Risk Management

There is high risk of severe penalties for the construction firms implicated in the Competition Commission’s government contract price-fixing investigation. The Commission says 21 firms have applied for leniency, but that another 25 have been implicated in collusive price-fixing for large government contracts. The scale of the fraud highlights, once again, the desperate need for

Converging trends will make supply relationships even riskier in 2020 than they are today. Project participants expect to see big increases in companies’ awareness around supply risk and also an expansion in their perceptions of where risks lurk.  This is the consensus among Procurement Executives who responded to an Ariba survey on Procurement in 2020.

With the recent suspension of the CFO of the SABC due to possible procurement irregularities and the allegations of falsifying credentials within the broadcaster, a strong warning goes out to many large corporate companies who are not taking seriously the vetting of personal information, Rudi Kruger, General Manager of LexisNexis Risk Management, told SmartProcurement.

RESEARCH UPDATE   Do you understand the procurement risks of not vetting your employees and vendors properly? Here are a few figures to put it all in perspective, in this month’s SmartProcurement. Since inception in March 2012 LexisNexis ProcureCheck has vetted more than 6 000 vendors for its clients. Of the 6 000 vendors, it