Risk, opportunities and external suppliers

Answer:
One ISO definition indicates that risk is the “effect of uncertainty on an expected result. So, what are the expected results of your organization concerning its purchasing process?

What desired results an organization wants from its purchasing process? For example: raw materials at a good price; delivered on time and with quality.

Risks/opportunities are what can contribute to not getting/ or meeting those expected results. For example:

A rise in demand of raw materials can increase prices;
The closing of an important competitor can reduce demand and prices;
Raw materials shortage due to insufficient inventory control;
Raw materials shortage due to deterioration while on warehouse;
Raw materials shortage due to delivery delay;
Raw materials shortage due wrong reference delivered;
Raw materials delivered with insufficient amount;
Raw materials delivered with defects;
…
The following materials will provide you more information about risks and opportunities:

- Article - How to address risks and opportunities in ISO 9001 - https://advisera.com/9001academy/blog/2016/06/21/how-to-address-risks-and-opportunities-in-iso-9001/
- Free webinar – How to implement risk management in ISO 9001:2015 - https://advisera.com/9001academy/webinar/how-to-implement-risk-management-in-iso-90012015-free-webinar-on-demand//
- book - DISCOVER ISO 9001:2015 THROUGH PRACTICAL EXAMPLES - https://advisera.com/books/discover-iso-9001-2015-through-practical-examples/