Free online risk tool launched

26 April 2017

A new online risk and resilience assessment tool to help procurement professionals build these qualities into their own supply chains has been launched.

The tool, developed by CIPS, aims to help organisations manage risk and develop robust mitigation strategies.

Its launch comes as supply chain risk climbs to its highest position for 24 years in the CIPS Risk Index.

A CIPS survey of 900 procurement professionals in 2016 found 46% of respondents “sometimes” have risk mitigation strategies in place. However, 52% expected the same level of service from their suppliers in the event of a disruption.

The Risk and Resilience Online Assessment Tool helps identify where specific risk exists in respondents’ supply chains.

It focuses on seven key areas of risk: geographical, functional, performance, technical, governmental, ethical and legal.

The tool, which takes around 15 minutes to complete, provides a detailed review of resilience in the supply chain which leads to a report highlighting weak areas and where to go for more support and guidance.

“In the future, the tool will be a benchmark opportunity to match an organisation’s risk profile against others,” said CIPS, which last year launched the Supply Chain Risk and Resilience good practice guide.

Andrew Coulcher, CIPS group director of membership and knowledge, said: “Now more than ever, supply chain professionals need every device available to them in risk and resilience to manage the vagaries in this ever-changing landscape of socio, political, legal and ethical impacts.

“The CIPS Risk and Resilience Tool will provide valuable insights to make organisational supply chains more robust, and able to withstand the forces we are likely to experience in the coming years.”

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