168: Building Risk Tolerance without Losing Urgency w/ Margaret Gilbert and Anthony English

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’.

Links and Resources:

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.