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Sponsored by Lorman Education
Product ID: 406045EAU
 
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5 Ways to Build a Supplier Management Risk Program

OnDemand Webinar (86 minutes)

Learn more on the major types of contribution strategies that can help overall ERM success.With between 40% to 80% of a typical organization's operational footprint now taking place outside of the company's walls it is imperative that a procurement team must deeply impact the field of Enterprise Risk Management (ERM). How do leading procurement groups ensure visibility into supplier financial stability, proper compliance with governmental watchlists, vetted insurance protections, supplier performance, force majeure risks, and other real-world exposures? This topic shares leading practices that any group can use to create a comprehensive Supplier Risk Management Program; which is regarded by many as the highest ROI contribution of any ERM investment.

Authors

Mark J. Trowbridge, CPSM, C.P.M., MCIPS, Strategic Procurement Solutions, LLC

Agenda

The Importance of Enterprise Risk Management (ERM)

• What Is Enterprise Risk Management (ERM); ERM Theory - Methods of Managing Risk

• ERM Theory - Methods of Managing Risk

• Examples of Risk in the Value Chain

• How Can Procurement Contribute to an ERM Strategy?

Examples of Supply-Related Risk in Three Types of Organizations

Five Practical Techniques to Manage Supplier Risk

• Be More Strategic in Contracting

• The Risk Trifecta

• Optimize Supplier Portfolio and Redundant Capacity

• Visibility Into Supplier Financial Stability and Governmental Compliance

• Diligence in Supplier/Contractor Capabilities and Performance

Lessons Learned - Methods to Accomplish Excellence