In every organisation there is risk attached to procurement decisions

Tuesday, September 3rd, 2013

In every organisation there is risk attached to procurement decisions.

Mismanaged risk, create losses and cause severe reputational damage.  A structured and rigorous evaluation process of procurement risks is not available, hence our recent investment in designing such a process tool to provide actionable data to identify and manage procurement risk, ‘Procurisk®’.

Procurisk® is an online assessment tool, which users can complete to receive a risk positioning status. We also offer the option of consulting-type support from Brian Farrington Ltd (BFL) to verify the assessment and be involved in the development of improved actions.  This support is underpinned by our extensive international experience in the private and public sectors.

Procurisk® has twelve structured facets of Procurement & Supply Chain risk, including financial risks. These cover an impressive scope, namely:

  • Financial Risks
  • Contract Risks
  • Supply Market Risks
  • Supplier Relationship Management Risks
  • IT Systems Support Risks
  • Procurement Dependency Risks
  • Intellectual Property Risks
  • Pricing Decision Risks
  • Vendor Risks
  • Procurement Performance Visibility Risks
  • Intellectual Capital Risks
  • Contract Management Risks

 Brian Farrington Ltd

BFL is one of the world’s longest established procurement and supply chain consultancy and executive training specialists. BFL was established in 1978, and its professionals have worked with 33 FTSE 100 firms as well as leading organisations in North America, Southern Africa and Asia. Brian Farrington is well known to many in the procurement profession as the co-author of “Purchasing and Supply Chain Management”, now in its 8th edition.

Identifying risks and helping clients derive mitigation strategies is our stock-in-trade.  We have, for example, experience in construction, IT, outsourcing, retailing, automotive, aerospace, engineering, shipbuilding and many others.

In every organisation there is risk attached to procurement decisions.  For details of the business case and benefits of Procurisk® please call Ray Gambell on 01744 20698 or .