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Here’s a detailed guide to enhance procurement capabilities across various domains: Strategic Sourcing and Supplier Management Actionable Steps: Analyze Spend Data: Use spend analysis tools to identify areas where costs can be reduced or efficiencies improved. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g.,
In doing so, I referenced a piece of thought leadership from over 15 years ago. This week, Im going even further back in history to the early 1980s and the publication in the Harvard Business Review of Peter Kraljics seminal article, Purchasing must become supply management.
Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.
As part of our theme this quarter on Procurement’s role and value in supplychain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways. And we must remember that one cannot escape supplychain risks.
The global supplychain landscape is undergoing significant transformations, influenced by rapid technological advancements, shifting consumer expectations, and the intricacies of international commerce. Conversely, a student who quickly grasps procurement strategies can be challenged with advanced case studies and leadership projects.
In an age where supplychains stretch across continents and rely on increasingly complex data streams, the ability to present data clearly and effectively is no longer a luxury—it’s a strategic necessity. Here’s how better presentation of supplychain data can directly impact decision-making: 1.
Platform-enabled capabilities like workflow automation, supplier segmentation, and performance tracking are essential for scale and resilience. These areas form the operational backbone of procurement and must be integrated within a unified platform to ensure consistency, compliance, and agility.
In an age where supplychains face persistent disruptionsfrom pandemics and trade wars to cyberattacks and climate volatilityresilience is no longer optional. This shift has pushed supplychainleadership to pivot from reactive management to proactive strategy built on data.
While flashy consumer-facing products like social apps garner much attention, innovation in less glamorous areas like supplychain management is equally responsible for propelling startups to unicorn status. Leveraging emerging technologies gives startups supplychain advantages that legacy players cannot match.
Platform-enabled capabilities like workflow automation, supplier segmentation, and performance tracking are essential for scale and resilience. These areas form the operational backbone of procurement and must be integrated within a unified platform to ensure consistency, compliance, and agility.
In a landscape shaped by inflation, supplychain fragility, regulatory pressure and digital transformation, orchestration is more than a buzzword. Externally, risk and compliance obligations mount, supplychains are stretched and stakeholder expectations broaden. It becomes a catalyst for transformation.
Manufacturing and industrials: Strengthening the supplychain backbone In the manufacturing world, procurement is about much more than just tracking spend its the heartbeat of supplychain management. Supply network modeling, now integrating large language models (LLMs), allows for precise tracking and material tracing.
Unfortunately, an extemporal supply base was a byproduct of the transactions, leaving the acquiring company with a highly suspicious, deeply segmented group of suppliers. The suppliers weren’t buying the “increased opportunity” mantra, so the transition process was incredibly challenging.
Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. Reductions in operational overhead and improved supplier engagement. Improved agility to support organizational growth and changes. What is Total Economic Impact?
When you look behind the scenes of a global business operation, procurement strategy and supplychain management are usually top priorities, though theyre not always working in sync. This blog explores procurement vs supplychain strategy and looks at how aligning the two leads to operational excellence.
Hansen’s early concepts—especially his 1998 frameworks involving agent-based modeling , the Metaprise , time-zone polling , and advanced self-learning algorithms —share fundamental DNA with the adaptive, decentralized, and data-rich supplychain models later refined and scaled by Jeff Bezos at Amazon. suppliers, UPS) agents.
Supplychain is the unseen backbone that keeps operations running smoothly. Dollar Tree, known for its affordable products, has recently made a strategic move by appointing a seasoned executive to lead its supplychain division.
While Hansen’s models are not yet mainstream, they are critical for organizations targeting 25–35% higher ROI through agility and human-AI collaboration. The future likely involves hybrid adoption, blending Hansen’s process-centric agility with Gartner’s structural rigor. ORO Labs’ Supplier 360).
Skip to main content Dont miss tomorrows supplychain industry news Let SupplyChain Dives free newsletter keep you informed, straight from your inbox. times higher than operational emissions, according to data from the U.S.
4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms. Organizations are leaning into automation, analytics, and collaborative supplier technologies to drive performance across the entire procurement lifecycle.
Critical Perspective : Leadership stability drives innovation, but SAP Aribas corporate structure may limit agility compared to smaller firms like Tealbook or ORO Labs. Lalitha Rajagopalan s 20+ years at SAP Ariba and leadership in ORO Labs AI workflows align her with ProcureTech Solution Development, complementing Bhojwanis role.
A lot of that will depend on how leadership reacts to the seismic shifts we are currently seeing in technology. Or, maybe youre suffering from Cinderella complex: not bold enough to demand an upgrade to the outdated, clunky, legacy Source-to-Pay suite interfaces that suppliers and stakeholders havent really adopted.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved? Tactical Versus Strategic Sourcing.
For procurement, this concept translates into creating an intuitive, AI-driven interface where stakeholders internal teams, suppliers and external partners can access resources, insights and tools efficiently. The CPOs perspective For CPOs, adopting a digital front door isnt just about technology; its about leadership.
Report Link : The interview discusses “empowering procurement to be proactive and agile,” mirroring the agent-based architecture where multiple agents interact dynamically. Report Link : His interview discusses interoperability and shared supplier insight across business units, which maps directly to strand commonality principles.
is a leading AI-powered platform specializing in third-party risk management, compliance, and supplier lifecycle automation. Third-Party Engagement: Suppliers and partners can auto-complete questionnaires, upload documents, and supplement responses with live data from the Internet, streamlining due diligence and ongoing monitoring.
Arkestro Chief Strategy Officer and Founder Edmund Zagorin led a discussion sharing how Arkestro’s predictive procurement platform helps streamline complex supplychains and has enabled companies to reduce costs and cycle times while significantly boosting productivity.
Bold leadership for agentic AI innovation, enhanced customer outcomes and accelerated growth RESEARCH TRIANGLE PARK, NC – JAGGAER, a global leader in Source-to-Pay and supplier collaboration, today announced the appointment of Andrew Roszko as the new Chief Executive Officer of JAGGAER.
Hansen, adds a distinct type of value to the traditional analyst ecosystem by providing practitioner-first insights, provocative thought leadership, and early recognition of disruptive trends. – Challenges rigid quadrants with more agile, narrative-driven insights. supplier relationship management).
spend analysis, supplier negotiation), while humans provide oversight, strategic judgment, and ethical governance. Ecosystem-Wide Coordination: The framework connects ERPs, suppliers, logistics, and finance into a unified workflow, allowing AI and humans to collaborate seamlessly across organizational boundaries for collective optimization.
Estée Lauder’s early adoption of agent-based models and strand commonality for global supplychainagility is not fully reflected in their innovation ranking. automating customer service before predictive supplychains) to avoid deployment failures. user behavior + supplychain) for early risk detection.
The investment will accelerate Arkestros ongoing innovation in AI-powered procurement technology, advancing its mission to help enterprises unlock hidden savings, reduce supplychain risk, and drive operational efficiencyempowering procurement teams to focus on strategic, high-impact initiatives. cost savings on every $1M of spend.
Traditionally, procurement teams relied heavily on face-to-face interactions to build relationships, negotiate deals, and manage suppliers. Remote work has made procurement teams more agile and flexible. The absence of face-to-face meetings has made it difficult to build trust with our suppliers and stakeholders.
It fills critical gaps in depth, agility, and contextual insight that most traditional analysts and association models overlook. In procurement, this might translate to better supplier negotiations or sourcing strategies, especially for tariffs. Tariff Mitigation and Risk Management: Hansens insights on supplychain risk (e.g.,
Dangerous SupplyChain Myths (Part 7) Are you chasing solutions or solving problems? 4C Associates: Known for supplychain and procurement consulting, 4C focuses on digital transformation and analytics. Their supplychain expertise (e.g.,
For example, Nipendos cloud-based automation enables Amex to handle supplier onboarding, invoice reconciliation, and payments nativelyareas where Ramp excels (e.g., Strategic Fit: Amex aimed to build an end-to-end B2B platform (Anna Marrs, Amex), enhancing its supplier-side offerings beyond card issuance. PO syncing, bill pay).
A smart factory is characterized by adaptability, resource efficiency, optimized ergonomics and the integration of customers, suppliers and business partners in business and value processes. Some of its concepts and technologies, such as computer-integrated manufacturing (CIM) and lean production predate the term.
This agreement was reached after a rigorous evaluation and fast implementation process, delivering tens of millions of material dollar value, driving a measurable impact on earnings per sharethrough hard savings and transformational improvement in performance and operational agility across multiple priority commodity types.
As supplychains and procurement grow increasingly complex in the face of global challenges, the Executive Advisory Board serves to ensure Arkestro remains strategically positioned and innovative in an evolving market. . I look forward to collaborating with the rest of the leadership team to support Arkestro’s continued success.”
Companies leveraging this approach gain 612 months lead time to mitigate disruptions, optimize supplychains, and capitalize on emerging opportunities. Novartis (Pharmaceuticals) Industry: Global pharmaceutical company, reliant on R&D, global supplychains. Digital supplychain tools (e.g.,
The core issue isn’t simply cost; its accuracy and agility. For leadership teams navigating an uncertain economy, this is the time to bring discipline and automation to core operational data. In the face of geopolitical and macroeconomic headwinds, the companies that adopt it now will be better positioned to operate lean and resilient.
View Press Release Wellener brings over 35 years of leadership experience spanning global manufacturing, consulting, and board governance. In 2019, he received both the Carnegie Mellon Alumni Service Award and the National MS Society’sNorman Cohn HopeAward for outstanding volunteer leadership. Learn more at www.arkestro.com.
Women in leadership are making a powerful impact on the supplychain industry. With fresh perspectives and a collaborative mindset, women in supplychain are modernizing how supplychains operate. The biggest shifts we’re seeing are centered around agility and innovation.
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