Does the procurement industry need more risk-takers?

Supply Management magazine has suggested that UK businesses might benefit from encouraging their procurement professionals to take more risks.

The CIPS-run magazine published an article titled "Time for procurement professionals to take some risks".

The piece puts forward the argument that trying out new practices and establishing new partnerships could ultimately improve the procurement processes of many organisations, despite the inherent riskiness of this approach.

Is taking risks now necessary or can businesses play it safe and still succeed?

The article quotes Guy Allen, Fujitsu's former vice president of procurement, who appears to challenge the better-safe-than-sorry outlook. He says: "A good procurement person should not be frightened of risk because often they’re looking to change the way things are done, whether that’s a new supplier or changing the way things are bought or a new specification."

Businesses that already have a healthy procurement arrangement might see no reason to adopt a maverick approach, but those struggling may have to consider a total refresh of their system.

At the very least, all heads of procurement should take a look at their departments and their current processes, and evaluate whether or not they work as efficiently and effectively as they should.

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