Responsible buying practices in supply risk management

Supply management is responsible for the management of a firm's supply network and risks arising from the supply base. Thus, defined principles and practices related to responsibility of purchasing are highly critical. The aim of this paper is to discuss the role of responsible buying practices in supply risk management. This is examined by utilising quantitative survey data collected in Finland. The results show that responsible buying practices correlate positively with supply risk management. However, there are differences in terms of risk type. The empirical data showed that the more attention paid to corporate social responsibility (CSR), third-party and delivery risks, the higher the usage of responsible buying practices. Furthermore, it was found that country risk does not correlate with CSR risk and third-party risk, and risks vary according to the industry and nature of business.