Risk management and Strategy - Purchasing & Procurement Zone

Risk management solution providers and what their customers really want – Brooklyn Solutions

Spend Matters

OCTOBER 31, 2024

To round off that perspective we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to Risk Management for an explanation of this complex environment.

Risk management

Risk management Risk Management Real-time Visibility

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

Spend Matters

OCTOBER 31, 2024

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.”

Risk management

Risk management Risk Import Real-time Visibility

ESG goals are a risk management necessity — An interview with Peter Smith

Spend Matters

DECEMBER 5, 2024

The coronavirus pandemic and recent weather catastrophes have made the case for most types of risk management and what one can do to mitigate the risk more obvious. In ESG-related issues, and in the case of forced labor in particular, the discussion around the risks these pose is more nebulous.

Risk management

Risk management Risk Management supply chain software solutions

Webinars

Staying Ahead of UFLPA Enforcement: Best Practices for Retail Supply Chains

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

Spend Matters

NOVEMBER 19, 2024

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.

Risk

Risk Strategy Agile and Lean Supply Chain Supply Chain Optimization

What are the best Supply Chain Strategies for 2021

ivalua

NOVEMBER 26, 2020

Supply Chain Strategies: What the Pandemic Has Taught Us So Far? Supply Chain Risk Management on the World Stage – Lessons Learned. As we began to study supply chains, it became obvious why the supply chain strategies have evolved in this fashion.

Agile and Lean Supply Chain

Agile and Lean Supply Chain Supply Chain Efficiency Supply chain Strategy

Best Practices & Strategies for Supplier Risk Management

TYA Suite

NOVEMBER 15, 2024

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.

Risk management

Risk management Risk Suppliers Strategy

Risk Management Strategies From Leading Sourcing Consultants

Procurement Freelancers

DECEMBER 17, 2024

Sourcing consultants now… The post Risk Management Strategies From Leading Sourcing Consultants first appeared on Procurement Blog | Procurement & Supply Chain News. Market uncertainties across the globe have transformed how businesses approach procurement practices.

Risk management

Risk management Sourcing Risk Strategy

Navigating the top 5 third-party risks in procure-to-pay processes

Spend Matters

DECEMBER 10, 2024

This dependency, while essential, introduces potential risks that can lead to operational delays, regulatory penalties and financial instability if not effectively managed. The post Navigating the top 5 third-party risks in procure-to-pay processes appeared first on Spend Matters. This content is for members only.

Risk

Risk Risk management Procurement Supply chain

Tariffs and Procurement (Part 3): Tech capabilities for proper tariff management

Spend Matters

DECEMBER 16, 2024

In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. Design-for-Supply part 1, part 2, part 3 and part 4.

Agile and Lean Supply Chain

Agile and Lean Supply Chain Management Supply Chain Efficiency Supply Chain Optimization

Be Prepared: Improving Supplier Risk Management In Your Business

ivalua

JUNE 10, 2020

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.

Risk management

Risk management Risk Suppliers Management

Defining the terms of risk management

Spend Matters

SEPTEMBER 26, 2024

Broadly speaking, the variety of possibilities for risk is covered by the acronym VUCA: V for rapid volatility, U for uncertainty, C for the complexity of interconnected systems and A for ambiguity. Risks are identified, assessed and prioritized based on their likelihood and potential impact.

Risk management

Risk management Risk Management Sustainability

What is the importance of risk management to procurement?

ProcurePort

NOVEMBER 10, 2023

Holistic Risk Management Approach: Proactive Identification: Implementing proactive measures to identify and assess diverse risks, ranging from supply chain disruptions to market fluctuations, regulatory changes, and operational inefficiencies. appeared first on ProcurePort Blog.

Risk management

Risk management Risk Import Management

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

Procurement Templates

NOVEMBER 21, 2024

Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Detailed strategies for improving procurement skills Improving procurement skills involves a mix of education, practice, mentorship, and exposure to new tools and methodologies. Coursera, LinkedIn Learning).

Agile and Lean Supply Chain

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions

It’s Time to Rethink Supply Chain Risk Management

ivalua

SEPTEMBER 19, 2022

The past few years have highlighted serious deficiencies in prevalent supply chain strategies and the major risk that disruptions pose to corporate success. More robust contingency plans that complement current strategies might suffice. . Shifting Category Strategies. The same applies to supply chains.

Risk management

Risk management Supply Chain Efficiency Supply Chain Optimization Risk

Watch: How Do You Get Started on Your Supply Chain Risk-Management Journey?

Supply Chain Brain

JUNE 19, 2024

When vetting potential suppliers and customers, it's vital to assess their risk-management profiles and strategies, says Danny Thompson, chief product officer at apexanalytix.

Risk management

Risk management Risk Management Supply chain

Spend Matters Future 5 2024 – Introducing Halo Ai

Spend Matters

NOVEMBER 7, 2024

This realization planted the seed for a solution that would later become Halo Ai — a system designed to create comprehensive risk profiles for third parties, enabling organizations to operationalize their risk management strategies more effectively. What is the road ahead for Halo Ai?

Supply Chain Efficiency

Supply Chain Efficiency Risk management Real-time Visibility Ethics

Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

SCMDOJO

JANUARY 9, 2025

This article delves into how these two elements, working together, can transform procurement strategies into long-term competitive advantages. It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency.

Strategic sourcing

Strategic sourcing Strategic sourcing Sourcing Procurement

5 Strategies to Minimize Supply Chain Disruptions

All Things Supply Chain

DECEMBER 11, 2024

Resilience in supply chain management is essential for keeping businesses steady amid global disruptions like natural disasters, geopolitical shifts and economic shocks. Companies that build resilient supply chains are better…

Supply chain

Supply chain Strategy Supply chain management Supply chain management

How to Build and Execute an Effective Supplier Risk Management Strategy

Supply Chain Brain

MAY 7, 2024

Managing a global supply chain has never been more challenging, with complex, ever-evolving regulations, increasingly frequent extreme weather events, volatile geopolitical crises, and sophisticated cybercrime.

Risk management

Risk management Management Risk Strategy

Electronics OEMs Need to Revise Their Supply Chain Risk Management Strategies

Supply Chain Brain

OCTOBER 19, 2022

Where OEMs in the past could concentrate on securing supply of expensive components, now they have to think about everything that goes into production, including raw materials, too.

Raw materials

Raw materials Risk management Risk Strategy

Risk-Management Strategies for Ensuring Facility Safety and Reliability

Supply Chain Brain

DECEMBER 13, 2023

It’s impossible to put a price on safety at manufacturing and logistics facilities. World-class organizations know it’s directly tied to their ability to succeed.

Risk management

Risk management Risk Strategy Management

What About Procurement Objectives?

Procurement Templates

DECEMBER 11, 2024

Implement Lean Procurement Practices: Use lean management principles to minimize waste and streamline procurement operations. Create Contingency Plans: Develop risk management protocols for supply disruptions and emergencies. finance, operations, and legal teams) to align procurement strategies with business goals.

Procurement

Procurement Supply Chain Efficiency supply chain budgeting Cost of ownership

Strategic Sourcing Best Practices – Proven Strategies for Procurement Success

Jaggaer

FEBRUARY 5, 2025

Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy. Supplier Risk Assessment – In an increasingly large number of cases, a detailed supplier risk assessment might be required to determine whether the lowest bidder is the best overall choice.

Strategic sourcing

Strategic sourcing Strategic sourcing Sourcing Strategy

Analyst Eye on CPO shift in focus towards third-party risk management

Spend Matters

AUGUST 8, 2023

Everyone is well aware of the cause of this attention amplification: scarcely any business escaped the repercussions of pandemic, but as our research analyst Abigail Ommen puts it: “Prior to the Covid 19 pandemic, only a small subset of people was acutely aware of risk management.

Risk management

Risk management Risk Management supply chain budgeting

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

Spend Matters

MARCH 25, 2025

How procurement can effectively manage stakeholders To drive digital transformation, procurement leaders must take a structured approach to identifying, engaging and collaborating with stakeholders. Conclusion Stakeholder management is the linchpin of procurements digital transformation efforts.

Stakeholder engagement

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Preventing payment fraud: Strategies for financial protection

Spend Matters

JUNE 20, 2024

Image courtesy of Corcentric Understanding and preventing invoice fraud The first step in combating payment fraud and dealing with supplier risk management is understanding its various forms. The increasing complexity of the digital economy demands robust strategies to combat payment fraud.

Strategy

Strategy Risk Suppliers Risk management

CPO Crunch: A brave new world calls for brave new strategies

Procurement Leaders

SEPTEMBER 9, 2024

But one of those present, representing a US-based speciality chemicals business, raised one issue, in particular, which is going to be fundamental to both boardroom discussions and CPO strategies over the coming years: single-source. Procurement, again, is fundamental to much of this thinking.

Strategy

Strategy Chief Procurement Officer Supply Chain Efficiency Supply chain

A Deep Dive into AI in Manufacturing: Strategies, Benefits, and Use Cases

Jaggaer

APRIL 9, 2025

How AI is Transforming Manufacturing: Strategies, Benefits, and Use Cases Artificial Intelligence (AI) is a huge topic and one that is constantly changing as research and development efforts push out the boundaries of whats possibleand whats already happening!

Strategy

Strategy Supply Chain Optimization Supply Chain Efficiency Quality

Managing risks, priorities and talent: Nestlé’s approach to the polycrisis

Procurement Leaders

JANUARY 16, 2023

. “The last couple of years have really shown businesses the value of procurement – and not just as a purchasing function/PO function, but the strategy of procurement and the value we bring in managing risk,” she says. ” Leveraging long-standing risk management expertise.

Risk

Risk Management Risk management Strategic planning

3 keys to building a robust hybrid cloud risk strategy

IBM Supply Chain Blog

OCTOBER 23, 2023

71% of executives think it’s difficult to realize the full potential of a digital transformation without having a solid hybrid cloud strategy in place. [1] But what does such a strategy entail? There are three keys to developing a successful hybrid cloud risk management strategy : security, compliance and resiliency.

Risk

Risk Strategy Risk management Innovation

A procurement digital transformation survival guide for practitioners: How to embrace digital without getting lost on the way

Spend Matters

FEBRUARY 5, 2025

Real transformation demands a mix of creativity, strategy and much patience. Change management isnt a sidekick in this story; its the star of the show. Designing and implementing the transformation : addressing the gaps (people, process, technology); designing the organization; rollout options and strategies; skills allocation.

Procurement

Procurement Change management Strategy supply chain budgeting

2011 To 2025: The Evolution Of How The C-Suite And Boardroom Views Procurement

Procurement Insights

JANUARY 3, 2025

Key metrics were tied to cost reduction and spend under management. Minimal Strategic Involvement : Procurement was often siloed, with limited involvement in broader corporate strategies. Procurement is no longer judged solely on cost savings but also on metrics like risk mitigation, supplier diversity, and innovation impact.

Agile and Lean Supply Chain

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement

4 smart technologies modernizing sourcing strategy

IBM Supply Chain Blog

FEBRUARY 28, 2024

Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits. In sourcing strategy, blockchain technology helps track orders, payments, accounts and more. Blockchain Information is an invaluable business asset.

Sourcing

Sourcing Strategy Supply Chain Efficiency e2e

5 Biggest Mistakes Supply Chain Managers are Likely to Make in 2021

All Things Supply Chain

MARCH 22, 2021

The recent worldwide turmoil due to the pandemic has forced organizations to rethink their supply chain strategy. Particularly, right now there is no room for supply chain managers to let…

Supply chain management

Supply chain management Supply chain management Supply Chain Optimization Supply chain

Building a Procurement Strategy Roadmap for Success

Skill Dynamics

JULY 19, 2024

Let’s take a look at how you can develop and implement your procurement strategy roadmap from start to finish and address key challenges you may face along the way, as well as save costs and mitigate risk. While this is a welcome shift in global procurement strategy, it’s forcing companies to adapt their procurement strategy roadmaps.

Procurement strategies

Procurement strategies Strategy Procurement supply chain budgeting

The Best Ways to Use Project Management to Build Resilient Supply Chains Amid Global Disruptions

SCMDOJO

FEBRUARY 15, 2025

One of the most effective strategies for building resilience is integrating project management into supply chain operations. Structured methodologies, risk assessment tools, and agile frameworks allow companies to improve coordination, enhance decision-making, and ensure they remain adaptable to disruptions.

Project management

Project management Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization

Agentic AI in Supply Chains: The Future of Decision Making

SCMDOJO

FEBRUARY 16, 2025

From rule-based systems to predictive analytics and the generative AI boom, businesses have leveraged these technologies to optimize operations, forecast trends, and create data-driven strategies. Symphony AI Symphony AI provides AI-driven enterprise supply chain management, offering real-time insights and risk management solutions.

Supply Chain Efficiency

Supply Chain Efficiency Supply Chain Optimization supply chain budgeting Agile and Lean Supply Chain

Procurement Strategy’s Role in Guarding Against Supply Chain Disruptions

SCMDOJO

FEBRUARY 21, 2025

Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Want to future-proof your procurement function?

Agile and Lean Supply Chain

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain

Data protection strategy: Key components and best practices

IBM Supply Chain Blog

MAY 28, 2024

While every data protection strategy is unique, below are several key components and best practices to consider when building one for your organization. What is a data protection strategy? Why it’s important for your security strategy Data powers much of the world economy—and unfortunately, cybercriminals know its value.

Data

Data Strategy Risk Real-time Visibility

Why should-cost models aren’t sufficient to drive market-competitive cost structures

Spend Matters

JANUARY 23, 2025

The core assumption of should-cost analysis is flawed Should-cost models assume cost-plus pricing, but most companies, especially in competitive industries, use value-based, dynamic, or competitive pricing strategies to optimize profits by focusing on customer value rather than production costs.

Price

Price Negotiation supply chain software solutions Supply Chain Optimization

Navigating Global Supply Chain Disruptions: Strategies for Resilience

SCMDOJO

APRIL 22, 2024

Supply Chain Risk Management, or (SCRM for short), is an already expanding industry, and with artificial intelligence becoming more intelligent by the day, it’s going to be an integral part of any supply chain analysis. Conclusion The complexities of global supply chains demand proactive strategies to navigate disruptions effectively.

Agile and Lean Supply Chain

Agile and Lean Supply Chain Supply Chain Efficiency supply chain software solutions Supply chain

Now Is the Time to Proactively Address Supply Chain Risk Mitigation

Supply Chain Brain

SEPTEMBER 25, 2024

Traditional supply chain risk-management strategies are based on limited and static sources of insight, and often fail to support cross-functional collaboration

Risk

Risk Supply chain Risk management Supply

Successful Supplier Risk Management Requires a Balanced Trinity: Strategy, Governance and Resources

Supply Chain Brain

MARCH 12, 2025

A successful supplier risk framework will only be successful if a well thought out strategy is supported by a governing body and aligned resources.

Risk management

Risk management Risk Strategy Suppliers

Procurement Strategies and Innovation – A CPO treasure chest

Spend Matters

MARCH 11, 2024

So it was good to see a nice mix of both presenting at Procurement Strategies and Innovation (PSI) last week. Tech newcomers to PSI and Spend Matters FISCAL We met David Griffiths, CEO of FISCAL , a P2P risk management solution offering fraud forensics and SaaS risk software.

Procurement strategies

Procurement strategies Innovation Strategy Procurement

Risk management solution providers and what their customers really want – Brooklyn Solutions

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

Webinars

Trending Sources

ESG goals are a risk management necessity — An interview with Peter Smith

Webinars

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

What are the best Supply Chain Strategies for 2021

Best Practices & Strategies for Supplier Risk Management

Risk Management Strategies From Leading Sourcing Consultants

Navigating the top 5 third-party risks in procure-to-pay processes

Tariffs and Procurement (Part 3): Tech capabilities for proper tariff management

Be Prepared: Improving Supplier Risk Management In Your Business

Defining the terms of risk management

What is the importance of risk management to procurement?

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

It’s Time to Rethink Supply Chain Risk Management

Watch: How Do You Get Started on Your Supply Chain Risk-Management Journey?

Spend Matters Future 5 2024 – Introducing Halo Ai

Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

5 Strategies to Minimize Supply Chain Disruptions

How to Build and Execute an Effective Supplier Risk Management Strategy

Electronics OEMs Need to Revise Their Supply Chain Risk Management Strategies

Risk-Management Strategies for Ensuring Facility Safety and Reliability

What About Procurement Objectives?

Strategic Sourcing Best Practices – Proven Strategies for Procurement Success

Analyst Eye on CPO shift in focus towards third-party risk management

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

Preventing payment fraud: Strategies for financial protection

CPO Crunch: A brave new world calls for brave new strategies

A Deep Dive into AI in Manufacturing: Strategies, Benefits, and Use Cases

Managing risks, priorities and talent: Nestlé’s approach to the polycrisis

3 keys to building a robust hybrid cloud risk strategy

A procurement digital transformation survival guide for practitioners: How to embrace digital without getting lost on the way

2011 To 2025: The Evolution Of How The C-Suite And Boardroom Views Procurement

4 smart technologies modernizing sourcing strategy

5 Biggest Mistakes Supply Chain Managers are Likely to Make in 2021

Building a Procurement Strategy Roadmap for Success

The Best Ways to Use Project Management to Build Resilient Supply Chains Amid Global Disruptions

Agentic AI in Supply Chains: The Future of Decision Making

Procurement Strategy’s Role in Guarding Against Supply Chain Disruptions

Data protection strategy: Key components and best practices

Why should-cost models aren’t sufficient to drive market-competitive cost structures

Navigating Global Supply Chain Disruptions: Strategies for Resilience

Now Is the Time to Proactively Address Supply Chain Risk Mitigation

Successful Supplier Risk Management Requires a Balanced Trinity: Strategy, Governance and Resources

Procurement Strategies and Innovation – A CPO treasure chest

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