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(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.
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.
“A 2023 survey by KPMG highlights this transition, revealing that procurement leaders are now focusing on supplychain resiliency (68%), introducing new products or expanding into new markets (65%), and improving margins through cost reduction (71%). Its less about control and more about agility.
Tasked with navigating the complexities of third-party risk within a legacy environment, I quickly realized the significant challenges posed by technical debt, outdated contracts and identifying business owners responsible for existing vendorrelationships. What are Halo Ai’s greatest strengths?
4] Automated Supplier Management is the New Standard: From onboarding to performance monitoring, automation tools are improving accuracy, compliance, and vendorrelationships while easing the administrative burden. [5] 7] This proactive approach supports continuity and reduces the impact of supplychain disruptions.
Leadership Founder & CEO: Jag Lamba, former McKinsey consultant, leads the company with a focus on operational agility, risk management, and AI innovation. Optimization & Continuous Improvement Performance Monitoring: Use Certas analytics to track KPIs, identify bottlenecks, and optimize workflows (e.g.,
When vendor management is handled manuallythrough endless emails, spreadsheets, and phone callsit often leads to errors, inefficiencies, and missed opportunities. simplifies this process by providing a centralized platform where businesses can onboard vendors, track performance, manage contracts, and ensure complianceall in one place.
If you asked those same leaders what they wished they had in place and are now investing in heavily, the answer would be “supplychain analytics.” Moving from raw, unintegrated data to useful supplychain analytics is expensive — and it takes time. Enter 2025, and we’re facing another major supplychain challenge.
We believe that a key pillar of this transformation is the supplychain. With such growth comes supplychain complexity. Shift towards self-contracting and self-distribution: With health systems gaining significant scale and wanting more control over their supplychain, this shift is accelerating.
Subscribe to SupplyChain Game Changer. How to Invest to Make Your SupplyChain More Efficient! Supplychains are central to optimal eCommerce results. The supplychain includes everything from ordering raw materials from suppliers to ensuring products are delivered to consumers in the best condition.
CTA April 28, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. A recent webinar hosted by SupplyChain Now, “Balancing Cost, Risk and Sustainability in the Midst of Uncertainty, ” took an in-depth look on what it takes to transform Procurement into a highly efficient function that supports these key initiatives.
Ivalua Spend Management 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.
This allows for the identification and implementation of measures to mitigate any delays or obstacles in the supplychain by organizations. Procurify Procurify is equipped with a variety of tools that optimize your Procurement tasks. This approach promotes efficiency throughout the whole procurement process.
The US-China trade war is heating up againand it’s hitting where it hurts: your wallet, your favorite products, and global supplychain operations. Retailers Are Rerouting SupplyChains To avoid volatile Chinese trade routes, companies are nearshoring to Mexico, Vietnam, and other regions.
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.
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.
Digital procurement is the use of technology to optimize and automate procurement processes and workflows. Manual tasks take up time that could be better spent on value-producing activities such as price negotiations or vendorrelationship management. Nowhere is this more true than in the challenges to the supplychain.
Build a more efficient and connected procure-to-pay process with The Definitive Guide to P2P Optimization Importance of procurement KPIs Procurement has evolved over the years from transactional functions (now associated with purchasing) to encompass strategic activities focused on maximizing and creating value for a business.
In the intricate dance of pharmaceutical supplychains, efficiency is key to ensuring the safe and timely delivery of life-saving medications.In Streamlining SupplyChain Processes through Automation and Integration LOG Pharma has revolutionized its supplychain processes by leveraging automation and integration techniques.
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