Risk management is one of the critical prerequisites for the successful category and supplier management. Timely risk identification and mitigation have proven to be crucial for successful strategic planning.
- Cirtuo Risk management includes:
- Risk identification, risk assessment, and risk mitigation, compliant with ISO 31000:2018
- List of most commonly found risks for categories and suppliers in procurement, customizable to client’s needs
- Risk matrix based on probability of occurrence and risk impact
- Historical tracking of risk identification and assessment
- Execution of a risk mitigation plan through strategies and initiatives
- Cirtuo Risk management has proven to be a good tool for tracking all procurement-related risks, reporting on them, and complying with internal and external auditors’ requests.
Cirtuo Risk management has proven to be a good tool for tracking all procurement-related risks, reporting on them, and complying with internal and external auditors’ requests.