Navigating Risks: Exploring the Perception of Risk Awareness on Strategic and Operational Procurement – A Descriptive Approach

Abstract

Strategic and operational procurement are important parts of the procurement landscape within large global enterprises. Strategic procurement is related to long-term strategies such as supplier selection and contract negotiation. Operational procurement is related to day-to-day purchasing operations of the procurement process, such as cost overruns, quality issues or delays. This study analyses the perceived risk awareness of global supply chain risks during a specific crisis context. For this quantitative research study, a comprehensive survey was conducted to explore the perception of strategic and operational procurement professionals over the categorized risks and establish potential gaps. The research concludes that to capture all the perceived risks, the synergetic approach combining strategic and operational procurement practices is beneficial for mitigating risks effectively.

Keywords

• global enterprises
• operational procurement
• risk categorization
• risk perception
• strategic procurement