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Modern Procurement programs

Risk Management (8 hours)

  • Topics

Risk has become an active part of every procurement function and a vital skill set to support the safe and reliable delivery of products and services to the organization. We need to stop rigid cost driven monoculture, where cost savings drive all decisions.

This program will cover risk types including Financial, Cyber, Operational, Geographic, Reputational and Regulatory. The need for awareness and prevention as well as skills to generate remediation, reporting and governance. The strategy to create a priority driven risk management program which will include the use of third party risk management, suppliers, strong contract governance and robust sourcing.

The largest day to day risk for a company is inferior quality. The best remediation is a strong procurement function. It is imperative that the procurement team collaborates with internal teams such as Risk, Audit, Finance and Engineering, and external teams including suppliers and category experts to develop a proactive risk mitigation solution.

The department needs to have an expert lead this effort and create a framework for the team to follow. This includes risk modelling, predictive versus reactive activity, and understanding of sustainability and being anti-fragile. This can include the full restructuring of the supply chain – a major undertaking for any organization.

Upon successful completion, candidates earn 8 Modern Procurement hours to apply towards Practitioner or Advanced Practitioner certification. Candidates also earn a Certificate of Completion.

The program is delivered in 2 x 4 hour instructor led training sessions, delivered virtually. Sessions are designed to be highly interactive, with the objective to augment understanding, as well as impact behaviors.

As members, candidates also have access to the WorldCC Content Hub for research and on-the-job guidance.

  • Third party risk management
  • Risk modeling
  • Predictive versus reactive
  • Sustainability
  • Anti-fragility
  • Innovative, rapid response supply chains
  • Agility
  • Uncertainty management
  • Risk versus opportunity
Participants earn 8 Continuing Professional Development points.

If you would like to learn more about this program and how it can support you or your team, please get in touch.

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This program is part of our Modern Procurement Programs and Certifications, a training for procurement professionals to meet the challenges of a rapidly evolving supply ecosystem.

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Risk Management program
(8 hours)
US$ per person