A recent "Out Front Ideas with Kimberly and Mark" webinar discussed how risk management and procurement teams work together to achieve the overall goals of their entities, and how vendors seeking contracts can best differentiate themselves from their competition. (Photo: Blue Planet Studio/Adobe Stock)
Most public entities and many private companies have switched to a procurement model for all contracts and purchasing. This model means a centralized department is responsible for all these decisions, ranging from office furniture and supplies to purchasing insurance and risk management services. Risk managers and service providers are often challenged to demonstrate the value of such services beyond simply price, and pricing alone is not the best comparative measure of such services.
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