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Sustainable Procurement Analysis — The Ultimate Guide. However, what is it when it comes to sustainability? In this article, we will discuss what sustainable procurement analysis is. Once you finish reading this article, you will gain a deeper knowledge of what sustainable procurement analysis is.
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).
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
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.
In recent years, Körber’s global supplychainmanagement network has been intergrated increasingly into all relevant processes – from product development to requirements processing – due to its significant contribution to the company’s success.
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.
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.
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. This means that, beyond cost savings, they can also influence the top line.
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 . ENABLE CORPORATE SUSTAINABILITY . IMPROVE PROCUREMENT AGILITY .
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.
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 sustainablesupplychain. Digitization of Procurement and supplychain is an area that is ripe for incrementalism. Stay Flexible .
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.
The coming wave is perhaps best illustrated by the vendor that acquired the largest share of the procurement technology market by pioneering the very concept of “spendmanagement” and an S2P suite: SAP with its acquisitions of SAP Ariba, Fieldglass (for contingent labor spendmanagement) and Concur (for “expense management”).
Traditional means of creating value include things like managing contracts with preferred suppliers , controlling maverick spend, and minimizing warehouse costs. Focusing on sustainability and partnering with a GPO can lead to greater cost reduction and better spendmanagement, as well.
In no order of preference, other than by the date they arrived in our inbox, today let’s hear from: Donna Wilczek, EVP Strategy and Innovation at Coupa , spendmanagement suite provider and one of Spend Matters 50 Procurement Providers to Know.
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. Get new resources weekly!
Balancing Cost, Resiliency, and Sustainability in Procurement: Insights from Georg Roesch Procurement professionals across industries and markets are struggling to keep their supplychainsagile in a world of constant disruptions.
With another busy year of procurement and supplychain events tidily packed away behind us, Spend Matters is pleased to provide a round-up of the main events we attended in 2023, with a short recap of each and key takeaways. Read the Ivalua NOW key takeaways here. million unique suppliers.
Among them were supplychain disruptions , inflation, and supply scarcity and shortages. Procurement has had massive challenges and targets over the past year: Managing inflation. Ensuring continuity of supply. Reducing spend. Driving sustainability. The SupplyChain Will Continue to Heal.
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. Ready to revolutionize your S2P process? Let’s get started below!
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.
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. Still, 50-67% of the companies failed to change their risk management standards.
With the increasing complexity of supplychains and the growing importance of sustainability and social responsibility, the role of procurement professionals has become more critical than ever. Properly identifying and mitigating risks is essential to ensuring success and sustainability.
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.
José Carande, Managing Director, Accenture Strategy, explained some of the difficulties and challenges faced by banks and financial services companies at a JAGGAER webinar on October 8, 2020. At the same time banks have to invest in new technology to ‘reinvent the industry’,” Carande said.
Many manufacturers also struggle to get a clear view of long-tail spend, since it involves numerous transactions spread across various departments and suppliers. Managing these supplies can be time-consuming and complex, leading to inefficiencies and higher administrative costs. On average, Arkestro sourcing cycles are 46.5%
The concept is fundamental to sustainable growth, competitive advantage, and long-term success. The initial investment pays off not just in the quality of prints but in lower servicing costs and a nod to sustainability. Company Vehicles Cost-First Crusader As the fleet manager, decide to go for the cheapest company vehicles available.
Procurement professionals are tasked with not only finding cost-effective suppliers but also ensuring the sustainability and competitiveness of their companies. Fast-growing companies are time-poor, and simply don’t have the resources for lengthy contract negotiations or supplier relationship management.
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.
It enables: Building stronger relationships with your key suppliers Competitive bidding, which optimises cost Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability Performing the appropriate pre-qualification of suppliers. Improvements to end-to-end supplychain efficiency.
The answer lies in the powerful tool of spend analysis. Spend analysis, a cornerstone of procurement and supplychainmanagement, is the process of collecting, cleansing, classifying, and analyzing expenditure data with the goal of reducing procurement costs, improving efficiency, and monitoring compliance.
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.
Evaluating non-price factors important to your organisational objectives e.g. quality, lead time, sustainability. Improvements to end-to-end supplychain efficiency. End-to-end supplychain visibility ensures more synergy in cooperation. Performing the appropriate pre-qualification of suppliers.
Companies, regardless of size and industry, need to source goods and services efficiently, cost-effectively, and with an eye toward sustainability and social responsibility. There’s also the challenge of negotiating favorable terms, tracking performance, and nurturing relationships to ensure smooth supplychain operations.
Companies, regardless of size and industry, need to source goods and services efficiently, cost-effectively, and with an eye towards sustainability and social responsibility. There’s also the challenge of negotiating favorable terms, tracking performance, and nurturing relationships to ensure smooth supplychain operations.
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. In these cases, the software can easily adapt to these processes as the business grows by automating purchase management.
Agility is key to any company’s long-term success. Using AI to optimize processes can result in better time management for employees, more consistent outputs, and stronger performance overall. Process standardization Reliable and sustainable procedures make it easier to establish and assess KPIs.
Headlined “forging paths to sustainable success,” the event attracted roughly 400 live attendees and featured Zip’s new branding and the announcement of new features. So, the term ‘spend orchestration’ that some like to use is really just upgraded spendmanagement. Cross-functional orchestration beyond intake.
Modern SpendManagement and Accounts Payable software. Helping organizations spend smarter and more efficientlyby automating purchasing and invoice processing. How better management in AP can give you better flexibility for cash flow management. What's PLANERGY? Download PDF Whats your goal today?
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