Identifying and Measuring Supplier Risk

Navigating risk is critical for any business. Supply management professionals require knowledge, skills and tools to effectively understand the scope of risk, domestically and internationally. This ISM supply management course on risk management will show you how to identify risk and prepare a risk-management strategy in a dynamic business environment. You will learn how to deliver proactive solutions to ensure your organization is adequately prepared for the known and unknown.

Course Objectives:

• Supply Management Risks in Global Business:
• Gain clarity on risk management within the supply chain ecosystem.
• Understand your organizational risks.
• Identify benchmarks and solutions.

Five Key Points:

• Learn the five key points to consider when discussing risk management
• Segmentation Strategies for Risk Levels:
• Understand that the portfolio matrix is the basis of risk management strategy.
• Explore the interrelationship between types of suppliers, value of spend, market complexity, and the risk management strategies appropriate for each situation.

Strategies for Risk Management:

• Identify how appetites for risk varies among organizations.
• Discover four strategies and their applications when working with four different types of vendors.

Risk Tools to Optimize Resources:

• Learn how to leverage tools to plot categories or suppliers on the matrix.
• Understand how this approach helps prioritize activities and focus attention on appropriate strategies.

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