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Saturday, February 04, 2012

Risk Management

 

Warren Buffet famously said that "risk comes from not knowing what you're doing". Although this is certainly true, it falls short of explaining the plethora of risks modern businesses and their procurement functions face - suppliers and supply chains can stretch globally, opening them to anything from natural disasters to terrorist attacks.

For procurement, risk management represents the process of measuring or assessing risk and then developing the right strategies. Often, however the strategies are inadequate to cope. They are designed as mere continuity plans and filed away.



Procurement needs to address risk management head on, incorporating it within corporate strategies, integrating it within the business and defining its importance across the organisation.

SUPPLY RISK COMMENT

SUPPLY RISK PRESENTATIONS

The Big Debate. What is the future of procurement? Online Global Members only
Procurement has already changed in most large organisations from a mainly transactional back office role to a more central, strategic function with executive-level reporting lines. But how will the changing economic and supply market dynamics, as well as new trends, affect your operations in the next 5 years?

‘CPO Talk’ - How to tackle raw materials and commodity inflation Online Global Members only
No company can escape overall trends and in current times of rising commodity prices and inflation there is only so much we can do. However, the pressure for procurement is on and even small victories can offer competitive advantage and reduce the negative impact to the bottom line.


This Knowledge Group will examine the critical steps that organisations must take to deliver flexibility up and down the supply chain and across procurement. It will highlight best practice methodologies to enable companies to make pre-emptive decisions to minimise risk and liability.

If you are interested in becoming a member of the advisory board of this Knowledge Group, please contact us on +44 (0) 207 501 0538.



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