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
Competitors or new market entrants can use it to attack you these days – you don’t need a chain of retail shops on the high street, just a good idea, a great website and an outsourced logistics operation. So the need for businesses to act with speed and agility has never been greater.
There are certainly companies that are already leveraging how they spend to transform the world, or planning to do so. Ikea is a leader with plans to ensure a sustainable supplychain. Digitization of Procurement and supplychain is an area that is ripe for incrementalism. Stay Flexible .
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Digitalization also fosters greater agility in suppliermanagement.
In recent years, however, many teams have managed to successfully shake off this long-outdated reputation. Procurement professionals are now celebrated for their innovation, creativity, agility, and cost-saving initiatives. Reducing suppliers also helps mitigate risk throughout the supplychain. Related Posts.
Generate Greater and More Sustainable Value Across Your S2P Process Download the Ivalua Source-to-Pay (S2P) Datasheet Vishal Patel VP Product Marketing Vishal has spent the last 15 years in various roles within the Procurement and SupplyChain technology market.
With new legislation being introduced for 2023 in Europe, such as the SupplyChain Due Diligence Act (SCCDA), CPOs and other procurement and sourcing leaders need to devise an agile procurement strategy to ensure compliance. Investment in technology is crucial and requires even more during the time of an economic downturn. “
Most leaders seem to track their progress with metrics such as percent of spendmanaged and digitization levels, defining best-in-class as being the top quartile or similar high percentage. This is where helping organizations innovate, ensuring business agility and even growing revenue comes into play.
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.
Now we have entered a period of relative stability, spendmanagement and cost reduction has moved back to the top spot, and ensuring supply continuity has moved from first down to second. These have changed over recent years as new challenges have emerged. Coping with inflationary price increases remains at number 3.
Partnering with Una means you gain immediate access to a team of indirect spendmanagement experts offering procurement and supplychain knowledge, category advisory, insight into spend data and cost comparisons, supplierrelationshipmanagement, and more.
How to Implement a Strategic Sourcing Process A play-by-play manual showing how to implement a strategic sourcing process that aligns with your organization’s goals, optimizes spend, and creates long-term value. By proactively addressing risks, organizations can safeguard their supplychains and drive efficiencies.
Spendmanagement and procurement will play a key role in enabling banks to achieve their efficiency targets while managingsupplychain risks,” he added. Moreover, the bank lacked any collaborative supplierrelationshipmanagement or sourcing tool.
Supplier Performance Management: How and What To Measure. Best Practices & Tips Supplier Performance SupplierRelationshipManagement. Measuring supplier performance is essential to maintaining a good relationship and ensuring that they continue to meet your standards. Download Free Copy.
Business spendmanagement suites, including SAP Ariba and Coupa software, offer marketplaces with App-Store like functionality. Maintaining their moat and preventing customers from defecting to more agile offerings on the market is a smart move. The cost of change is high, as is the risk of switching to another provider.
By fostering relationships with suppliers who are at the forefront of their industries, procurement can actively seek out partners that bring fresh ideas, cutting-edge technologies, and a mindset of continuous improvement, contributing to the overall innovative edge of the business. That’s why agility is one of our core values.
Being able to adapt fast keeps businesses agile and ready for whatever the market throws their way. Prioritize cybersecurity Make sure that your outsourcing partner has robust cybersecurity measures in place to minimize the chance of a supplychain or back-door attack on your organization.
Raindrop Raindrop is one of a number of US procurement startups offering enterprise-level spendmanagement platforms. Raindrop has also been recognised as a cloud-enabled procurement focused Contract Lifecycle Management (CLM) application. FRDM FRDM is a software company specialising in supplychain risk management.
That means working with agile partners, which most standard procurement strategies don’t account for. Building relationships with marketing agencies is just as important as managing any other part of your supplychain, whether you hire an agency full-time, or as a one-off. Technology May Be Problematic.
Supplierrelationshipmanagement Tension is never pleasant, but only those procurement professionals who pinpoint lacking supplierrelationships can evaluate and rectify the situation. Life cycle management. Coupa Coupa is a business spendmanagement platform that allows users to manage expenditures.
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