Understand the Risk Big Picture – How Is 2019 Shaping Up?

Our final webinar of 2018, and my final webinar as MD of Spend Matters UK/Europe, is on Thursday December 13th at 2pm (UK time).  It’s titled “Understand the Risk Big Picture”.

It is being run in conjunction with riskmethods – the firm provides a cloud-based supply chain risk management platform / solution, and founder Heiko Schwarz will be participating in the webinar with me. We’ll refer to the five short briefing papers we published last year on different types of risk – and throw in the sixth, which will be out soon, and looks at cyber-risk; a very hot topic!  The previous five covered issues such as reputational risk, natural disasters and supplier financial risks.

This session is really an overview of supply chain risk management, and we’ll look forward somewhat as well to where the big issues might lie for 2019. OK, it is by definition had to work out where the “unknown unknowns” might lie, but it is not so difficult to do a bit of forward thinking and highlight where some attention might be needed.

“Brexit” is on everyone’s mind of course, but the long-term effects of the current tension between Ukraine and Russia, or the trade war focused on the USA and China could be even more serious. Indeed, the global economy is at a point where even the broad direction for next year is quite hard to predict. Bringing that down to the level that matters for us as buyers, will we see more corporate failures amongst our supply base in 2019, or fewer? And will lack of trust in company accounts (see Patisserie Valerie / Conviviality) start impacting on how we carry out risk assessments on suppliers?

My SIPP (personal pension fund, invested in shares) has taken quite a knock over the last six months – but now I’m getting lots of emails saying, “the time is right to invest, all the bad news is priced into the market”. So it may only take one piece of good news (perhaps on those trade issues) for things to look much brighter again on the economic front in 2019.

On the other hand, who would have thought even a couple of weeks ago that firms would be looking nervously at Paris and the events there and wondering what that might do to various supply chains with a French element? And the tension in eastern Europe as Russia tests the resolve of NATO might dissipate or end up with 2019 being a really bad year for everyone. Meanwhile, we suspect most firms have not really got to grips with thinking about climate change and what it might do in terms of supply chain issues and much more.

Now we know we can’t solve problems in one webinar or give you a magic solution to your major risk issues but do join us next week as we look at what procurement can do to improve risk planning and management. Please register here for the webinar – and even if you can’t make that time, registering will mean you get immediate access after the event to listen at your leisure.

As usual, we will talk for no more than 30 minutes and then make sure we have a good 15 minutes for questions and discussion. So, if you have any burning questions around supply chain risk – or insightful comments – we’d love you to join us on the 13th.

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