Spend Matters

SEPTEMBER 26, 2024

For this year’s Spend Matters Fall 2024 SolutionMap release – our comprehensive methodology designed to help organizations evaluate and select procurement solutions – we launched a new module: third-party (and supply chain) risk management (TPRM and SCRM).

Risk management 120

Risk management Risk Management Procurement 120

TYA Suite

NOVEMBER 15, 2024

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.

Risk management 40

Risk management Risk Suppliers Strategy 40

Procurement Templates

NOVEMBER 21, 2024

Consult Legal Teams: Collaborate with in-house legal experts to draft and review procurement contracts. Audit Supply Chains: Identify and address environmental and social risks in the supply chain. Collaborate with Suppliers: Encourage suppliers to adopt sustainable practices through joint initiatives. Coursera, Udemy).

Agile and Lean Supply Chain 130

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization supply chain software solutions 130

Jaggaer

OCTOBER 24, 2024

The Art of Supplier Collaboration: Best Practices to Build Lasting Partnerships Dynamic market changes and global events seem to create newer demands and greater pressure on procurement professionals. Growth Strategic supplier relationships are vital for supporting business growth.

Collaboration 52

Collaboration Suppliers Supply Chain Efficiency supply chain software solutions 52

Spend Matters

NOVEMBER 19, 2024

As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.

Risk 113

Risk Strategy Agile and Lean Supply Chain Procurement 113

Procurement Leaders

MARCH 10, 2023

For Mirela Boldu, senior programme manager – supplier risk management, managing these threats is crucial to the function. “We are not only focused on cost-reduction, but also added value when we talk about sustainability, innovation and risk avoidance.

Collaboration 147

Collaboration Supply chain Management Risk management 147

Spend Matters

NOVEMBER 7, 2024

What is Halo Ai HaloAi is a third-party risk management (TPRM) solution that aims to be a one-stop shop for third-party risk so that organizations do not need multiple point solutions. Halo Ai uses AI models to connect, correlate and contextualize real-time data points to bring customers the full risk story.

Risk management 114

Risk management Risk Suppliers Supply chain 114

ivalua

SEPTEMBER 19, 2022

In a Forrester Consulting survey of over 400 procurement decision makers at companies with over 1000 employees, the top barrier to ensuring supply continuity was an inability to effectively assess the overall risk across suppliers in a category. Improving Supplier Collaboration. Fortunately, we have what we need today.

Risk management 130

Risk management Supply Chain Efficiency Supply Chain Optimization Risk 130

Spend Matters

DECEMBER 16, 2024

In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. Design-for-Supply part 1, part 2, part 3 and part 4.

Agile and Lean Supply Chain 112

Agile and Lean Supply Chain Management Supply Chain Efficiency Supply Chain Optimization 112

Spend Matters

MAY 1, 2025

Yet, many organizations struggle to modernize procurement processes, not due to a lack of technology, but because they fail to align workflows, stakeholder collaboration and automation effectively. A collaborative procurement model ensures that stakeholders work together to optimize purchasing strategies and vendor relationships.

Real-time Visibility 76

Real-time Visibility supply chain budgeting Procurement Supply Chain Optimization 76

Procurement Insights

FEBRUARY 18, 2025

EDITOR’S NOTE: I have recently completed a preliminary analysis of Packaging & Container Companies’ challenges to enable greater supplier collaboration and automation around the purchase order process, including PO confirmations, shipment notices, and price/quantity changes.

Purchase orders 52

Purchase orders Collaboration Purchasing Suppliers 52

SCMDOJO

JANUARY 9, 2025

Key Benefits of Strategic Sourcing Building Long-Term Supplier Partnerships Strategic sourcing focuses on identifying and collaborating with suppliers who align with a companys long-term goals. Greater Supplier Satisfaction: Engaged suppliers who see the value in a long-term partnership are more willing to collaborate and innovate.

Strategic sourcing 98

Strategic sourcing Strategic sourcing Sourcing Procurement 98

Procurement Leaders

DECEMBER 9, 2022

We are proactively communicating with top management to provide a heads-up in terms of financial target planning and support for action planning – both in terms of macro updates and raw-material price impacts. What new capabilities are you looking to develop in your team to help you navigate this period of volatility?

Collaboration 162

Collaboration Supply Chain Efficiency Raw materials Supplier relationship management 162

Spend Matters

MARCH 25, 2025

How procurement can effectively manage stakeholders To drive digital transformation, procurement leaders must take a structured approach to identifying, engaging and collaborating with stakeholders. Building cross-functional collaboration Cross-functional collaboration is essential for successful procurement transformation.

Stakeholder engagement 97

Stakeholder engagement Management Procurement Influencing 97

Procurement Insights

OCTOBER 31, 2024

In the meantime, here are a few insights from my 40-plus years in high-tech and procurement regarding one of the previously mentioned four points: Collaborative Supplier Networks: How do you achieve the flexibility and adaptability to respond to “unpredictable markets?” What are collaborative supplier networks?

Supply Chain Optimization 75

Supply Chain Optimization Risk management Networking Collaboration 75

Spend Matters

NOVEMBER 13, 2024

These and other similar risks have increased with globalization, and reputational damage can be significant, as many cases have shown over the years. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes reputational risk The causes come from many quarters.

Risk 113

Risk Supply Chain Efficiency Supply chain Suppliers 113

Spend Matters

APRIL 15, 2025

Procurements most valuable players Jesus Campos , CEO CorporateLATAM, once wrote on Spend Matters that procurement functions must address two key areas to navigate the uncertainty of global markets: risk management and organizational structure the latter being relevant to our discussion on procurement transformation. The Risk Manager.

Procurement 102

Procurement Category management Chief Procurement Officer Risk management 102

SCMDOJO

OCTOBER 28, 2024

Sales & Operations Planning (S&OP) is an established industry process that aims at finding a balance between demand and supply and streamlining cross-functional collaboration. This collaborative approach leads to a more proactive and preventative approach to quality management.

Procurement 95

Procurement Supply Chain Optimization supply chain budgeting Supply Chain Efficiency 95

Procurement Templates

DECEMBER 11, 2024

Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Having good relationships with our suppliers means that they are also willing to work with procurement collaboratively, after all a win win situation should benefit both parties. Wait, what about stakeholders?

Procurement 130

Procurement Supply Chain Efficiency Cost of ownership supply chain budgeting 130

Spend Matters

NOVEMBER 14, 2024

State of Flux’s best practice model consists of six pillars that have been the staple of its proposition from the outset: value, engagement, governance, people, technology and collaboration. Engagement — Between the business managers who are working with suppliers on a daily basis, including the C-suite, and the suppliers themselves.

Suppliers 117

Suppliers Raw materials Collaboration Management 117

Spend Matters

APRIL 30, 2025

Shift AP roles from data entry to exception management: Train teams to focus on analytics, supplier collaboration and fraud prevention. Create a cross-functional AP steering committee: Ensure finance, IT and procurement collaborate on design, rollout and optimization.

Collaboration 100

Collaboration Suppliers Data Procurement 100

IBM Supply Chain Blog

APRIL 25, 2023

Environmental, Social, and Governance (ESG) risk management has emerged as a critical aspect of business strategy for companies worldwide. Focusing on ESG Risk Management can help your organization become more profitable, and your organization can start on this journey today. Collaborate with suppliers.

Risk management 78

Risk management Risk Management Sustainability 78

Procurement Insights

JANUARY 3, 2025

Key metrics were tied to cost reduction and spend under management. Collaboration with finance was transactional rather than strategic. Impact of Globalization and Supply Chain Complexity : The complexity of global supply chains highlighted procurement’s role in managing risks, ensuring continuity, and driving efficiencies.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Efficiency Procurement 52

ivalua

APRIL 23, 2020

The overall theme is the “Journey to Procurement Excellence”, focusing on how Procurement can deliver value through supplier collaboration, supplier risk management and more advanced strategies and capabilities to deal with Procurement and supply chain management risks and challenges – while not forgetting cost and operational perspectives.

supply chain software solutions 46

supply chain software solutions Supply chain Procurement Supply 46

Procurement Insights

APRIL 25, 2025

I can help procurement practitioners dramatically improve ProcureTech implementation timelines, ROI, supply chain resilience, risk management, tariff management, and overall implementation success. So, here are my answers to both questions: YES and YES! And just remember, YOU asked me!)

Supply chain resilience 52

Supply chain resilience Supply Chain Optimization supply chain budgeting Risk management 52

Supply Chain Brain

SEPTEMBER 25, 2024

Traditional supply chain risk-management strategies are based on limited and static sources of insight, and often fail to support cross-functional collaboration

Risk 115

Risk Supply chain Risk management Supply 115

ivalua

FEBRUARY 8, 2023

As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures.

Supply chain resilience 242

Supply chain resilience Supply Chain Efficiency supply chain budgeting Agile and Lean Supply Chain 242

ivalua

JANUARY 29, 2021

PWC has been publishing the annual procurement survey since 2015, capturing many of the trends in procurement that we now see in organisations, such as the focus on supplier risk management.

Suppliers 195

Suppliers Bill of materials Procurement team Risk management 195

Procurement Insights

APRIL 29, 2025

QUESTION 1 What are the odds of a Procuretech selection and implementation initiative succeeding when there is good communication between procurement, IT, and finance, and when said communication and collaboration are lacking? Poor Communication 20-30% Misaligned requirements, integration failures, low adoption, cost overruns, no ROI.

Procurement 52

Procurement Collaboration Risk Leadership 52

Procurement Leaders

DECEMBER 9, 2022

Our challenges are linked to digitalisation, risk management and inflation. We have a three-year plan to switch or develop new digital solutions across e-sourcing, catalogues, vendor planning, collaboration, spend analysis and scorecards, etc. Digital, risk management and relationship-building skills.

Risk 130

Risk Suppliers Risk management Buyers 130

Jaggaer

FEBRUARY 28, 2025

Supplier Collaboration: Collaborate with suppliers to explore joint cost-savings initiatives. Risk Management: Develop a comprehensive risk management plan identifying potential disruptions and outlining mitigation strategies. This can free up procurement professionals to focus on higher-value activities.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Supply Chain Optimization Real-time Visibility 52

Procurement Insights

DECEMBER 11, 2024

Real-time data will inform sourcing decisions, risk management, and supplier relationships, leading to more informed and agile procurement functions. Strategic Supplier Collaboration** : Procurement will shift from transactional interactions to strategic partnerships with suppliers.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Procurement Supply Chain Efficiency Sustainability 59

SCMDOJO

FEBRUARY 15, 2025

In supply chain operations, it plays a crucial role in mitigating risks, improving response times, and optimizing workflows. By using its main principles, companies can: Identify risks early and develop contingency plans. Improve collaboration between suppliers, manufacturers, and logistics partners.

Project management 84

Project management Agile and Lean Supply Chain Supply Chain Efficiency Supply Chain Optimization 84

Procurement Tactics

MARCH 23, 2023

Digital platforms can help the source-to-contract process to be more manageable as it allows for automated bidding, digital purchase orders, online payments, and supplier collaboration. Collaborative sourcing When suppliers, sourcing experts , and procurement professionals come together, they make sourcing more collaborative.

Contract 156

Contract Sourcing Purchase orders Bidding 156

SCMDOJO

DECEMBER 29, 2024

However, it covers key differences between purchasing and procurement, explores common contract types, and emphasizes the importance of strategic sourcing, supplier relationships, and risk management.

Supply Chain Efficiency 93

Supply Chain Efficiency supply chain budgeting Supply Chain Optimization Supply chain 93

ivalua

MARCH 16, 2022

Not surprisingly, risk management and cost reduction are considered the most important priorities for Procurement professionals (see image 1). . Risk Management is Top of Mind. On the increased importance of managing risk. CEO Risk Management Priorities. Main Corporate Risks.

Procurement 130

Procurement Risk management Procurement team Risk 130

Let's Talk Supply Chain

MARCH 7, 2025

Collaborative Approaches for Resilient ‍Supply Chains Collaborative approaches in supply chain management have become crucial in navigating the challenges posed by the ongoing tariff ‍uncertainty.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply Chain Optimization Risk Supply chain 52