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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. Why is visibility so important?
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys.
In readiness for our Q1 2025 theme of Procurement Transformation, which will include how to even start your digital journey, how to make the case for it, how to shape your digital roadmap and how to survive it, we have received input from some solution providers on their own customers journeys.
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 supplychain management lessons to learn from the Covid-19 crisis.
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychain management lessons to learn from the Covid-19 crisis. This in turn enables procurement teams to better evaluate a situation, make decisions and act.
Resources / Blog / 5 Procurement Industry Trends to Watch in 2025 5 Procurement Industry Trends to Watch in 2025 In recent years, the procurement industry has undergone unprecedented transformations driven by the adoption of digital transformation, big data, and advanced technology like artificial intelligence (AI), machine learning, and automation.
Customers can now ensure greater supplychainresilience through improved supplier discovery and collaboration, increase efficiency across each step of the source-to-pay process and better understand and optimize cost drivers for goods and services purchased. About Ivalua. Learn more at www.ivalua.com. Media Contact.
In a world that feels like it is constantly teetering on the edge of chaos or permacrisis, procurement professionals must master uncertainty by building resilience and agility. And one way to do that is to rethink where organizations source from. Thats where discovery tools like Forestreets platform come into play.
I have noted that many LinkedIn posts regularly mention the belief that the C-Suite continues to see procurement primarily, if not solely, as a cost-savings function. This broader agenda suggests that while cost savings remain important, procurement’s role has expanded to include value creation and strategic partnership.”
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. There are over 300 regulations relating to public procurement in the UK.
STAKEHOLDER (AGENT) 1 What are the top five concerns for Chief Procurement Officers? Collaborative efforts between buyers and suppliers, along with better tools, education, and incentives, can help overcome these barriers and foster a more sustainable supplychain. Reference to Scoutbee buycott versus boycott post.
What are the pros and cons, and what supplychain strategy will pave the way to higher margins, improved supplychain risk management in healthcare and improved patient care? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
Choosing the best source for procurement and supplychain information and practical guidance depends on your organization’s needs, the type of advice you seek, and the stage of your procurement transformation. Jason Busch (Spend Matters) Strengths : Industry-specific expertise in procurement technologies.
However, third party risk management should be implemented in every procurement department, as regulations and the uncertainties of the post-pandemic era are making these issues around compliance, data security, supplychainresilience and business continuity increasingly important. This content is for members only.
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.
Spend Matters is once again delighted to release the ‘ 50 Procurement Providers to Know ’ and ‘ 50 Procurement Providers to Watch ’ lists, announced at the SIG Global Executive Summit on October 17. Together, they manage an annual procurement volume exceeding $16 billion, engaging with more than 350,000 suppliers.”
33 Procurement Interview Questions in 2023. Financial SupplyChain — The Ultimate Guide of 2023. Supplychain collaboration is definitely new to many newcomers in the supplychain industry. It may be an overused term in the supplychain but still confuses a lot of people. . LEARN MORE.
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.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Supplier Collaboration Software — What You Should Know The use of supplier collaboration software continues to rise as businesses grow and technology advances. However, what is it?
The Digital SupplyChain Road is Full of Potholes, Construction and Accidents! Digital Procurement article, and permission to publish here, provided by Sam Jenks at kodiakrating.com. Fact: A digital procurement roadmap is a cornerstone of any procurement organization’s digitalization journey. Don’t Panic!
This is due to factors such as fragmented procurement, lack of centralized contracts, supplychain disruptions, and rapid adoption of new technologies 3 5. Direct materials are usually managed with formal procurement processes and long-term contracts, which dampen price volatility and create predictability.
Procurement staff must send alternate sourcing orders. Audio translation permits procurement professionals to communicate with urgency and negotiate solutions more efficiently without the need for third-party interpreters while avoiding lag and momentum loss. Logistics coordinators will need to reroute deliveries.
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 supply management technology. But in 2024, the role has never been more important.
Hansens Procurement Insights blog does not explicitly describe a “learning loopback process for self-learning algorithms” in the context of procurement or his Agent-based Metaprise model. 20072014), focus on decentralized, agent-based procurement frameworks rather than detailed algorithmic processes. kg margins).
This resilience can be defined as “ the ability of a central procurement and supply management function to prepare for unexpected events, respond to disruptions, recover, and emerge even stronger. ” Manufacturers cannot foresee every risk, inconvenience, or disaster, but they can equip themselves to handle the unexpected and come out on top.
RSupply chains run on more than trucks and warehousesmoney drives the innovation that keeps goods moving. Most investors see opportunity when technology and logistics converge, especially as private equity takes a front seat in procurement, distribution, and manufacturing. A clear strategy here saves both time and resources later on.
Common disruptions such as economic instability, vendor delays, natural disasters, and supply shortages uniquely challenge schools due to tight budgets and rigid schedules. Tools like PLANERGY enhance supplychainresilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers.
Spend Matters is publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. Geopolitics becomes a procurement issue Supplychainresilience will assume new meaning, with geopolitical tension presenting a complex puzzle for any global business.
Resources / Blog / A Masterclass on Automotive Procurement: Trends, Tips, and Tactics to Get Ahead A Masterclass on Automotive Procurement: Trends, Tips, and Tactics to Get Ahead Automotive procurement is rapidly changing. No spam, just relevant procurement news and tips. Subscribe to news from Arkestro.
All around the SupplyChain world, professionals are shifting their focus to make sure that they can withstand supplier disruptions, not only due to COVID-19, but to future emerging issues as well. Long-term business relationships between suppliers and companies are inherently more resilient than purely transactional relationships.
Resources / Blog / The Three Sciences: Redefining Procurement With AI, Game Theory, and Predictive Analytics The Three Sciences: Redefining Procurement With AI, Game Theory, and Predictive Analytics Procurement has been stuck in the past for far too long. With Arkestros Predictive Procurement, that world becomes a reality.
I was recently delighted to be joined in webinar discussion by Iain Prince, Operational Transformation & SupplyChain Partner at KPMG. The topic under discussion was current challenges in direct procurement. Pre-pandemic, nobody outside procurement and supplychain management ever mentioned it.
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.
On September 21 & 22, over 5,000 people from numerous leading global corporations came together for DPW Amsterdam 2022 to share their experiences about a wide range of topics in Procurement and SupplyChain. He gives an example in the area of supplychainresilience.
What is Procurement? Procurement refers to the business processes involved in acquiring goods, services, and work from external suppliers. Scope : Procurement spans the entire process from identifying requirements to contract closure. Stakeholders : Procurement involves multiple internal stakeholders across the organization.
I have been negotiating as either a buyer or a seller for most of my life. Procurement Insights, October 2010) Are women really better at negotiating than men? Procurement Insights, April 2022) Is This A Good Negotiation Outcome? Here are a couple of the more memorable ones: Does Age Influence Contracting Negotiation Styles?
As we are coming to the end of the year, procurement and supplychain leaders across industries initiate their annual strategic planning process for the next year. Here are the 7 supplychain management trends for 2023 – Building agile supplychain ecosystems. Managing supplychain risk.
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. So you have to consider the role of your buyer and the problem they want to solve.
Brief Overview of Procurement Welcome to our deep dive into the world of procurement. But before we venture into the depths of innovation in this field, let’s first establish what procurement really is. This is especially true in procurement, where the landscape is rapidly evolving. Understanding Procurement A.
How do high interest rates and inflation impact supplychains? Higher interest rates make borrowing money more costly, making financing day-to-day operations such as inventory procurement, transportation and storage more expensive. More expensive borrowing. One way to do this is with ABC/XYZ analysis.
Procurement professionals of all types face a challenging and dynamic work environment. The pandemic and resulting supplychain disruptions have added extreme pressure on the health and pharma sector to address shortages quickly and efficiently. What Are the Biggest Procurement Challenges in Health and Pharma?
Resources / Blog / How to Transform Procurement into a Strategic C-Suite Player How to Transform Procurement into a Strategic C-Suite Player Procurement is at a crossroads. However, only 31% say procurement is driving their strategic agendas.
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. Digitization is a key enabler for building supplychainresilience.
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