RISK MANAGEMENT
Leader , Procurement Advisory , The Hackett Group .
Using advanced data analytics and cognitive technologies – such as artificial intelligence ( AI ) and machine learning ( ML ) – to analyse data from suppliers , market trends , regulatory requirements , and internal processes , this approach identifies and mitigates potential risks in procurement .
“ Cognitive data-driven risk management helps businesses identify and assess risks that are developing in our supply chains , as well as make more informed decisions to mitigate these risks . It ’ s used for the most critical supply chains , such as semiconductors , textiles , and automotive ,” explains Walden .
“Modern supply chains are extremely complex beasts with many moving parts ”
NICOLAS WALDEN ASSOCIATE PRINCIPAL AND UK & EUROPE PRACTICE LEADER , PROCUREMENT ADVISORY , THE HACKETT GROUP procurementmag . com 49