Risk Tools


Risk management in procurement involves understanding risks that can impact an organisation and implementing strategies to mitigate and manage those risks.

 

Managing risk in the supply chain continues to be a challenge for professionals and this has been heightened by the Coronavirus pandemic. Procurement must focus on increasing transparency across their supply chains, increasing traceability and enabling them to proactively :

-          Identify risks and prioritise

-          Evaluate risks

-          Manage risks

-          Minimise risks

-          Contingency planning

 

Mitigating and managing supply chain risk is key for organisations to become more resilient and responsive and give you a strategic advantage over your competitors.

 

Helping your organisation prepare for supply chain risk management can occur in a number of ways, including an internal and external audit of supply chain risks and strong contingency planning.

 

CIPS members can access the risk tools below to help identify, evaluate and manage these potential and actual risks that can impact an organisation  and its supply chain, and help you to implement strategies to mitigate and manage those risks.