ISM is putting on its 2nd Annual Risk Management Conference next week in Chicago. The event is taking place next Thursday and Friday, July 25-26. I’m speaking at the conference on Friday, tackling the topic of “what’s next” for risk management practices. During my talk, I’ll be sure to weave in some of the more advanced approaches we’re seeing today when it comes to risk management. These approaches include the following:
- Taking advantage – or at least not being taken advantage – of commodity volatility today through more scientific approaches to forecasting and diverse forms of hedging
- Developing multi-tier visibility into risk factors lurking under the tier-one surface
- Piggybacking on other initiatives and budgets (e.g., Conflict Minerals) to build integrated systems that link supplier management and risk activities with extended supply chain visibility
- Understanding the latest in technology and how to take advantage of it
- Investing in the space that exists between organizations – not just your own systems
- Linking services procurement initiatives and risk in the human supply chain to broader supply chain risk management initiatives
- Developing a topological understanding of risk in the financial and credit supply chain and working with other areas of the business (e.g., treasury) to act on it
- Identifying the next global hot spots and harnessing social approaches to understanding the shifting political and world landscape
Attending and speaking at the show is a homecoming of sorts for me. I was one of the founding members of the ISM risk working group but have not stayed as involved as I would have liked in recent years. I’m excited to get closer to this growing part of ISM again, and the group has been kind enough to offer Spend Matters readers a $100 discount to the conference. Enter “Spend” during the registration process when requested on the online registration site.
See you in Chicago!