<p>The changing dynamics of the supply chains are resulting in various quality, safety and financial challenges and risks for the Agri-food companies. The traditional form of risk management is not able to handle these industry-specific difficulties, hence there is a need to redefine the assessment methods to be more customized, methodical and industry specific. The present paper presents a multifaceted approach to identify and classify the common range of purchasing risks in the agri-food industry. The first step in this direction is the identification of the risks followed by a thorough risk analysis to identify the major hazards and further rank these most important ones using a risk prioritization index (RPI) in the next step. Then, following the identification of major risks, the methodology proceeds to the essential phase of development of the solutions. Wherein based on the interactions of the decision makers, innovative solutions are proposed to effectively mitigate the identified risks. Finally, the methodology concludes in the solution and strategy selection process, where an integrated approach of Analytic Hierarchy Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) methods is employed based on the identified solutions. The supplier selections based on the solutions are linked to the effectiveness of identified risks mitigation solutions, ensuring that the overall objective of reducing the purchasing risks is achieved in the agri-food sector. The adoption of this framework will enable agri-food companies to enhance supply chain resilience and stakeholder confidence in the face of ongoing challenges. </p>