The theme of this year's CIPS Premier Conference, taking place in London today and tomorrow, is Risk and Reward in a global marketplace, and buyers have been challenged by the chair of the event, professor Mike Lewis of the University of Bath, to take the theme personally.
"If you are not willing to take a personal risk, it's a bit rich taking risks for your company," he said.
Purchasers are well known for their aversion to risk, and there are many good reasons to hedge your bets. But can truly innovative purchasing succeed without risk? Looking at the high profile transformations featured recently in SM, each one has an element of risk, but the buyer in each case is confident it can be overcome.
Where is the balance between risk and reward to be found? Should purchasers be more inclined to err on the side of caution, or should they throw caution to the wind more often?