Our webinar on October 9th is going to tackle a dilemma faced by many procurement executives and functions.
To put it in context, we’ve probably come to a point where pretty much every sentient senior procurement person understands how important supplier and supply chain risk is – to us as professionals, to our organisations, even to the wider economy and society.
Yet if you ask the same professionals whether they are happy with the status of risk management in their organisation, and whether enough and the right investment has been made, we would bet that a majority would say “no”. So, there is a bit of an issue there, we’d suggest.
One reason for that may be that the business case for supply chain risk management investment needs to be made convincingly and robustly to justify investment. There is a fundamental difficulty there, we’ve realised. Investments in sales and marketing, or new products, or acquisitions, are based on doing something that leads to very directly consequential sales or profit improvement.
On the other hand, investment in risk management is principally about stopping things from happening. While we can all accept and understand that bad things affecting our organisation is – well, bad news – but getting investment to address this is not as simple a business case as “launch this new chocolate bar and get £10 million a year of new sales”.
That’s why we are about to publish a briefing paper on this topic and we are pleased to announce a webinar on October 9th at 2pm UK time (3pm CET, 9am in New York etc). Both paper and webinar are presented in conjunction with riskmethods, solution providers with an absolute focus on supply chain risk management through their platform, which helps clients manage risk and provides alerts when risk events crystallise.
So, in the webinar, Heiko Schwarz, founder and Managing Director of riskmethods and I will talk about the template for what an effective business case should look like – what should be covered, how it should flow. We’ll answer questions like how you can blend hard facts and information with the “stories” that can make the case more powerful. And find out why is it not enough to just highlight problems – what is the essential additional step that helps you make the “sell?” (Because that is what you are doing in a business case, you are selling the idea that the investment should be made).
We’ll make sure we also have plenty of time on the 9th for questions and discussion too, so hope you can join us then. You can register now, free of charge of course, via this link – and if you are at all interested but can’t make it on the day, please register anyway, then you will get a link to listen later.