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In your organization (or one with which you are familiar), when does risk management take place...

In your organization (or one with which you are familiar), when does risk management take place in procurement management processes? How effective is this approach? What improvements would you implement?

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Answer #1

During procuremenr management , organisations generally do risk management only after they identify or face the risk. They do not think about procurements during risk analysis and hence will have to face the risk when it really occurs. Then they start searching for ways to solve it. This will have a huge impact on the supply chain activities as the process gets disturbed and hence the products cannot be dispatched on time. This can be avoided if risk analysis is done even for procurements and steps are taken to identify and be prepared for the risks that might be faced through procurement management.

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