This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Under the terms of the deal, the private equity firm TPG will take a majority stake in AvidXchange, while Corpay will invest $500 million for a 33% minority position, with the option to acquire the remainder in 2028.
9,800% 4,963% 4 (2028) $74 $0.75 Warning signs usually start showing by month 612: low adoption, poor supplier integration, missed KPIs, or costly workarounds. Here are the blended results: ROI Summary Across All Industries Year Savings ($M) Cost ($M) Annual ROI (%) Cumulative ROI (%) 1 (2025) $75 $3 2,400% 2,400% 2 (2026) $75 $0.75
How AP can improve relationships with your key suppliers. trillion by 2028. [3] 3] Real-Time Payments : Instant transactions are scaling quickly, with the EU projected to see a 10x increase in volume by 2028. [3] trillion by 2028. [3] trillion by 2028. [3] trillion by 2028.[3] billion in 2023 to $64.9
ProcureTech Solution Providers and Agentic AI Stances Agentic AI in procurement involves AI agents handling tasks like sourcing, contract management, and supplier coordination with minimal human oversight, often integrated into platforms like SAP or Coupa. supplier analysis, spend optimization), automating workflows like order approvals.
billion by the year 2028, with this highlighting a compound annual growth rate (CAGR) during the forecast period. Such data is only encouraging more suppliers into the market and making a wider range of equipment more widely available to a variety of markets. More specifically, the PPE sector is expected to peak at a value of $118.8
What my research tells me is that we must start seeing the concept of supplier resilience in an expanded scope that extends well beyond supply chain functionality. Longer Term (2028-2035): Disruption: Trade stabilizes 10-20% below 2023 levels ($2.5-$2.8 Longer Term (2028-2035): Disruption: Exports to U.S. Domestic capacity (e.g.,
That will be followed by tires in the same year, furniture in 2028, and mattresses in 2029. It’s talking to suppliers to understand what we already have, where are the gaps, and how we can fill them.” Under “intermediate” products, the first sectors to be impacted are iron and steel in 2026, and aluminum in 2027.
Longer Term (2028-2035): Disruption: Trade stabilizes 10-20% below 2023 levels ($2.5-$2.8 Longer Term (2028-2035): Disruption: Exports to U.S. Tariff plan have on supplier negotiations in both the short term and longer term? Tariff plan on supplier negotiations (between U.S. suppliers raised prices 10-20% (e.g.,
How AP can improve relationships with your key suppliers. The system is expected to handle $37 trillion by 2028 [3]. days in non-automated systems , strengthening cash flow and supplier relationships [6]. Beyond discounts, faster approvals improve supplier relationships and strengthen cash flow management. The result?
duties, while honing its sourcing mix, negotiating with retail partners and suppliers, and raising prices, Friend said. "We For example, Ralph Lauren is working closely with suppliers to shift production levels to countries with lower U.S. The sneaker giant has a four-pronged approach to fully mitigate tariffs over time.
As supplier deliveries slowed, there was improved performance clearing goods through ports of entry, the report said. Additionally, inventories improved to 49.2%, up 2.5 percentage points from the previous month following a cargo surge ahead of the expected return of the Trump administration’s country-specific reciprocal tariffs in July.
She noted that FedEx landed a spot on General Motors 2025 Supplier of the Year list for the 21st year in a row. The vertical features a dedicated leadership team and is "off to a strong start," Carere said. Sign up A valid email address is required. Please select at least one newsletter. By Edwin Lopez • Jan.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter 10 Best Food Packaging Suppliers In The US — Reviews, Quality, and Pricing The packaging industry in the US shows a positive outlook as the country expects $193.13 growth in 2023.
They will need to align their sourcing strategies with sustainability objectives and collaborate with suppliers to ensure adherence to environmental and social standards. CSRD requires Scope 3 reporting , depending on company size, with a gradual rollout between 2024 and 2028. supply chain)- or affect your business.
As suppliers increasingly look for ways to overcome operational challenges in their warehouses, some are beginning to leverage smart warehouse technology like automation and artificial intelligence to improve the productivity of their warehouse associates and enhance their processing efficiencies.
billion by 2028 at a CAGR of 7.6%. Ivalua/Hackett’s 2022 Procurement Insights and Key Issues report found that laggards are being held back by concerns including fear of failure, access to suppliers, legacy system costs, and teams lacking the skills to leverage digital transformation. billion (2020) to a projected $9.5
And thanks to our industry specialists, we are constantly researching and adding to our platform with new supplier categories to help you keep up with current market trends. billion by 2028, according to a 2022 report. This includes applications like food processing, steam, and engine monitoring.
And thanks to our industry specialists, we are constantly researching and adding to our platform with new supplier categories to help you keep up with current market trends. billion by 2028. Our platform has over 75,000 categories of products and services, from alloy to zinc, from which professionals like you can source.
And thanks to our industry specialists, we are constantly researching and adding to our platform with new supplier categories to help you keep up with current market trends. billion by 2028. Our platform has over 75,000 categories of products and services, from alloy to zinc, from which professionals like you can source.
The HVAC industry is already highly competitive and is predicted to grow 13% through 2028. To meet this demand, suppliers and distributors need to prepare months in advance – even years in advance, in the case of units and devices to meet future regulations. But increased competition isn’t the only obstacle that HVAC distributors face.
JAGGAER Invoicing allows Accounts Payable teams to receive and process supplier invoices, and therefore this article will focus on the impacts to Accounts Payable processes. Accounts Payable teams in enterprises which operate in Germany should be aware of the regulations around receiving, processing, and archiving German electronic invoices.
billion by 2028. Sustainability, social responsibility, and supplier diversity According to the 2023 State of Supplier Diversity Report by Supplier.io, “Supplier diversity and the broader business are more connected than ever before.” That means less errors, rework, or duplicated efforts.
And thanks to our industry specialists, we are constantly researching and adding to our platform with new supplier categories to help you keep up with current market trends. billion by 2028. Our platform has over 75,000 categories of products and services, from alloy to zinc, for professionals like you to source from.
by 2028, and reduce the supply of workers for key industries , including by up to 225,000 workers in agriculture, and 1.5 born workers their jobs , raise costs for nearly all Americans, and risk igniting inflation.” million workers in construction. Read More: Does U.S. Agriculture Need Immigrant Labor?
Spreadsheets: High error rates lead to inaccurate supplier data (e.g., ProcureTech: Failures delay automation, forcing reliance on error-prone spreadsheets, hindering tariff-driven supplier diversification and ESG compliance. pricing errors under 145% Chinese tariffs), causing overpayments and missed savings.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content