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A procurement professional’s guide to risk events and mitigation strategies — FMCG

Spend Matters

As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways. And we must remember that one cannot escape supply chain risks.

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Here’s a comprehensive list of the top 100 skills that a Procurement Manager should master

Procurement Templates

Audit Supply Chains: Identify and address environmental and social risks in the supply chain. Risk Management Actionable Steps: Identify Risks: Develop a checklist of potential procurement risks, such as supply chain disruptions or quality issues. Monitor Continuously: Use procurement dashboards to track risk indicators.

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A formula for success

Procurement Leaders

At the same time, he sought to instil common values and behaviours in his new team: a willingness to take risks, a collaborative mindset, being prepared to accept accountability and a pioneering mindset are among the traits he looks for in talent. The third secret – and a vital one – was to embrace an “all or nothing” mentality.

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Ineffective leadership poses biggest people risk to organizations today, HR pros say

Supply Chain Dive

Inadequate succession planning and poor use of worker skills are among concerns worsened by poor management, according to a report from Mercer and Marsh.

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What About Procurement Objectives?

Procurement Templates

Risk Mitigation: Identify and manage procurement risks by ensuring supplier reliability, diversifying sources, and monitoring market trends. When committing an organisations spend, we are facing risks from all angles, consider whether if its a risk or an issue and how these can be mitigated early.

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Stakeholder management in procurement digital transformation: Why, what, how?

Spend Matters

Internally, procurement teams must collaborate closely with finance, IT, legal and operational leadership, each with distinct priorities and decision-making authority. Legal teams emphasize regulatory compliance, contract enforcement and risk mitigation. IT departments prioritize system integration, security and usability.

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How to Manage Supplier Risk and Performance in an Uncertain Global Economy

ivalua

Originally published on Risk Management Monitor. The job of procurement is to ensure performance is as promised, risk is low and business objectives are being met through collaboration. Ivalua Supplier Risk and Performance Management Checklist. Secure executive buy-in from procurement, supply chain and IT leadership.

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