Risk is Everywhere in Business

The procurement process is prone to risks at every step, from determining need to developing specifications, preparing RFPs and evaluating and selecting suppliers, negotiating terms and implementing the purchase. No one wants to hitch their wagon to a financially unstable supplier or get blindsided by a shock to a vendor’s supply chain. How do you take steps to mitigate risk along the way?

Reduce Risk in Your Process

The best way to mitigate risk is with up front planning and preparation, so that you’re ready for everything that could be thrown your way. IBISWorld procurement research is the perfect tool to support you with in-depth supply chain risk analysis, information on regulations and price trends, supplier financial risk scoring and much more.

With a quick study of the relevant section of an IBISWorld report, you’ll be ready to ask the right questions to ensure you’ve assessed and mitigated the potential risk at every stage of the procurement process.

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More Info

Download a PDF summary that outlines how IBISWorld reports assist in each stage of the Procurement Process, from needs assessment and planning all the way to negotiation and integration.

Media Center

The IBISWorld Media Center is your go-to resource for timely and relevant procurement news. Dive deeper with topical analyst insights, infographics, top 10 lists and other information to help you identify opportunities and make smarter purchasing decisions. Also, check out our Client Q&As to find out how others in your industry are using IBISWorld procurement reports.

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