Risk Management
Understanding Risk Management in Procurement
Procurement — the process of acquiring goods and services from external suppliers — plays a vital role in keeping organizations running smoothly. However, it often involves a range of uncertainties and challenges. These may include supplier delays, unexpected price changes, regulatory issues, or disruptions in the supply chain due to natural disasters or political unrest. […]
Merging Quality and Risk Management in Supplier Selection
What is Merging Quality and Risk Management in Supplier Selection? Merging quality and risk management in supplier selection means choosing suppliers based on both the quality of their products and the risks they might bring, like financial problems or delays. This approach ensures that businesses get good products while also protecting against supply chain disruptions. […]