In this episode of Powering Procurement, hosts Sian Lloyd and Gareth Burch sit down with Chris McLellan, Group Head of Procurement at Admiral Group, Wales’ only FTSE 100 company. Together, they explore critical challenges in modern procurement risk management.
What You’ll Learn
- How to balance speed and due diligence through effective supplier segmentation and risk classification
- Why technology platforms are transforming supplier due diligence and risk monitoring
- The strategic approach to managing cybersecurity risks through supplier assessment and data protection
- How to develop effective contingency plans for critical suppliers using business continuity planning
- How procurement teams can leverage data and technology to anticipate and mitigate global supply chain disruptions
With over 25 years of experience spanning both public and private sectors, Chris has led significant procurement initiatives across organizations, including Cardiff Council and Atebion Solutions. His expertise in supplier governance, contract strategy, and procurement resilience has been particularly valuable in navigating today's complex risk landscape.
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Episode Highlights:
- 13:46 - Leveraging Technology to Streamline Risk Assessment
Procurement can't navigate today's complex landscape with outdated maps. Chris highlights the importance of using advanced technology as procurement's GPS, guiding teams swiftly through risk assessments. From AI-driven due diligence platforms to real-time supplier risk analytics, these digital tools help teams stay agile, reduce administrative burden, and shift the focus from reactive troubleshooting to proactive risk management.
- 18:04 - Cybersecurity Resilience in Procurement
Cybersecurity isn't a luxury anymore; it's procurement's oxygen mask in turbulent times. Chris outlines Admiral's rigorous approach to supplier cybersecurity, highlighting proactive assessments, supplier transparency, and shared accountability. Just as airline pilots meticulously check their aircraft systems before takeoff, procurement teams must carefully vet suppliers' cyber defenses.
- 25:30 - Managing Geopolitical Risks and Supply Chain Uncertainty
Geopolitical events are storms on the horizon. Teams must remain vigilant, continually monitoring global developments and adjusting their sourcing strategies accordingly. Chris recommends dual sourcing, strategic partnerships, and sophisticated data analytics to weather these challenges. Just as expert sailors constantly adjust their sails to shifting winds, procurement must pivot rapidly and strategically to maintain stability, ensuring the organization stays on course despite global uncertainty.
Episode Resources:
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