The operative word on everyone’s minds right now is RISK.
Whether it’s COVID-19 or oil prices, supply chain impacts or financial market concerns – creating the right action plans to mitigate that risk as best as possible is top priority for organisations across the globe.
In this week's episode from Inside Procurement, Omer Abdullah explores the top-10 tangible steps that organisations can consider across their supply chains, in order to ensure thoughtful and rigorous response to the current uncertainties.
Watch the full video to learn more about these 10 big-ticket, risk-mitigation activities:
- Take care of your people
- Analyse internal risks
- Conduct scenario analyses
- Talk to customers
- Develop plans for strategic categories
- Examine logistics implications
- Assess liquidity
- Assess supplier health
- Think ahead
- Work with facts, and manage emotions
Be sure to subscribe to our bi-monthly series for the latest concepts and ideas that influence procurement and supply chain executives. You can also read more about our Procurement and Supply Chain solutions