Managing Risks in Global Procurement Networks 

Global procurement networks have become increasingly complex due to globalization, digitalization, geopolitical risks, and the increasing number of international procurement suppliers. Today, organizations in various industries have become heavily reliant on global procurement networks, which involve complex interdependencies between various countries, their regulatory environments, and logistics infrastructures. Even though the global procurement strategy helps organizations achieve numerous benefits, including cost optimization, diversification of procurement suppliers, and the acquisition of specialized skills, organizations have also become exposed to numerous risks, including supply risks, geopolitical risks, financial risks, regulatory risks, and cyber risks.

The main goal of the proposed research is to investigate the risk management practices in global procurement networks, including the development of an innovative data-driven approach for the identification, evaluation, and mitigation of procurement risks. An applied research methodology with mixed approaches is used to combine the results of the quantitative analysis of supplier risk indicators with the insights of supply chain risk management theories and procurement practitioners. In the proposed research, the evaluation of the predictive analysis, artificial intelligence, and digital procurement platforms is also conducted.

The results of the proposed research revealed that organizations that have incorporated an integrated procurement risk management approach have achieved better supply chain resilience.

Research paper coming soon