How can we work collaboratively with our suppliers to manage and mitigate risk? That is the question I put to today’s guests on the Art of Procurement, Margaret Gilbert and Anthony English.
Margaret is the Director of Corporate Contracts Management, where she works with buyers and suppliers in all areas of procurement and contracting. Anthony has enjoyed a long career as an IT consultant working as a supplier inside both large and small organizations, and together they are co-authors of ‘Contract Matters: Procurement and Risk: A practical guide for buyers and suppliers’.
I invited Margaret and Anthony on the show because I wanted to understand the supplier perspective, and the unintended consequences of some of the decisions we make!
“If a company doesn’t have a risk management plan, then that is an urgent urgent matter that procurement must take up and put something in place as a protection for the organization.”– Margaret Gilbert
Highlights from the Show Include:
- Margaret outlines the three categories of risk and how risk response – not risk elimination – should be procurement’s focus.
- Anthony connects the dots between business objectives and productive management of risk.
- Both guests talk about how procurement often responds to risk by focusing on the risk – rather than considering the decisions and conditions leading to that risk.
- Anthony talks about how to vet (and support) supplier business continuity plans so they do more than ‘check the box’.
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