What Every Procurement Professional Should Know About Supplier and Supply Chain Risk IBM Global Procurement Louis Ferretti Product Environmental Compliance & Supplier Chain Social Responsibility www.sig.org/eval What Every Procurement Professional Should Know About Supplier and Supply Chain Risk photo of the "Ital Florid by NASIM4248 photo of the "Ital Florid by NASIM4248 Louis Ferretti, IBM Global Procurement Project Executive, Product Environmental Compliance & Supplier Chain Social Responsibility
[email protected] October 27-29, 2015 Abstract Businesses today are ever more depend on their supply chain partners for goods and services which make up a significant portion of the solutions they provide to their clients. Correspondingly globalization has introduced the opportunity to do business with suppliers the world over, allowing greater access to a host of untold products and services - that can provide a competitive advantage to the OEM, which enables them delivering increased value to their clients. Nevertheless, a global sourcing strategy has introduced a set of risks well beyond what was typical in the traditional suppler chain. The question is how does a company engage in global sourcing and yet gain the benefits while weighing and managing risks. Beyond assessing the risk of a supplier and their supply, there are opportunities to collaborate and assess a supplier's level of resiliency, and where appropriate engage in actions of remediation. 3 Business Continuity Planning & Supply Chain Risk – An Overview Managing Risk is an imperative for Business Continuity Planning RISK is one of the SIX mega-trends impacting IBM Chief Supply Chain Officer Study Identified The enterprises around the world Top Five Challenges Major factors affecting the enterprise today Risks, both operational and financial, is the #2 1.