New report claims procurement risk management 'under-developed'

Despite its importance, procurement risk management is "surprisingly under-developed", a Research and Markets report entitled A short guide to procurement risk warns. It points to recent global risk surveys that have pinpointed supply chain vulnerability as one of the four key global risks for the next decade. What is less well known, the study adds, is that this is only half of the story and risk exposures also exist inside the company and can be just as damaging.

"No company is an island; it needs suppliers as well as customers. Conventional wisdom puts great emphasis on managing certain aspects of business such as customers; operations; strategy and finances," the report claims. "Typically, however, much less regard is paid to external suppliers and the risks present in dealing with them.

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