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Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Work to achieve 100% supplychain visibility.
From this discussion, we compiled a list of 8 critical supplychainmanagement activities that to improve, build, and maintain supplychain resilience now and in the years to come. But building an agile, resilient supplychain doesn’t happen overnight; it requires forethought and planning.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychainmanagement activities that can help Procurement teams build and maintain supplychain resilience now and in the years to come.
A Fortune 500 CPG company partnered with GEP to improve end-to-end categorymanagement, optimize direct spend categories, and increase strategic focus on tail spend. This is essential reading for all procurement and supplychain leaders. The result was a year-over-year savings of more than 3%.
CategoryManagementCategorymanagement sorts your spending into areas with the same supplier markets. In the midst of the pandemic, those companies that had the right strategic procurement processes and technologies in place were able to lower the risks and stay proactive, agile, and profitable. . +
Among these strategies, the role of supplychain capability stands out as a key factor in driving success. A well-optimized supplychain not only ensures efficient delivery and cost-effectiveness but also provides companies with a competitive advantage in the market.
Subscribe to SupplyChain Game Changer. A “Don’t Touch” Strategy will Dramatically Lean out your SupplyChain! I started thinking about the Costco SupplyChain. What is it that makes Costco’s SupplyChain so effective? Subscribe Here! Email Address. Low SKU Count.
In a world that feels like it is constantly teetering on the edge of chaos or permacrisis, procurement professionals must master uncertainty by building resilience and agility. And one way to do that is to rethink where organizations source from. Forestreet empowers such a capability with instant intelligence from ad-hoc scouting requests.
Key elements include total cost of ownership (TCO) analysis, supplier relationship management, and categorymanagement. Companies that excel in strategic sourcing achieve greater cost savings and procurement efficiency while ensuring supplychain resilience.
Sebastian Chua started his procurement journey with Hewlett Packard/Agilent Technologies as their country manager for Singapore, India, Thailand, and the Philippines before he took on the job as the regional procurement manager. . 10 Popular Procurement Experts Today. Sebastian Chua. Trillion budget. . Rajeev Karmacharya.
In recent years, there has been a significant shift in the supplychain industry as more and more women are choosing careers in this traditionally male-dominated field. This rise of women in the supplychain is not only breaking gender barriers but also bringing a fresh perspective and new ideas to the table.
It can also help drive sustainability initiatives in your supplychain and procurement process. . The Closed Loop Spend Management. Innovation – These are new ways for businesses to become agile and resilient through digital accelerators, automation, variable cost structures, and talent acquisition for the future. .
Stepping out of the shadow of the past few years, procurement leaders are having to rapidly master the art of supply continuity as organizations undergo major changes that demand more agility, innovation, and collaboration to survive. . Map Your Sub-tier SupplyChain. Build a Solid Data Foundation.
By selecting and developing the right suppliers and establishing streamlined, transparent communication with them, manufacturers gain the agility and resilience to respond to customer demands, rise to the top, and navigate disruptions more easily. That makes agility a foundational part of your manufacturing strategy.
Efficient communication, the ability to securely share information and project manage efforts are all key to scaling collaboration across more processes, suppliers & categories. Ensuring SupplyChainAgility. Agility is needed not just to avoid disruptions. These can impact the brand and hence revenue.
I recently hosted a webinar in which our star speaker was Lora Cecere, Founder at SupplyChain Insight. Supplychainmanagement typically does not fit very well with procurement, which is a challenge at the best of times, and can be a disaster in difficult times. As late as the 1990s, supplychains were very local.
Outside the technology field, we have also seen “science” come to the fore in terms of codifying processes such as CategoryManagement. There may be different models in use, but there is a pretty well-accepted logical methodology behind how organisations approach their management of major spend areas.
These programs are as familiar to procurement professionals as concepts like spend analysis or categorymanagement. This piece was a Harvard Business Review article in August 2020 that resonated with me and helped to reframe supplier diversity in terms of supplychain resilience. Building Business Cases and Momentum.
CategoryManagement is the concept of the Retail industry that helps for better management as well as sales of a similar category of product by bundling the same. It results in specialization in category for a buyer and ends up in a better deal with saving time, resources, and money.
The total costs, in terms of human lives, disrupted supplychains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. There are, however, already some clear lessons to be learned by Procurement and SupplyChain leaders.
Increasing inflationary cost pressures, more supplychain disruptions, and the imperative for more transparency to satisfy Corporate Social Resposibilty (CSR) directives, or recent legislation in countries like Germany and Norway. CategoryManagers will be freed up to spend more time on execution rather than data gathering.
It is a process that creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. This helps businesses to recognize supplier risks and create plans to prevent supplychain interruptions.
We’re a centralised indirects procurement team with categorymanagement being introduced where it can in order to support the parts of the business where we need subject specialism. We are having to become much more agile in our approach because suppliers are less willing to hold their pricing.
His name is Ian and he is the VP of SupplyChain at a mid-sized retailer (with vast prior experience at a large retailer). In retail, the process of coming up with a forecast is typically a “joint effort” between the CategoryManager and the SupplyChain Planner. Ludwig Erhard (1897-1977). Think about it.
Its two dimensions suggest the flat Earth approach with insufficient room to cater to the complexities of modern categorymanagement and strategic sourcing situations. Category strategy will elaborate on logistical and supplymanagement aspects, i.e., inventory planning and supplychain configuration.
Effective supplychainmanagement is essential for success in the dynamism and connectivity of modern companies. To accomplish this, you require the skills of supplychain experts who can manage the complexity and difficulties of today’s global supplychains. With a Ph.D.
JAGGAER characterizes the steps in this process as Spend Management, CategoryManagement, Sourcing , and Contracts. Secondly come eProcurement, SupplyChain Collaboration, Invoicing, and Payments. Digitalization also fosters greater agility in supplier management.
2024 will be the year of change management, where enhanced training and upskilling programs will ensure that seasoned procurement experts stay agile in this digitally driven age.
I am sure you are comfortable being flexible and agile when buying something different, or sourcing from an alternative more sustainable supplier. The good news is there is already a well-proven approach that can help – categorymanagement.
I studied procurement and obtained a Master’s degree in supplychain and international procurement. Since I graduated, I’ve always worked in procurement and supplychain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects.
I studied procurement and obtained a Master’s degree in supplychain and international procurement. Since I graduated, I’ve always worked in procurement and supplychain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, categorymanagement, supply relationship management and risk management.
Among them were supplychain disruptions , inflation, and supply scarcity and shortages. Companies Will Scale Their Procurement Knowledge Base and Enablement Programs To Attract and Retain A New Profile of CategoryManagement Talent. The SupplyChain Will Continue to Heal.
We spend about a billion pounds each year through our supplychain of approximately 500 suppliers. I have a team of 30 people with end-to-end categorymanagement responsibility. Procurement and supplier management are carried out by separate teams under my leadership.
2021 saw a massive amount of challenge for procurement teams; supplychainmanagement challenges, political changes, trade barriers, COVID related staff shortages in all areas, blocked ports and working from home have thrown it all up into the air. At its heart lie a few easy to apply concepts.
Introduction In the dynamic world of business, the ability to effectively manage and optimize supplychains has emerged as a critical success factor. At the heart of this revolution lies a powerful tool that many companies are now leveraging to achieve competitive advantage: Managed Procurement Services.
So while this year’s report places a lot of emphasis on operating model set-up and talent management, we wish to highlight the ‘Digitization’ section because Procurement has a clear imperative to build agility and resilience into supplychains. Categorymanagement is the core engine for scaling processes.
The process of strategic sourcing starts with spends analysis and categorymanagement, which identifies, consolidates and standardises information from a wide range of data sources. Categorymanagement has been the only credible procurement strategy since the late 1990s, and that may be about to change.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical CategoryManager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
Simon Lipscomb, Sales and Marketing Director at Efficio, speaks to Emma Osborn, CategoryManagement Director at Network Rail and Sheena Russel, HR Manager at Efficio on diversity issues around procurement, supplychain and corporate more generally.
What makes FIFO (First-In, First-Out) such a vital strategy for inventory management in Purchasing and Procurement? In the fast-paced and ever-changing world of supplychains, FIFO stands out as a simple yet transformative approach. Logistics & SupplyChain : Enhances throughput in distribution centers.
The Essential Guide to Source to Pay, Source to Contract, and Procure to Pay Whether youre new to the world of procurement and supplychainmanagement, or a seasoned veteran; whether you work in a major manufacturing industry, a university, or a medium-sized clinical research organization, you may find procurement jargon rather confusing.
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