ISM2017 Risk Management: Balancing Change and Innovation Highlight Reel
What you missed if you couldn't make it to ISM’s 2017 Risk Management: Balancing Change and Innovation conference. Here are some of the fantastic insights from the workshop.
The Wednesday conference kicked off in the always exciting heart of New York City,with “Risky Business – How to avoid business disruption with real-time and insights.” Presented by thought leader Greg Iaquinto of Dun & Bradstreet, Iaquinto highlighted the importance of evaluating hidden risk among suppliers via technology and data utilization. Through these mechanisms, businesses can circumvent business disruption, shield their image, and create relationships of mutual trust with suppliers.
Following Iaquinto’s presentation, along with a networking break, Kim Berney-Brooke of Bloomberg LP took to the stage next, discussing how Bloomberg’s Vendor Risk Framework identifies and analyzes vendor engagement risks. Berney-Brooke then went on to demonstrate how to conduct vendor oversight via internal monitoring tools essential for a high-risk environment.
After Berney-Brooke, then, came James V. Kelley from JVKelly Group, Inc. Kelly examined the necessity of monitoring the business market to ascertain the best outcomes for one’s business. Kelly furthered these assertions, then, with the presentation of a case study, illustrating possible decisions a business may take before realizing the best optimal outcome.
As Kelly delivered the closing remarks for his keynote, the conference paused for an hour-long lunch. With everyone refueled by early afternoon, the conference continued with two more presentations, beginning with Corporate Service Strategic Sourcing’s Vice President, James E. Martin.
According to Martin’s category management presentation, risk cannot be surmised from merely viewing each category holistically; instead, category management requires one to also break down each risk for each category, since each category has its own unique facets which require assessment.
Lastly, after a final intermediate networking break, Karla Robertson from Shifting Gears shared her own experiences from dealing with risk. In particular, Robertson emphasized the need for thought leaders to adapt to ongoing complexities of the business world, and explored this topic through focusing on the brain’s processes of punishing and rewarding certain behaviors.
With Robertson’s articulation drawing to an end, and the closing remarks addressed, this concludes another successful year attending ISM’s Risk Management workshop.