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WhiteBoard to Dashboard: Steps to implementing compliant and risk-free procurement processes

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In this presentation, Procurement Insights' Jon Hansen and a panel of industry experts examine the challenges of implementing a risk management and compliance initiative, and how procurement professionals can collaboratively develop a sound and proactive go-to strategy for their organization.

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WhiteBoard to Dashboard: Steps to implementing compliant and risk-free procurement processes

  1. 1. Whiteboard to Dashboard Steps to implementing compliant and risk-free procurement processes Access an on-demand Webinar on this topic here: https://zyc.us/2r73Dsz
  2. 2. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay REGISTER NOW USE CODE WEBINAR100
  3. 3. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Presenters Jon Hansen Editor & Lead Writer Procurement Insights Sally Hughes CEO IACCM
  4. 4. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Jon Hansen  As the Editor and lead writer for the Procurement Insights Blog, Jon Hansen has written nearly 3,000 articles and papers; as well as five books on subjects as diverse as supply chain practice, public sector policy, emerging business trends and social media  In addition to being a much sought after speaker and moderator internationally, Jon is also the host of the highly acclaimed PI Window on The World Show on Blog Talk Radio, which has aired more than 800 episodes  A two-time Ottawa Finalist for the Ernst & Young Entrepreneur of the Year Award, out of a group of 15,000, Blog Talk Radio named Jon Hansen as one of their top 300 hosts
  5. 5. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Sally Hughes  Sally was recently appointed as Chief Executive Officer for the IACCM, supporting the IACCM global team in pursuit of both the recognition of and excellence in Commercial and Contract Management  Sally is an experienced and accomplished commercial and contracts management professional, holding senior commercial positions at a range of corporate and multi-national organizations. After gaining an Honors degree in Law, Sally spent her time in house in the corporate sector, where she worked globally in the Telecomm and IT industries, before establishing her own legal and commercial consultancy in 2007  Sally is passionate about enabling business efficiency and growth through contracting and commercial excellence; she understands the need for robust business operations to drive these efficiencies, together with the requirement for effective communication and collaboration at all times  Whether in contract development, negotiation, training or general communications, Sally has built a reputation for service excellence and responsiveness. Her focus is on the creation of positive and successful business relationships, constantly striving to ensure that businesses realize their true potential and value
  6. 6. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay # for TweetChat… #SCRisk18
  7. 7. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Agenda  Who Owns Risk?  Risk And Reward  A Strategy For Success
  8. 8. WHO OWNS (YOUR) RISK? Access an on-demand Webinar on this topic here: https://zyc.us/2r73Dsz
  9. 9. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Who Owns (YOUR) Risk?
  10. 10. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 1 Who is responsible for managing risk in your organization?  Legal  Finance  Procurement  Not Sure
  11. 11. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay True or False? “Firms with international supply chains confront a complex web of sanctions and export controls imposed by the US and the European Union (EU), among others. To avoid getting caught in this web, it is essential that companies develop and implement a compliance programme tailored to the special risks associated with their supply chain and operations.” Financier Worldwide article, April 2017
  12. 12. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay It’s True Because… “Firms with international supply chains confront a complex web of sanctions and export controls imposed by the US and the European Union (EU), among others. To avoid getting caught in this web, it is essential that companies develop and implement a compliance programme tailored to the special risks associated with their supply chain and operations.” Financier Worldwide article, April 2017
  13. 13. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay It’s False Because… “The worst-case scenario for identifying risks for a large enterprise is having the few individuals tasked with risk management, internal audit, or compliance duties perform this process without input from the business.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  14. 14. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay It’s False Because… “While some suggested that the consequence of non-risk management fell on the shoulders of their organization's legal department, many believe that procurement is the organizational body that will assume the blame.” Horizon 2017 Panel: The Evolution of Supplier Risk Assessment and Mitigation – PI Window On The World (November 2017)
  15. 15. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay It’s False Because… “The worst-case scenario for identifying risks for a large enterprise is having the few individuals tasked with risk management, internal audit, or compliance duties perform this process without input from the business.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  16. 16. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay It’s False Because… “. . . create a comprehensive list of risks for the entire organization… It is most effective and accurate when personnel from different units and with various levels of supervisory responsibility are involved.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  17. 17. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Shared Destiny “The July 20, 2007 Wall Street Journal published an article titled, “A Key Strategy of Japan’s Car Makers Backfires,” which begins: For want of a piston ring costing $1.50, nearly 70 percent of Japan’s auto production has been temporarily paralyzed this week. Blame it on kanban, the just-in time philosophy of keeping as little inventory on hand as possible.” For Want of a Nail: The Pandemic Effect – Procurement Insights (May 2009)
  18. 18. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Get the (Complete) Picture
  19. 19. RISK AND REWARD Access an on-demand Webinar on this topic here: https://zyc.us/2r73Dsz
  20. 20. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 2 I have a thorough or detailed understanding of the risks my organization currently faces relative to achieving its goals.  True  False  Uncertain
  21. 21. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Reward “Understanding an organization’s mission and objectives is critical to having an effective risk management program.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  22. 22. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay … And The Risks “These not only tell you what the organization wants to accomplish, but also why it is willing to take risks to do so. These serve as the backdrop and provide context for an enterprise to assess and manage risk.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  23. 23. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Risk is Inevitable “Companies must take risks to generate value… it is impossible to eliminate risk entirely.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  24. 24. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay But… “It is often said that the greater the risk, the greater the reward. This statement is false. Continually taking excessive risks will almost certainly lead to huge losses.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  25. 25. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay … It Has to be Managed “Organizational risk management is the discipline employed to help an organization to operate at a risk level that allows it to maximize its value creation.” Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  26. 26. A STRATEGY FOR SUCCESS Access an on-demand Webinar on this topic here: https://zyc.us/2r73Dsz
  27. 27. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Poll Number 3 I have a total or complete understanding of my organization’s risk management strategy.  True  False  Uncertain
  28. 28. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Strategy For Success “In the fields of observation, chance only favours the mind which is prepared.” Louis Pasteur - December 7, 1854
  29. 29. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Tale of Two “Nearly a decade ago, lighting struck a Philips microchip plant in New Mexico, causing a fire that contaminated millions of mobile phone chips. Among Philips’ biggest customers were Nokia and Ericsson, the mobile phone manufacturers, but each reacted differently to the disaster.” Managing Supply Chain Risk: The Nokia and Ericsson Case Study – Procurement Insights (May 18th, 2011)
  30. 30. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Tale of Two “Nokia’s supply-chain management strategy allowed it to switch suppliers quickly; it even re-engineered some of its phones to accept both American and Japanese chips, which meant its production line was relatively unaffected.” Managing Supply Chain Risk: The Nokia and Ericsson Case Study – Procurement Insights (May 18th, 2011)
  31. 31. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Tale of Two “Ericsson, however, accepted Philips’ word that production at the plant would be back on track in a week and it took no action.” Managing Supply Chain Risk: The Nokia and Ericsson Case Study – Procurement Insights (May 18th, 2011)
  32. 32. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Tale of Two “That decision cost Ericsson more than US $400 m in annual earnings and, perhaps more significantly, the company lost market share. By contrast, Nokia’s profits rose by 42% that year.” Managing Supply Chain Risk: The Nokia and Ericsson Case Study – Procurement Insights (May 18th, 2011)
  33. 33. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay A Plan of Action The following are five types of actions one can take to address a risk:  Accept – by accepting a risk, an organization decides to take no action and to deal with the consequences if/when it occurs  Avoid – choosing to avoid a risk is when an entity forgoes certain activities that would potentially cause the risk  Mitigate Risk – an organization mitigates a risk by adding controls activities that reduce or eliminate the risk  Transfer – a company transfers risk by insuring for the potential impact of a risk or by outsourcing the activities related to the risk to another organization  Exploit – an organization exploits a risk when the impact is positive by performing activities that increase the likelihood of its occurrence Can You Assess & Manage Your Organizational Risk? – Isaac Clarke (July 19, 2017)
  34. 34. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Clear Sailing!
  35. 35. Q A& Access an on-demand Webinar on this topic here: https://zyc.us/2r73Dsz
  36. 36. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay # for TweetChat… #SCRisk18
  37. 37. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay Speaker Contact Info  Procurement Insights Blog: https://procureinsights.wordpress.com/  Twitter: @piblogger1  LinkedIn: https://ca.linkedin.com/in/jwhansen  News Story Hotline: 819-230-2131 ___________________________________________________________________________________________________________  Website: www.iaccm.com  Blog/Journal: http://journal.iaccm.com/contracting-excellence-journal  Twitter: @sally_iaccm  LinkedIn: https://www.linkedin.com/in/sallyfhughes/
  38. 38. Source to Pay Suite: Spend Analysis | eSourcing | Contract Management | Supplier Management | Savings Management | Project Management | Request Management | Procure-to-Pay CEH Credits  Attendees of today’s event will receive an email thanking you for attending. In this email is the link to your CEH certificate and the archive of today’s presentation  Continuing Education Hour certificate. CEHs are awarded to attendees who participated for at least 50 minutes of the seminar. You will receive an email within the next 24 hours containing your CEH Certificate
  39. 39. Need more insights? An On-Demand Webinar on the topic "Whiteboard to Dashboard: Steps to implementing compliant and risk-free procurement processes" can be accessed here: https://zyc.us/2r73Dsz Follow us on social media for more updates! Twitter | LinkedIn | Google+ | Xing
  40. 40. +1 866 563 9219 info@zycus.com www.zycus.com Thank You

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