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
Procurement and supplychain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
This leap in AI capabilities is revolutionizing industries, and AI-driven supplychain management is no exception. The Role of Agentic AI in SupplyChainsSupplychains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting.
We’ve seen AI take over everyday tools and search engines; AI in Sourcing and Procurement is becoming a strategic tool in our kit, At Ivalua, we are helping global procurement teams integrate AI across the Source-to-Pay process, bringing automation, insight, and agility to every step. Supplier risk adds even more complexity.
20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management. CFOs began to see procurement as critical to business continuity and organizational agility.
The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supplychains. For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses.
Secondly come eProcurement, SupplyChain Collaboration, Invoicing, and Payments. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. But digital transformation also has longer-term benefits for supplier collaboration.
These may include processes related to: Supplier evaluation Supplier onboarding Performance tracking, Supplier risk management Contract analysis By automating repetitive tasks and analyzing large datasets, AI improves efficiency, reduces errors, and enhances decision-making. What is the use of AI in supplychain management?
It helps procurement teams make informed decisions by offering insights into areas such as spend patterns, supplier performance, contract compliance, pricing trends, and sourcing risks. Common KPIs include cost savings, supplier lead times, contract compliance rates, cycle times, and supplier risk scores.
Having a solid risk management plan allows companies to anticipate problems before they escalate, ensuring that supplychains remain efficient and reliable. By monitoring suppliers regularly, businesses can detect issues early and respond proactively. This process is known as supplier risk management.
Get a straightforward look at how ERPs evolved from manufacturing roots to todays AI-powered platformsand what that means for your sourcing, supplychain, and source-to-pay processes. is Transforming Industry Smart factories, real-time data, AI-powered systemsManufacturing 4.0 is here, and its changing everything.
Are you interested in understanding how businesses effectively manage their supplychains? Look no further – this guide is here to help you grasp the fundamentals of supplychain management (SCM) and how it can lead to success. It encompasses activities such as procurement, supplier selection, and evaluation.
Similar to how CRM manages everything around the customer, an S2P platform manages everything around the supplier. S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. Supplier on-boarding time: S2P can significantly reduce the time it takes to on-board new suppliers.
These negotiations take place in realtime, with all prospective suppliers at once. This saves buyers not only money, but hours of conversation time. This involves suppliers competing in sequential bidding. This back and forth is very time-consuming. This not only saves time and human resources.
From data-driven decision making to real-time spend visibility, predictive analytics, supplier collaboration, intelligent automation, and data security, we will explore each trend in depth, shedding light on their significance and potential impact on businesses.
Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Procurement is strategically important because it: Drives significant cost savings through economies of scale, suppliernegotiations, and process efficiencies. Purchasing measures transactional volume and costs.
To mitigate supplychain risks and improve business continuity by reducing dependence on many small suppliers. Working closely with fewer suppliers also enhances supplychain transparency and resilience. Quality - Review defect rates, customer complaints, and quality control processes for each supplier.
Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supplychain, and leveraging new technologies effectively. The result?
Procurement teams are often confronted with issues such as maintaining cost control and visibility over spending, managing relationships with a diverse range of suppliers, staying compliant with a myriad of regulations, mitigating risks in the supplychain, and leveraging new technologies effectively. The result?
Spend analysis involves the systematic examination of purchasing data to gain insights into spending patterns, supplier performance, and potential areas of improvement. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.
It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing. But, it’s far more than just buying.
Introduction Welcome to the dynamic world of procurement, where businesses are constantly seeking innovative ways to manage their supplychains more efficiently and effectively. The Growing Trend of Outsourcing Procurement In our fast-paced global economy, businesses are constantly on the hunt for ways to stay competitive and agile.
This is especially true for leaders and teams wanting to become much more agile and resilient in light of the challenges created following recent supplychain disruptions. These solutions also save money on sourcing , which is the process of identifying and assessing suppliers.
By effectively managing the purchasing process, companies can better control their expenditures and optimize their supplychain, ensuring the availability of the right products and services at the right time. Some of the key benefits include: 1.
What unique benefits can the following ProcureTech solution providers offer to address the above-referenced supplychain challenges: ThroughPut.ai, FlockScore, ProcurEngine. These insights are based on their general focus areas within the ProcureTech and supplychain optimization space. ThroughPut.ai ThroughPut.ai
Resources / Blog / The Predictive Procurement Payoff: Transitioning From Traditional to Predictive for Scalable Growth The Predictive Procurement Payoff: Transitioning From Traditional to Predictive for Scalable Growth For years, procurement teams have struggled with a fundamental challenge: too much spend and too little time.
1999 – I introduced the Metaprise model (RAM) 2007 – In Dangerous SupplyChain Myths (Part7) , I write about the Metaprise in greater detail, including the results of its implementation in a production environment (Department of National Defence). JAGGAER Industry-specific solutions leveraging AI for supplier collaboration.
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