Risk Management

2020: The End of Procurement

Posted: 04/10/2020 - 04:46
Author: Amanda Prochaska
Procurement in 2020

A new year and a new decade brings about the end and the beginning of many things. Hopefully the new decade brings an end to the angry woman and cat meme as well as the retirement of the man bun (sorry, it’s not my style). All kidding aside, the new decade brings hope, a chance to renew, a time to reflect and an opportunity to leave the past in the past.    

Libby Weber: The Importance of Framing Your Contracts

Posted: 03/23/2020 - 01:48
Author: Kate Vitasek
Preventive Contract Framing

Libby Weber - Associate Professor of Strategy at The Paul Merage School of Business, University of California, Irvine - promotes a way of thinking about contracts beyond their traditional “preventive” role of avoiding risk, preventing breaches or opportunistic behavior.

Her premise? Why not use contracts to promote cooperation, flexibility, and creativity?

Can B2B Transactions Help Tackle Today’s Most Pressing Challenges?

Posted: 11/22/2019 - 05:17
Author: Paul Polizzotto
The role of business is quickly changing. Consumers, employees and investors expect businesses to act sustainably with more transparency – while also giving back to the communities that they operate in. To drive corporate social responsibility and sustainability holistically, companies need to examine their actions and operations to ensure their day-to-day activities align with the organization’s larger corporate commitments.  
 

Supply Chain Transparency Critical to Slowing Down the Amazon Deforestation

Posted: 11/10/2019 - 06:36
Author: Franco Vessio
Supply Chain_Transparency_Amazon
Over the last months, the Amazon deforestation rate was an area of Manhattan every day, following reports that farmers were clearing land for crop fields and cattle ranches, as the new Brazilian government was opening up the region to economic activity. According to the country’s National Institute for Space Research, Brazil (the world’s largest beef exporter) had over 72,000 fire outbreaks this year, with more than half of them located in the Amazon. This number represents an 84-percent increase compared to last year.
 

Lessons Learned in Managing Security Risk when Outsourcing Services

Posted: 10/14/2019 - 00:54
Author: Dan Pinto
It seems that I have reached a point in my career where I have to acknowledge that I am not one of the young guys anymore. As I support my customers and assess the state of their Risk Management capabilities, I continue to find that I rarely see issues that I have not seen before. I guess that is the benefit of having worked in this field for a couple of decades. But it is also an indication that the lessons that are being learned in one segment of industry are not becoming common practice in other segments.

Procurement Risk – Limited Visibility of the Supply Chain

Posted: 10/04/2019 - 23:44
Author: Martin Stark
A few weeks ago, I reviewed the 2018 Deloitte Global Chief Procurement Officer Survey and was not surprised that cost reduction, new products/market development and managing risks remain the top three business strategies for procurement. Sixty-five percent (65%) of procurement leaders report having limited or no visibility beyond their Tier 1 suppliers.

Cognitive Procurement is Trending and Cognitive Outsourcing is Up Next

Posted: 05/25/2019 - 01:29
Author: Khiv Singh

There has been a lot of buzz about “cognitive procurement,” the application of artificial intelligence (AI) to support buying goods and services to free up humans to handle valuable procurement functions that AI cannot manage.

The same advanced technologies that are making procurement smarter, more efficient and more data-driven, can be used to make outsourcing relationships leaner, more profitable and more advantageous. 

4 Ways Brexit Will Impact Your Procurement and Sourcing Practices

Posted: 04/03/2019 - 04:59
Author: Jeremy Smith
Brexit. That’s a fun topic, isn’t it?! Regardless of what you may think about it, you cannot but notice the impacts it is already having on businesses across Europe. The indecision of the United Kingdom (UK) to approve a plan is holding back investment and decision making. The markets and currencies are fluctuating and will continue to do so until a decision is finally made.  
 

Why Going Alone in Cybersecurity is a Non-Starter

Posted: 02/07/2019 - 01:47
Author: Umesh Gowda
Are cybersecurity threats overblown or hyped up? It would be nice if that were the case. Then we’d have one less bucket of things to worry about. 
 
Unfortunately, the headlines are not fiction. Bad actors are stealing data, inflicting pain, and damaging corporate finances and brand reputations every single day. And it appears that they will continue doing so. 
 

Women in Global Sourcing: Linda Tuck Chapman

Posted: 01/10/2019 - 06:32
Author: Linda Tuck Chapman
Tell us about your career path. How did you get into this field? Was it purposeful or by accident? 
 
I’ve been very fortunate to have a truly satisfying and rewarding career. My work is intellectually stimulating, relies on a broad range of expertise, experience, and skills, and signed me up for lifelong learning. When I found this profession, I found my passion …. and never looked back.  
 

Hiring in a new state? Here’s what you need to know.

Posted: 12/21/2018 - 03:07
Author: Melanie Pol
It’s an exciting time for your business – you’re looking to expand and hire workers in a new state. This might be your first time and you’re beginning to realize that it comes with heaps of administrative items, set-up and legal considerations. There are some important processes to establish to ensure that you can support your workers while also staying compliant with each state’s employment laws.  
 

Addressing Ethical Supply Chains One Step at a Time – From Intent to Action

Posted: 12/12/2018 - 01:18
Author: Padmini Ranganathan
This month, the U.K. government alongside the U.S., Canada, Australia and New Zealand, raised the bar for companies “to conduct appropriate due diligence in their supply chains to identify, prevent and mitigate human trafficking” to remediate modern slavery. It is no longer enough to just be aware and acknowledge that companies expect every supplier to sign a code of conduct – companies also need to demonstrate the action and the impact. 
 
This is where the rubber meets the road. 
 

How to Keep Bad Weather from Killing Your Logistics

Posted: 12/11/2018 - 04:15
Author: Brian Seipel
Supply lines never look as vulnerable as they do when inclement weather strikes. At best, trucks face major delays as accidents and poor conditions make roads treacherous and, at worst, they suffer accidents of their own. Routinely, air carriers remain grounded while affected areas hunker down and airports close. Don’t think you’re safe even if you fall outside a storm’s high-impact area.

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