contact@artofprocurement.com
- Art Of Procurement on Twitter
Thanks for Listening!
