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Procurement and supplychainmanagement are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. In this blog, we cover the key differences between procurement and supplychainmanagement, and explain where the biggest disconnects typically occur.
Direct and indirect procurement are two fundamental approaches in supplychainmanagement, each serving distinct functions within an organization. Indirect procurement supports organizational agility, requiring tailored controls and workflows to manage cross-functional spend.
(A PI Q&A) , A reader asked the following question: Aside from the basics of spend analysis and eliminating redundancy, I’m curious to hear of others’ experiences in dealing with mergers/acquisitions and how the cultural elements were addressed in terms of promoting the use of preferred vendors and the adoption of expense management policy.
Network Member Question Aside from the basics of spend analysis and eliminating redundancy, Im curious to hear of others experiences in dealing with merger/acquisitions and how the cultural elements were addressed in terms of promoting the use of preferred vendors and the adoption of expense management policy.
Improved agility to support organizational growth and changes. For more information on analyzing spendmanagement, check out our Spend Analysis section. Compliance and Risk Mitigation: Built-in governance and audit trails ensure adherence to regulatory frameworks, reducing the risk of supplychain disruptions.
Supplychain software is a game-changing tool that offers immense opportunities for growth and success in the transportation services market. Nevertheless, the supplychain industry faces various challenges that can be effectively addressed through the utilization of high-performing software solutions.
This helps companies be agile and respond to market changes and investment opportunities. Minimize SupplyChain Disturbances By analyzing spending patterns, companies can identify critical suppliers and potential risks, such as over-dependence on a single supplier or geographic region. But the right tools matter.
On the one hand, supplychain weaknesses are open to risk, and even the smallest challenges are magnified. 2) Prioritise visibility At the heart of managing demand is supplychain visibility. The function must have a clear view of the supplychain through accessible, accurate and reliable supplier data.
When Covid-19 first hit five years ago, retailers experienced the need for supplychain resilience. Now, as they build the agility and strength needed to respond to potential unexpected events, we can look to this period for guidance. A key flaw to emerge was that supplychains were murky. Nothing moved.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. What's PLANERGY?
JAGGAER characterizes the steps in this process as SpendManagement, Category Management, Sourcing , and Contracts. Secondly come eProcurement, SupplyChain Collaboration, Invoicing, and Payments. Digitalization also fosters greater agility in supplier management.
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.
6 Coupa Software 2006 Founded in 2006, a relatively younger leader in spendmanagement. 9 Lytica 2015 Established in 2015, a newer player in supplychain analytics. 2 Coupa Software 3,000+ employees Publicly traded, $725M revenue (2023), a major player in business spendmanagement.
Procurement analytics platforms enable access for multiple users across departments, encouraging collaboration between procurement, finance, supplychain, and operations teams. Several types of analysis are applied: : Analyze your spending to find out how much, with whom, and on what.
A prime example of this is sustainability: since a large portion of emissions lie within the supplychain, procurement holds a crucial lever here think Scope 3. Proper orchestration of supplychains enhances corporate resilience. Procurement professionals are increasingly evolving into strategic value creation partners.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. Simpler Logistics and SupplyChainManagement With operations overseas, you run the risk of becoming too reliant on global supplychains.
In contrast, SAPs Joule, an AI copilot in S/4HANA Cloud, uses explicit feedback loops, such as gradient descent for procurement analytics, to optimize tasks like supplier selection and spendmanagement, leveraging structured AI methodologies. Cosmetics/Coffee: Joule excels in cosmetics spend analytics (e.g.,
Dangerous SupplyChain Myths (Part 7) Are you chasing solutions or solving problems? Additionally, this post is a follow-up to the previous one titled “Is Spend Matters – Now The Hackett Group Swinging for the Fences with Loaded Bases? Their supplychain expertise (e.g., Their supplychain expertise (e.g.,
Leveraging Reveels unique position in parcel spendmanagement within the SupplyChain/Logistics ecosystem, Marc collaborates with adjacent solutions to provide comprehensive offerings for high-volume shippers. How do I shape where I need to go next year, knowing that supplychain is changing really quickly?
A consolidated 6-model Level 1 assessment generally had good things to say about SpendKey, with the following NOTABLE caveats across the board: “SpendKey’s fit assessment criteria, as described in its own documentation and related spendmanagement guides, include seamless integration, effective spendmanagement, robust spend taxonomy, comprehensive (..)
Its spendmanagement was fragmented, often requiring tools like Concur. Ramp retains an edge in agility and UX (6,500 hours saved, Forrester), while Amexs legacy brand and Nipendos depth appeal to entrenched corporates. So, why is Ramp “hidden in plain sight” in the procurement and supplychain world?
When procurement and AP work in silos, your business is left without the real-time visibility it needs to stay financially agile. It’s time to align procurement and AP efforts not just for efficiency, but for smarter, more strategic spendmanagement. The result?
Michael is passionate about Reveel’s mission to level the playing field and create transparency for parcel shippers and enjoys helping companies create optimized supplychains by transforming data into actionable intelligence. Jennifer is an innovative manager with over 20 years of supplychain and logistics experience.
Skip to main content CONTINUE TO SITE ➞ Dont miss tomorrows supplychain industry news Let SupplyChain Dives free newsletter keep you informed, straight from your inbox. UPS has also levied peak season surcharges for years. As of Thursday morning, the company hasnt made an announcement on 2025 holiday fees.
83% fear the biggest disruption from Brexit is yet to come, while increasing supplychain disruption caused revenues to drop by an estimated 18%. Increasing supplychain disruption meant that 28% of UK businesses lost revenue in the last 12 months, with these businesses estimating an average drop in revenue of 18%.
Ivalua SpendManagement Insights [ivory-search] Navigating CSRD Regulation: What Procurement, SupplyChain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
Procurement needs digitization at its core to enable automation, efficiency, and innovation within the supplychain. These platforms bring key stakeholders together to address customer expectations, regulation compliance, supply risks, and much more. Digitization Benefit #3: Total SpendManagement.
Ivalua, a global leader in spendmanagement, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychain risk management thanks to Ivalua’s Source-to-Contract (S2C) solution. About Ivalua.
Ivalua, a global leader in spendmanagement , and Capgemini, a global IT services and consulting firm, today announced that after a comprehensive evaluation of available technology solutions, the Volkswagen Group has chosen Ivalua’s platform to digitize its global indirect procurement processes for the Group’s entire brand portfolio. “We
The majority of organizations consider supplychain transparency to be a top priority, however less than a third are satisfied with the level of visibility into their suppliers. Most organizations continue to suffer from severely limited visibility in the lower levels of their supplychains. About the research.
Yet despite the availability of new platforms and analytics tools, supplychain risk management strategies remain in their infancy post-pandemic. Yet despite the availability of new platforms and analytics tools, supplychain risk management strategies remain in their infancy post-pandemic.
The pandemic wreaked havoc on businesses and their supplychains, but even in these trying times, there’s a silver lining. What we learned about agility and resilience can be applied to future-proof the source-to-pay (S2P) process and help organizations meet any new challenge with confidence.
It can also help drive sustainability initiatives in your supplychain and procurement process. . The Closed Loop SpendManagement. You may ask yourself, why is closed loop spendmanagement being brought up? Responsible sourcing – Establishing trust and transparency in the value chain.
Ivalua SpendManagement Insights [ivory-search] Get Ready for Success! Gartner, 4 Workstreams for Successful Implementation of Any Procurement Application Vishal Patel VP Product Marketing Vishal has spent the last 15 years in various roles within the Procurement and SupplyChain technology market.
Ensuring supplychain continuity, identifying new revenue opportunities, and improving decision making are key focuses as firms recover from the pandemic. Ensuring supplychain continuity, identifying new revenue opportunities, and improving decision making are key focuses as firms recover from the pandemic.
Ensuring supplychain continuity, identifying new revenue opportunities, and improving decision making are key focuses as firms recover from the pandemic. Ensuring supplychain continuity, identifying new revenue opportunities, and improving decision making are key focuses as firms recover from the pandemic.
Ivalua SpendManagement Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. Meanwhile, the pace of business is accelerating, requiring organizations to be more responsive and agile.
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 .
Best practice supplychain & procurement capabilities now available for rapid deployment to manufacturers. Redwood City, CA July 10, 2019 – Ivalua, a leading provider of global SpendManagement Cloud solutions, today announced the availability of a pre-packaged suite of solutions for manufacturers.
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.
Ivalua SpendManagement Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.
Improving business resilience and reducing supply disruption to protect revenue and profitability has become a top priority in 2022. We expect procurement organizations will continue to enhance visibility, agility, and capability. . REDUCE SPEND COST . IMPROVE PROCUREMENT AGILITY . ENABLE CORPORATE SUSTAINABILITY .
Ivalua SpendManagement Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. Furthermore, their rapidly shifting nature requires a new level of agility.
In this disruptive age, businesses must move faster and become more agile, so Procurement must respond, to this or we will become obsolete. And increasingly, that means collaborative working with key suppliers who can support that need to be innovative, flexible and agile.
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