Third-party risk is becoming a first-priority challenge. (685 × 424 px) (1)

The way companies conduct business is changing.

  •  Threats from third parties are growing.
  •  Legislation is tightening regulations all over the world.
  •  Geo-political issues are effecting energy markets.

Learn how to navigate the ever changing world of procurement. From world affairs to regulatory legislation, David writes monthly briefing reports on the Scanmarket blog. Subscribe today to receive notifications of new content, and be prepared for the new normal.

MicrosoftTeams-image (30)-1-1David Loseby is the former CPO of Rolls Royce and principal architect behind the behavioral science led approach to the adoption of a new digital platform. He has over 30 years of experience driving value through procurement, organizational transformation, and change management. His background spans a variety of roles with significant global experience and responsibilities in both private and public sectors. The author of Soft Skills for Hard Business, David is a highly recognized and trusted thought leader in the procurement industry.

World Affairs-1
 

Not a day goes by without more news about the ongoing conflict in the Ukraine, the ramifications of which will be felt across supply chains for months if not years to come. The impact will be direct and indirect relating to commodities and energy.  Russia and Ukraine account for 29% of all the world's wheat exports, and Germany relies on Russian gas to power its electricity and energy grid by around 50%. The pursuit of billionaires in the Navalny 35 continues with the French seizing €850 million in a single day. Coordinated sanctions by many world governments are changing the dynamics of supply chains globally. 

Legal-Regulatory-1

The diversity, breadth and depth of legislation pertaining to environmental, social and governance (ESG) is growing and placing greater obligations on entities to report more comprehensively.  The German Federal Council has enacted a new piece of legislation to focus on child labor, slavery, safety in the workplace, employment and wage discrimination, and environmental harm. Effective on January 1, 2023, German companies with more than 3,000 employees will be required to prevent or at least minimize human rights and environmental rights infringements in their supply chains. 

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In collaboration with David Loseby, Scanmarket is producing a series of briefing notes on our blog about the quickly evolving third-party risk management (TPRM) landscape from a procurement and supply chain perspective. Stay tuned into Scanmarket's blog and social media channels for more to come on these issues, plus: 

  • The amendments to the Modern Day Slavery Act (MDSA) effective June 2021

  • The Companies Act (2006, 2013,2021 revisions)

  • Environment Act 2021

  • Commentary on the consultations and updates to Public Procurement Regulations.

 

 

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