Procurement Risk Management

Managing the Procurement Risk at Syensqo

Risk Procurement process aims to preserve Syensqo interests based on 4 pillars.

Managing the Supply/Service Risk Discrepancies at Syensqo

The ultimate goal of supply risk management is to ensure there will never be a shutdown or a slow down at a plant due to a supply issue. 

To do so, you need to have a systematic approach based on 4 steps.

Our Procurement team ambition for 2024

Our ambition is to build a robust Procurement Risk Management Process across all Procurement BSA teams. It will help us to act as ONE TEAM and to build a RISK CULTURE. To support this ambition, we will collaborate together on:

• Building standard documentation for risk identification, risk impact assessment and mitigation action plans,
• Build a central repository available to all the Procurement BSA,
• Set up a governance 
• Be proactive within the risk identification (it includes to conduct some assessments based on scenarios)
• Intensify the cooperation with the Syensqo Group Risks team
• Use a real time risk monitoring tool: What is the current tool available? Click here to learn more.

Date last updated: 23/02/2024