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
This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive riskmanagement, and deeper integration across the supplychain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g.,
Across industries, AI is capable of reshaping procurement, making it smarter, more predictive and highly efficient. In this article we will highlight some of the key changes AI has made to procurement strategies in the following industries: manufacturing and industrials, life sciences and healthcare, and the public sector.
A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, riskmanagement, and contract negotiation. Category Management Category management refers to the focused management of individual aspects of your procurement process.
Metrics such as reducing supplier numbers, increasing digital contract usage and enhancing sourcing efficiency are common priorities. By integrating these technologies, organizations unlock efficiencies, enhance decision making and create more agile, connected supplychains, ultimately boosting their ROI.
Changemanagement isnt a sidekick in this story; its the star of the show. The case for procurements digital transformation As mentioned, the relationship between digital enablement and procurement performance (efficiency, effectiveness, innovation) is clear. Lets explore these aspects.
Legal teams emphasize regulatory compliance, contract enforcement and risk mitigation. Suppliers and external partners contribute another layer of complexity, as they rely on procurement systems for seamless onboarding, data accuracy and operational efficiency.
Procurement efficiency (or lack of it) is the elephant in the room. Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. This is neither an effective, nor or efficient use of their time. This is neither an effective, nor or efficient use of their time.
Risk Mitigation: With real-time monitoring and predictive analytics, AI helps teams identify supplier risks early and take proactive measures to avoid costly supplychain disruptions. This strengthens internal controls and reduces regulatory risk, while improving audit readiness.
Sure, automating old, repetitive processes makes your work more efficient. Making changemanagement for requirement gap analysis impossible as a reference or baseline does not exist. The disconnect often occurs because of insufficient changemanagement. It can even kill a project.
is a leading AI-powered platform specializing in third-party riskmanagement, compliance, and supplier lifecycle automation. Leadership Founder & CEO: Jag Lamba, former McKinsey consultant, leads the company with a focus on operational agility, riskmanagement, and AI innovation. Everything about Certa.ai
Public procurement departments are navigating a complex landscape of challenges, including regulatory shifts, inefficiencies, difficulty building resilient supplychains, and an increasing demand for sustainability and transparency.
Procurement has become a strategic function in modern businesses, with growing pressure to manage costs, improve supplier performance, and drive operational efficiency. Efficient data management involves the collection, cleaning, integration, and storage of procurement data.
Supports Transparent, Auditable Scoring Because strand commonality demands evidence that links can be traced across different organizational units and systems, the resulting Fit Score is transparent and auditable.
Fit Score Link : Agent-based logic contributes to evaluating how flexible and decentralized a platform is—critical for changemanagement and adoption scoring. Complex Workflows : Fragmented tech stacks and inefficient processes hinder agility and cost efficiency in large enterprises.
Moderate trust due to limited transparency and consulting ties. Procurement Insights Value: ROI Case Studies: Procurement Insights real-world examples of cost savings or efficiency gains (e.g., The Hackett Group Hacketts Profile: Valued for the Digital World Class Matrix, focusing on ROI and business value in S2P suites.
The real estate industry, characterized by intricate processes and substantial investments, constantly seeks ways to enhance efficiency, reduce costs, and ensure timely project completion. This comprehensive solution streamlines procurement activities, improves and provides transparency across the entire supplychain.
but also external data such as supplier networks and performance, extended supplychains, and the environmental impact of their operations. Agentic AI can adapt to changing conditions and make independent operational decisions without human intervention, improving efficiency and reducing downtime.
The past few years have highlighted serious deficiencies in prevalent supplychain strategies and the major risk that disruptions pose to corporate success. years and companies can expect to lose 42% of one year’s EBITDA every decade due to supplychain disruptions. Assessing Risk across the SupplyChain.
Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
Subscribe to SupplyChain Game Changer. Here we present five important steps for all individuals that are interested in digital supplychain transformation to help you attain success despite the numerous challenges that you are likely to experience. Understand your beginning point and all the risks involved.
Today I’m joined by Osa Commerce , an innovative software provider that is on a mission to tackle data chaos in the supplychain. Throughout my career, I have successfully led GTM strategies, built strong brands, and managed high-growth teams. The customer is demanding much more, they want everything fast!…
I studied procurement and obtained a Master’s degree in supplychain and international procurement. Since I graduated, I’ve always worked in procurement and supplychain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects.
I studied procurement and obtained a Master’s degree in supplychain and international procurement. Since I graduated, I’ve always worked in procurement and supplychain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects.
Subscribe to SupplyChain Game Changer. Procurement is a function that is undergoing an exciting transformation in the majority of global value chains; simultaneously, within its own strategy, process, and technology. Change requires ChangeManagement. Change can be an uphill battle. Subscribe Here!
By implementing Oracle , one of the world’s leading enterprise resource planning (ERP) tools, organizations can transform their business processes and significantly increase operational efficiency. Companies large and small are increasingly digitizing and managing vast troves of data.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
Subscribe to SupplyChain Game Changer. The Digital SupplyChain Road is Full of Potholes, Construction and Accidents! Sometimes, digitalization requires changemanagement, process shifts, and organizational restructuring. SpendMatters SupplyChain Dive SupplyChain Digital Art of Procurement (Podcast).
The root causes of these issues often stem from a clash of the following critical SupplyChain Variables: Poor Toxic Culture. The Next Level Purchasing Body of Knowledge underpins, integrates and enhances the essential components of SupplyChainManagement in simple how-to-do steps. Flawed Processes.
Contract Logistics is a critical aspect of the supplychain that often remains behind the scenes but plays a significant role in ensuring the efficient movement and management of goods. Key Players In the world of contract logistics, several key players collaborate to ensure the smooth functioning of the supplychain.
Subscribe to SupplyChain Game Changer. Imagining the SupplyChain of the Future! Mike Mortson was recently interviewed by Oracle as a part of their Global SupplyChain Influencer program. This article was posted on Oracle’s SupplyChainManagement blog. Email Address.
In recent years, artificial intelligence (AI) in procurement has emerged as a game-changer, redefining how organizations manage their supplychains, purchasing decisions, and. This not only saves time but also reduces the cost of managing procurement processes.
Subscribe to SupplyChain Game Changer. At SupplyChain Game Changer we believe in sharing experiences and expertise from people in every industry and from across the globe. As such we have introduced our “ Seasoned Leadership in Action ™” Interview series at SupplyChain Game Changer.
What is SupplyChainManagement (SCM) SupplyChainManagement (SCM) is the management of the flow of goods, services, information and finances as they move from raw materials to final product, from manufacturer to consumer. Optimized supplychains lead to improved profit margins.
Most experienced Procurement Managers don’t enjoy performing administrative tasks and firefighting operational issues. And yet, poor operational efficiency in Procurement means that the typical Category Manager often spends at least a THIRD of their time performing “busy work” This is not an effective or efficient use of their time.
To gain operational efficiencies by standardising and simplifying purchasing processes across fewer supplier relationships. This enables data-driven supplier management and performance optimisation. To mitigate supplychainrisks and improve business continuity by reducing dependence on many small suppliers.
Metrics : Procurement tracks savings, efficiencies, supplier performance, and risk. Procurement is strategically important because it: Drives significant cost savings through economies of scale, supplier negotiations, and process efficiencies. Increases efficiency by standardizing, streamlining, and automating processes.
Last week on episode three of our WiseTech Global mini-series, we tackled one of supplychains most difficult, yet most important, topics – risk. One of the many lessons that the pandemic taught us was the importance of ensuring that robust riskmanagement is incorporated into our supplychain strategies.
Subscribe to SupplyChain Game Changer. categorically be boiled down to the ability to communicate efficiently. In order to best implement an S2P process, in 2019, a procurement team requires changemanagement, the support of intelligent digital solutions and cross-functional alignment. Subscribe Here!
As per the experts “ PLAN for 2023 requires a synergy between people, process and technology aspects.” Technology: CPOs should look for an integrated platform to manage all the spending and processes, such as third-party risk, sourcing, supplychain, invoicing, contracting, and payments.
Procurement is a vital activity in any firm, responsible for procuring goods and services efficiently and cost-effectively. However, the is fraught with risks that can impact a company’s bottom line and operational efficiency. Understanding these risks is the first step toward effective procurement riskmanagement.
Our offerings, from spend analysis and sourcing support to contract and supplier management, are designed to optimize procurement operations, improve efficiency, and drive cost savings. Here is where managed procurement services come into play. Now, let’s look at the importance of technology in procurement.
.” “The future of IBP will see a symbiotic relationship between humans and technology , where automation supports operational decisions, while human leaders focus on strategy, innovation, and riskmanagement.” My second, and more important observation, is that cultural changemanagement has a new AI addition.
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