three year purchase plan
Strategic Planning
Stakeholder Engagement
Risk Assessment
- Conduct brainstorming sessions with stakeholders.
- Review historical data on past procurement issues.
- Consult industry reports and expert opinions.
- Identify risks related to suppliers, market conditions, and logistics.
- Use a risk matrix to evaluate each risk.
- Rate the impact on a scale from low to high.
- Rate the likelihood of occurrence from unlikely to very likely.
- Document the rationale for each assessment.
- Prioritize risks based on their impact and likelihood.
- Identify specific actions to reduce each risk.
- Assign responsibilities for implementing strategies.
- Set timelines and resources needed for each strategy.
- Outline the process for ongoing risk evaluation.
- Define key performance indicators (KPIs) for monitoring.
- Schedule regular reviews of the risk management plan.
- Ensure communication channels are established for reporting new risks.
Use in Manifestly