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
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChainResilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Create speed and transparency.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychainresilience and agility in times of crisis. There are many supplychainmanagement lessons to learn from the Covid-19 crisis.
Many businesses go to market for solution support within supplier management with ESG/Corporate sustainability as a primary compelling event, or driving factor. Customer requirements on more sustainable products/services, and/or requests for supplychain transparency/due diligence.
Maja Tepeh , Senior Brand Manager at supplychain risk management solution Prewave , shares what their customers are looking for from their digital procurement investment. However, the cost avoidance from mitigating ESG-related supplychain risks, such as regulatory fines or disruptions, is equally important.
Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC
Global inflation is at record highs and the Great Resignation has given way to the Great Reshuffling, leading to uncertainty in talent markets. What will 2023 bring? Time will tell, but it is unlikely to be a return to the pre-pandemic normal.
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychainmanagement lessons to learn from the Covid-19 crisis. Supplier Data Quality & Management in Decision Making. Risk & Performance Management.
Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? Sustainable master data management and governance: As much as 55% of projects fail due to data management issues.
Redwood City, CA – Feb 24, 2021 – Ivalua , a global leader in Cloud Spend Management solutions , today announced the general availability of its new platform release 168. The release includes a broad set of innovations to help organizations better manage their spend and suppliers. Sourcing Innovations: .
Nearshoring and ally-shoring arent just buzzwords anymore; theyve shot to the top of the agenda for anyone trying to keep supplychainsresilient and businesses competitive. And one way to do that is to rethink where organizations source from.
This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party risk management. Third-party risk management (TPRM) is often an afterthought for organizations or a measure only taken after a risk event occurs. This Vendor Analysis explores Halo Ai’s platform, application and supporting services.
In this Spend Matters Vendor Analysis, we provide an overview of Supply Risk Solutions and its solution for supplier (chain) risk management. Supplier risk management is crucial for a variety of reasons. First and foremost, it helps organizations identify and mitigate potential disruptions in their supplychain.
As the procurement industry and supplychains become more tech-driven and complex, one fact is clear: companies that embrace industry trends will be best positioned to thrive in the challenging procurement landscape of 2025 and beyond. Here are five key trends that will shape procurement and supplychainmanagement in the coming year.
With the ability to facilitate real-time, multilingual voice interaction among teams, suppliers, and stakeholders, audio translator software provides supplychainmanagers with an invaluable tool to contain crises more effectively. This is where audio translation technology is a game-changer.
Supplychain pundits from industry and academia point out that it is possible for businesses to strike a balance between just in time and just in case. In this blog, let’s explore best practices that drive supplychainresiliency with this definition at the core. Why is supplychainresiliency important?
This Spend Matters Vendor Analysis gives an updated overview of Sphera’s SCRM solution, a solution built to improve supplychainresilience by tackling both predictable and unpredictable risks. The integration of the riskmethods application is a work in progress. GHG, human rights and PFAS). GHG, human rights and PFAS).
Collaborative efforts between buyers and suppliers, along with better tools, education, and incentives, can help overcome these barriers and foster a more sustainable supplychain.
Supplier Collaboration: Driving Innovation and Competitive Advantage In today’s hyper-connected global economy, where supplychains span continents, and industries are interlinked globally, supplier collaboration serves as the foundation to drive innovation and create a future-ready organization.
It is a strategic method of managing suppliers, where the focus is on aligning suppliers and partners with your business strategy. Supplier collaboration goes beyond traditional buyer-supplier relationships by promoting cooperation, transparency, and innovation throughout the supplychain.
Focus on large-scale transformations, strategic frameworks, and cutting-edge technologies like AI and supplychainresilience. Kelly Barner (Buyers Meeting Point) Strengths : Accessible and pragmatic advice for procurement professionals. Engages with broader procurement dynamics, including team management and outsourcing.
“A 2023 survey by KPMG highlights this transition, revealing that procurement leaders are now focusing on supplychainresiliency (68%), introducing new products or expanding into new markets (65%), and improving margins through cost reduction (71%). The focus is on efficiency and control. What is your take?
The complexity of today’s supplychain makes it more prone to severe impacts from disruptions, just like what happened at the start of the pandemic. . Due to this, many organizations have put supplychainresilience as a top priority. Collaborations can help companies to access top supplychain talent. .
Direct materials are usually managed with formal procurement processes and long-term contracts, which dampen price volatility and create predictability. This underscores the need for different procurement strategies, risk management, and technology solutions for indirect MRO spend versus direct materials 3 5.
In a world where geopolitical uncertainty is becoming commonplace, and retailers must stay resilient, leaders would be wise to apply a lesson from the past: make visibility an absolute priority. When Covid-19 first hit five years ago, retailers experienced the need for supplychainresilience.
For supplychain leaders , this isnt theory; its happening across the industry every quarter. Overlooked Ownership Structures That Complicate Deals A tangled web of joint ventures, minority stakes, and layered holding companies can catch buyers off guard. Sometimes these overlap or even contradict each other.
Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills? The primary goals of SRM are to foster hand-in-glove supplier relationships, manage risk, and optimize the value chain.
Public procurement departments are navigating a complex landscape of challenges, including regulatory shifts, inefficiencies, difficulty building resilientsupplychains, and an increasing demand for sustainability and transparency. Limited tech adoption Procurement technology adoption in the public sector is slow.
Modern Spend Management and Accounts Payable software. How better management in AP can give you better flexibility for cash flow management. Common disruptions such as economic instability, vendor delays, natural disasters, and supply shortages uniquely challenge schools due to tight budgets and rigid schedules.
Here are the 7 supplychainmanagement trends for 2023 – Building agile supplychain ecosystems. Managingsupplychain risk. Improving supplychain analytics. Enhancing supplychainresilience. Improving supplychain sustainability.
Our flagship product, Onventis Buyer cloud software, stands as a comprehensive procurement system designed to empower organizations across all aspects of procurement. Onventis Buyer represents a powerful solution that streamlines and automates the entire procurement journey, from the initial sourcing to the final payment to spend analysis.
The appetite for third-party risk management (TPRM) within procurement and the supplychain is keener than ever before — risks are more numerous and complex in what is an increasingly fast-paced and global business environment. Read our analysis: Risk is complex — The different types and sources of risk.)
Defining the New Normal in SupplyChain! Resilience article and permission to publish here provided by Sam White at Argentus. As everyone in SupplyChainManagement knows today, the field has come a long way. What’s Normal Anyways? Get Our EBOOK HERE. They must always result from a strategic decision.
Resources / Analyst Reports / Procurement 2024: BIG Trends and Predictions Procurement 2024: BIG Trends and Predictions Download Now Let's Talk By the end of 2024, new AI innovations will begin to significantly change all facets of supplymanagement technology. But in 2024, the role has never been more important.
From a buyer’s perspective, it can drive significant improvement in working capital, superior supplier performance and accelerated ESG initiatives. Additionally, artificial intelligence (AI) plays an important role.
Sometimes, digitalization requires change management, process shifts, and organizational restructuring. The inner ring & central focus areas being: Strategic Sourcing Contract Management Requisitioning Purchasing/Spot Buys Payment Spend Analysis. And you can’t brave this new world without solutions to manage your suppliers.
For example, the master data is now in place and they have managed to eliminate over 1,000 spreadsheets and reports over the past three years. He gives an example in the area of supplychainresilience. Buyers, he says, are spending a lot of time trying to get materials to their factories.
Such programs add more reporting requirements, costs on imported parts, and other considerations to an already complex supplychain. It’s anything but easy to manage. They include safety equipment, office supplies, cleaning, IT, rental cars, and others.
The reason being quite simply that there is so much else going on in our organizations and in the world at large that’s grabbing our attention: supplychain disruptions, supplier value management, risk factors, finding the right balance between savings and lead times and, last but not least, sustainability, in particular reducing carbon footprint.
Four AI in commerce use cases are already transforming the customer journey: modernization and business model expansion; dynamic product experience management (PXM); order intelligence; and payments and security. Over 90% of business buyers say a company’s customer experience is as important as what it sells.
Supplychainmanagers and inventory management professionals face a constant barrage of supplychain crises, with one always waiting around the corner. With every crisis comes the potential for supplychain disruption that can cause chaos for stock-holding businesses.
It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategic sourcing.
According to McKinsey , companies can minimize supplychain disruption through “greater visibility, rigorous risk management, and newer technologies that help companies better anticipate and respond to shocks.”. Managing Supplier Relationships. Managing risk. Managing costs. Meeting compliance requirements.
In this evolving climate, procurement and finance are coming together to re-think the procurement function as a strategic player driving value, especially when it comes to supplier relationship management. Let’s explore two examples at Johnson & Johnson to illustrate how this can work in a real-world setting.
Scoutbee is an AI-powered procurement network that connects buyers with potential suppliers. Agentic AI takes this a step further by enabling autonomous supplychain systems. If youre looking to supercharge your logistics career and embark on a path of success, then enroll in the SCMDOJO Logistics Management Track now!
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