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Research on Procurement Risk Management in Polymer Materials Companies

Author(s)

Qiuyan Song

Affiliation(s)

Business School, Shandong University of Technology, Zibo, Shandong, China

Abstract

This study focuses on polymer materials companies and identifies three major categories of risks in their procurement processes. The first category comprises data and information security risks, including external cyberattacks and improper internal employee operations, which may lead to the leakage of commercial secrets such as procurement plans, supplier lists, and specialty resin supply channels. The second category involves supplier management risks. Some suppliers lack adequate technical capabilities and standardized data management. Compounding this issue, firms tend to over‑rely on digital platforms while neglecting on‑site audits, resulting in order matching errors, increased reconciliation costs, and greater difficulty in ensuring self‑sufficiency and control over key raw materials. The third category concerns personnel and organizational risks. Digital transformation introduces unclear role definitions, cross‑functional communication breakdowns, and a shortage of employees’ digital skills, which in turn create misalignment between system development and business needs, extend project timelines, and raise costs. To address these risks, this study proposes the following management strategies: strengthening data security protection, implementing end‑to‑end supplier management, and optimizing personnel and organizational management. Our findings indicate that polymer materials companies must simultaneously enhance technical safeguards, improve management systems, and invest in employee training to effectively mitigate procurement risks and enhance supply chain stability. Future efforts should also focus on emerging requirements such as green supply chains and industrial chain security, steering procurement risk management toward proactive prevention.

Keywords

Polymer Materials Companies; Procurement Risk Management; Data and Information Security; Supplier Management; Digital Transformation

References

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