Procurement Risk and Procurement Risk Management (Risk Management & Risk Management in Procurement)

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This video discusses Procurement Risk and Procurement Risk Management. It explains Risk Management in Procurement and the Management of Procurement Risks. In this video, you will understand the meaning of procurement, types of procurement, the key differences between procurement and purchasing, procurement process, procurement risk, the need to manage risks in the procurement process, sources of procurement risk, common procurement risks, mitigating procurement risks, procurement risk management, the importance of procurement risk management, procurement risk management process, minimising procurement process risks, procurement compliance, benefits of procurement compliance, critical elements of procurement compliance, types of procurement compliance, challenges of procurement compliance, procurement compliance metrics, best practices for ensuring procurement compliance, procurement management software, what procurement software do, benefits of procurement software, and types of procurement software.

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00:00 – Introduction
01:51 - Procurement
05:27 - Types of procurement
11:45 - Key differences between procurement and purchasing
14:59 - Procurement process
17:39 - Procurement risk
19:59 - The need to manage risks in the procurement process
24:00 - Sources of procurement risk
30:16 - Common procurement risks
48:53 - The role of risk management in a procurement process
55:06 - Mitigating procurement risks
1:00:49 - Procurement risk management
1:03:05 - Importance of procurement risk management
1:04:26 - Procurement risk management process
1:09:49 - Minimising procurement process risks
1:11:09 - Procurement compliance
1:12:02 - Benefits of procurement compliance
1:12:54 - Critical elements of procurement compliance
1:15:42 - Types of procurement compliance
1:20:31 - Challenges of procurement compliance
1:25:15 - Procurement compliance metrics
1:29:56 - Best practices for ensuring procurement compliance
1:35:02 - Procurement management software
1:36:33 - What does procurement software do?
1:38:07 - Benefits of procurement software
1:40:03 - Types of procurement software
1:46:50 - Conclusion



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