The Coronavirus Pandemic is delivering an unprecedented challenge to the economic, emergency response, crisis management, and healthcare capacity of the global community. Much has been written about safety measures to curb the spread of the outbreak. Many nations are deploying various response mechanisms, National Guard deployment, school closures and nationwide state of emergencies are being implemented, enforced, and normalized. The…
The last decade has yielded many events, forces, and elements in which a greater concern and scrutiny of the concept of Vendor or Supplier Risk Management has risen. At the forefront are driven for Cost Reduction, Top Line Growth, and Competitive Advantage. Supplier Risk Management Processes are underpinned by: Identification of Potential Risks emanating from the interaction of buying…
Modern procurement risks are evolving daily, requiring effective risk mitigation strategies. The following are 3 pillars of Procurement Risk Management Strategy: Environmental Context:-All organizations are impacted by various factors to varying degrees. Understanding one’s business landscape and the environmental factors that underpin its existence is a critical exercise. Procurement Risks arise from socio-demographic, ecological, economic, competitive, political, technological, customer, product,…