The Supply Risk Category

Creating a Successful Third-Party Risk Management Strategy: What You Need to Know

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It’s almost 2018 and time to think about updating — or creating — your risk management program for next year. Financial health ratings firm RapidRatings recently held a webinar on the most important factors to consider as you plan your risk strategy. Presented by Brian Sica, director of sales operations at RapidRatings, “Developing a Third-Party Risk Management Strategy for 2018” takes a broad approach to the topic, starting with alignment to business objectives before progressing to the actual planning and execution of the program.

Commodity Price Risk Management: For the Many, Not the Few

Spend Matters welcomes this guest post from Tom Lawrence, director at Flow&Ebb. 

Commodity markets affect us all. Wild swings in commodity prices affect how much we pay for groceries, how much we pay for aluminum cans for our organic soda, how much we pay for electricity. Yet traditionally only large businesses had the budgets to pay for, and enough clout to embed, commodity price risk management into their supply management strategy.

What are Companies’ Biggest Risk Misconceptions? A Conversation with Coupa Economist Ahmad Sadeddin (Part 2)

As a senior economist and risk expert at Coupa, Ahmad Sadeddin is in a good position to see what companies do well and not so well in terms of risk management. Unfortunately, companies are being put to the test more frequently these days, as risks become more numerous and unpredictable. In this second half of our pre-webinar interview with Sadeddin, the risk expert discusses common risk-related misconceptions, challenges that Coupa’s clients have faced and one recent risk success story that impressed him.

Successes, Failures, Worries: Coupa Economist Ahmad Sadeddin on All Things Risk Related (Part 1)

Are companies paying more attention to risk as they become more sophisticated, or are risks so numerous nowadays that risk management has become a bigger priority? If news headlines are any indication, we are all in need of a few contingency plans. And if you — as a business or as an individual — don’t even know where to start, well, you’re not alone. From hurricanes and earthquakes to Brexit and the upcoming General Data Protection Regulation (GDPR), what is one supposed to look at first?

Dr. Edward Altman and CreditRiskMonitor CEO Jerry Flum on the Looming Corporate Debt Crisis

Debt is a growing problem, both in the U.S. specifically and worldwide. As the Congressional Budget Office announced earlier this year, U.S. debt held by the public is projected to reach 150% of GDP by 2047. Currently, the $19.9 trillion of U.S. public debt equates to about 107% of GDP, according to the Pew Research Center. In short, there’s a mammoth debt problem, which was the title of a webinar that CreditRiskMonitor recently hosted on this very topic.

The Damage to Oranges, Lumber and Cotton Caused by the Hurricanes

Spend Matters welcomes this guest post from Jara Zicha and Verity Michie, market analysts at Mintec.

At the end of August, the Atlantic regions suffered devastating effects from Hurricane Irma that lasted for two weeks. It hit islands in the Caribbean and parts of the southern U.S. states, including Florida. But how did this affect commodity prices?

Risk Expert Gary Lynch on Harvey, Irma and Supply Chain Risk and Resilience (Part 1)

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Hurricanes Harvey and Irma have come and gone, leaving devastation in their wake and — what’s that? More hurricanes on the way? At the time of writing, tropical storm Jose is expected to become a hurricane and make its way towards the northeastern U.S. Instead of looking at Irma specifically like we did for Harvey, we decided to take a broader look at supply chain risk. To that end, we talked to Gary Lynch, who, according to our chief research officer Pierre Mitchell, is “the best supply risk guru in the world.”

How Well Are Your Peers Doing in Supply Chain CSR? EcoVadis Releases New Report

If you’re a small or medium-sized construction company, congratulations. Chances are you’re doing pretty well in your supply chain corporate social responsibility (CSR) initiatives. Likewise if you’re a large company in the financial, legal, consulting and advertising markets. On Tuesday, EcoVadis released its first annual Global CSR Risk and Performance Index, which evaluated 20,400 companies according to 21 criteria related to the environment, labor practices and human rights, fair business ethics and sustainable procurement.

Assessing the Near- and Long-Term Supply Chain Effects from Hurricane Harvey

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Procurement professionals have their work cut out for them as rains from Hurricane Harvey finally recede. While the personal and human costs of the disaster are only beginning to be tallied, supply chain and logistics pictures appear even murkier. Here are the top supply chain areas Harvey has disrupted, as well as the near- and long-term consequences procurement organizations will face responding to the storm.

Post-Hurricane Harvey, 3 Supply Chain Risk Mitigation Strategies to Keep in Mind

It’s a simple yet excruciating irony that in a natural disaster that dumps more than 50 inches of rain on a single region, water becomes widely unavailable for consumption — for either people to drink or factories to function — even as it floods scores of neighborhoods. So it’s no surprise that water, and the havoc it continues to wreak in Houston and other areas, is central to the issue of supply chain risk management in the wake of Hurricane Harvey. Spend Matters has been covering the hurricane (see related stories below), which had been downgraded to a tropical storm soon after, and the disaster spurred a recent webinar presented by Resilinc, a supply chain resiliency solutions provider.

Hurricane Harvey Q&A: What Procurement Practitioners Should Be Doing Right Now

In this disastrous aftermath of Hurricane Harvey, emerging details about supply chain repercussions both locally and nationally have finally begun to paint a fuller picture. With Houston and its greater regional area comprising such a significant industrial hub, trucking, freight and petrochemical supply have all been frozen to varying degrees. But perhaps the biggest hit is the massive uncertainty over the full extent of the medium and long-term impact. We caught up with riskmethods' Bill DeMartino, general manager of North American operations, and Heiko Schwarz, the firm's founder and managing director, for a quick Q&A about what procurement professionals have been — and what they should be — thinking about in the wake of the disaster's fallout.

Hurricane Harvey Disrupts Supply Chains: Resources for Procurement

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Hurricane Harvey, now a tropical storm, continues to make headlines as it slowly moved from southeast Texas into southwest Louisiana. The New York Times reports that the storm has dumped a record 51.88 inches of rain on Cedar Bayou, Texas, and that the state’s flood-related death toll has reached 31. In addition to the non-quantifiable losses to the affected residents, the storm is estimated to carry an economic cost of tens of billions of dollars.