Why do cars have brakes? The simple answer - To slow down or to stop. From a risk management perspective though, the question could be answered somewhat differently. Imagine driving the fastest car in the world without brakes. The car would never be driven faster than a bicycle. Because its plain simple risky. Suicidal too. It would be fair to say that how fast a car can actually drive is among other factors also a function of how good its brakes are. So if it was a risk management professional answering the question, the likely answer would be - cars have brakes so they can drive faster. In the business commerce context, supplier risk management are the braking system of the supply chain. They provide organizations the safety cushion to accelerate their growth by anticipating risks in the supply chain.
It's said the flap of the butterfly on one end of the world can cause a tornado in another because things are that interconnected to each other. Supplier risk follows that path. Time and again we have witnessed how untoward incidents within the supplier ecosystem have had far reaching impact on their customers. Organizations today have a lot more at stake in understanding their supplier risks than just assessing operational readiness. Without the right visibility on supplier risk, businesses are unknowingly exposing themselves not just to operational failures, but also to negative brand impact, consumer rights breaches, litigation and so on. As Gary Cohn of Goldman Sachs puts it –“If you don’t invest in risk management, it doesn’t matter what business you’re in, it’s a risky business.” With regulatory and compliance directives, increasing consumer awareness and corporate social responsibilities at stake, supplier risk management not an option, it’s an imperative.
At SAP Ariba Livehttp://www.aribalive.com/2016/madridin Madrid, Spain, we showcase the potential that a true supplier risk management solution holds for your business. For example, gaining predictive and real-time insights on potential risk incidents. Or the capability of managing supplier risk using not just external indicators but also presenting it in the context of your relationship with the supplier. Or the ability to manage risk across the full spectrum of your supplier base and not limiting it to a select few. Or integrating your supplier risk information with specialized content on sustainability, compliance, slavery, financials etc. The list goes on. Key sessions to watch out on the topic are:
1. Plenary Session on Supplier Risk
2. Supply Chain with a Conscience
3. Deep Dive into Innovations in Supplier Risk Insights
4. SAP Ariba Solutions for Supplier Management Innovation and Vision
And that’s not all. SAP Ariba Live also brings to you a host of other innovations that are aimed at digitizing your supply chain and making procurement simple - Direct Material Sourcing, Guided Buying, Open API’s to name a few. So join us from June 13th to 15th at the Madrid Marriott Auditorium Hotel & Conference Center and engage with best procurement minds in the industry, interact with solutions experts from SAP Ariba, enjoy a great line up of dynamic and inspiring speakers.
And talking about cars, here’s Mark Gallagher, a veteran from the world of Formula 1 racing talking about the Business of Winning at Ariba LIVE in 2015 in Munich, Germany.