Today, companies seem to be facing new challenges to remain competitively profitable and sustain the growth they have worked hard to achieve. Procurement faces many challenges in managing products and services to its stakeholders. One capability that needs to be seriously considered is the role that risk management plays into these challenges. A supply manager’s role is now becoming much broader in the sense that procurement must be able to identify procurement risks and craft risk mitigation strategies. Executive management is now shifting its line of site towards procurement as a coordinator who can assist in helping ward off these issues and really help reduce a company's potential vulnerability to potential supply management impacts.
This webinar discussion will help shed light on practical steps towards developing a risk management plan. These areas include:
•Types of risk
•Overall process framework
•Planning for outcomes
•Example steps to implement a mitigation strategy for identified risks
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