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How the importance of risk management has changed for procurement – and what to do about it

Spend Matters

A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. It was around 2020 when I saw organizations really start to focus on risk, both the broader risk in their environment and the risks in their supply chain.”

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Be Prepared: Improving Supplier Risk Management In Your Business

ivalua

From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. With that in mind, let’s take a look at how supplier risk management can benefit your business and prevent the disruption of services. Understanding Supplier Risk Management. Consider this.

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Why are liquid networks in procurement important to understand?

Procurement Insights

What are liquid networks? February 2025 – A Liquid Network is a dynamic, decentralized, and adaptable system where ideas, information, and resources flow freely between interconnected participants, fostering innovation and collaboration. What impact do liquid networks have on procurement and ProcureTech?

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Best Practices & Strategies for Supplier Risk Management

TYA Suite

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.

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

Procurement Templates

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. Resources: Risk management certifications (e.g., PMI-RMP, ISO 31000).

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Supply Risk Solutions: Vendor Analysis — Supplier Risk Management solution overview, roadmap, competitors, user considerations, analyst summary

Spend Matters

In this Spend Matters Vendor Analysis, we provide an overview of Supply Risk Solutions and its solution for supplier (chain) risk management. Supplier risk management is crucial for a variety of reasons. It tracks geopolitical risk, natural disaster risk and financial risk.

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Resilinc: Vendor Analysis Update — Supply (chain) risk management solution overview, competitors, tech selection tips, analyst summary

Spend Matters

In addition, a slew of ESG-focused regulations came (and will continue to come) into force, requiring companies to understand their supply networks deeply. It brings granular and deep visibility into supply networks and constantly monitors and assesses risks associated with the many partners in a company’s supply chain.