Art of Procurement’s recent podcast, From C-Suite Priority to Procurement Strategy: Managing Risk at Scale, was packed with answers to audience questions, based on a previous AoP Live session.
According to 2022 research conducted by Economist Impact and commissioned by SAP, risk reduction was identified as a top priority for corporate leadership, making it a prime topic for discussion.
In fact, 38% of C-suite executives view it as a way to deliver increased value through procurement, which begs the question: what about the rest? Do they recognise the role procurement plays in risk management?
The research reveals that supplier risk mitigation, operating model changes and due diligence in support of ESG regulations are primary concerns for many organisations.
Procurement leaders have to engage strategically if they hope to identify a range of risks and manage them at scale.
To discuss the results of the 2022 research paper, Philip Ideson and Kelly Barner were joined by Gordon Donovan – Global Market Research Director, Procurement & External Workforce at SAP and Matthew Montgomery – Solution Management Director, Supplier Lifecycle & Third Party Risk Management at SAP.
In this podcast, they answer how:
● C-suite executives view procurement’s role in managing risk
● Why procurement talent and skills shortages may be part of the risk management
challenge
● How companies are leveraging supplier management technologies to address these
challenges
The PASA Connect bi-monthly CPO roundtable today heard the results of the 2023 annual SAP/The Economist global impact survey of 500 C-level executives.
The top seven insights were shared by Gordon Donovan, and then discussed by a group of CPOs, centred around technology in procurement and internal/external relationships.
Learn more: listen to this insightful episode of the Art of Procurement podcast.
