They can assess whether critical categories depend on too few suppliers. They can determine which suppliers have financial weakness despite historical good performance.
Embedding risk into decision-making workflows Traditionally, risk management existed as a parallel function separate from procurement operations. Procurement teams sourced suppliers whilst risk teams conducted separate assessments. This organisational silos meant risk considerations often arrived too late in decision-making processes to materially influence supplier selection or contract design.
Digital procurement transforms this structure by embedding risk directly into operational workflows.
Rather than risk being a separate portal accessed periodically, alerts and playbooks become integrated into everyday decision-making from supplier award through purchase order release, shipment and payment.
This workflow integration fundamentally changes how risk influences strategy. Risk considerations are not an afterthought or compliance checkbox; they are central to how procurement operates continuously.
Strategic resilience and continuous evolution At Best Buy, procurement’ s evolving approach to risk and resilience reflects this broader transformation. Anna Barej, Vice President of Procurement at Best Buy, describes how the function has repositioned itself:
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