Risk Management Supplier Management

105: US Elections – Proactive Risk Management in Uncertain Times

I sat down to record today’s episode just a couple of hours after Donald Trump emerged victorious in the US presidential election. And today, I am going to replay a discussion with CPO and former Chief Risk Officer Susan Grelling that I first published in the aftermath of the UK Brexit vote early in the year.

In our conversation, Susan shared the steps that procurement can take to help our organizations turn the management of market uncertainty and volatility into a competitive advantage.

iTunesSubscribe | Rate & Review

“When there is a period of fluctuation, you have no clue when the next shock to the system is.  You have to have options ready for all scenarios.” 

In this episode, you will learn:

  • The role that procurement can play in helping to mitigate the risks associated with market volatility:
    • How can you prepare for unknown unknown’s?
    • As a procurement organization, what can we do and where do we start?
    • How do we build a risk profile of all the products or services that our business sells?
    • How can we approach the subject of risk if we have never played an active role in managing or mitigating risk?
    • Why now is not the time to be a hero!

Links and Resources:

Thanks for Listening!

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.