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.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.
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.
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.
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.
Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. What is Source-to-Pay?
Supplier Collaboration: Fundamental to Elevating Manufacturing Performance Supplier relationships are at the heart of manufacturing performance. That’s why supplier collaboration—that consistent, trusted, and responsive interaction between supplier and manufacturer—is pivotal to manufacturing success.
From this discussion, we compiled a list of 8 critical supplychain management activities that to improve, build, and maintain supplychainresilience now and in the years to come. Digital transformation will lead to the evolution and digitization of key procurement processes, from source-to-pay.
Heading 2: Leveraging SupplyChainResilience for tariff Adaptation General Motors (GM) has announced its confidence in its ability to navigate and mitigate the challenges posed by tariffs through strategic supplychainresilience.
Many of these organizations are already using Source-to-Pay technology and are now realizing more than ever that technology is a “must have” to ensure their supplychain remains resilient and agile throughout a crisis. Ability to collaborate, identify opportunities or issues and act.
Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to category management and strategic sourcing. The answer is simple – automation. See you soon!
Join us as we delve into the world of GTF2025, where resilience meets innovation, and the sky is no longer the limit. Heading 1: Advancing Global SupplyChainResilience Through GTF2025 Initiative In the pursuit of advancing global supplychainresilience,the GTF2025 initiative is poised to revolutionize the aviation industry.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychain management activities that can help Procurement teams build and maintain supplychainresilience now and in the years to come. Focus on digital transformation and adopt procurement technology.
Partners: Innovation through Collaboration Before the official event kickoff, we held a few sessions and a networking happy hour dedicated to our Partners. Together, we didn’t just talk about solving problems—we explored bold ideas, shared groundbreaking strategies, and collaborated on impactful solutions.
New platform release features a broad set of enhancements across Ivalua’s complete Source-to-Pay suite, including deep integration with Amazon Business. Out-of-the-box integration to Tealbook now enables customers to discover new suppliers with a single click and access a high-quality source of supplier information.
Instead of relying on outdated methods like emails, phone calls, and spreadsheets, supplier collaboration software empowers companies to automate processes, minimize errors, and create more transparent and productive partnerships. It involves sharing information, aligning goals, and jointly solving problems to create value for both parties.
Supplychains are complex and varied; to manage them effectively, you need to understand exactly what’s happening in both your supplychain and your customers’ end markets. But most sourcing and procurement teams need to pivot and modify the way they handle SCM decisions.
Shoring up staff is a good way to increase supplychainresiliency, which companies are trying to do more of today to ensure theirs has what it takes to stay together when it's taxed in the future. They all agreed that collaboration served as a binding agent. Here's how: 1.
Let’s set sail on a journey towards efficient and effective supplychain management. By harnessing the power of data analytics and strategic insights, organizations can proactively mitigate the impact of tariffs on their supplychains while enhancing operational efficiency and cost-effectiveness.
Collaboration with finance was transactional rather than strategic. 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.
I can help procurement practitioners dramatically improve ProcureTech implementation timelines, ROI, supplychainresilience, 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!)
Using the 4-Model RAM assessment framework, what are the top five procurement and supplychain issues the following industries face in 2025: Finance, Energy and Utilities, Pharmaceuticals, Food and Beverage, and Automotive? So, who is more accurate in their assessment?
A well-managed supplychain does not just survive crises it thrives in them. Why Project Management is Essential for SupplyChainResilience The approach provides a structured approach to handling complex tasks, timelines, and resources. Enhance visibility across the supplychain through structured reports.
By automating routine work, procurement professionals can focus on high-impact tasks like strategic sourcing and relationship building with key suppliers. Procurement teams will also continue to leverage supplychain mapping to gain a comprehensive understanding of the flow of data, materials, and payments within their supplychain.
These AI agents leverage real-time data, predictive analytics, and generative AI to enhance resilience, reduce costs, and improve overall efficiency in AI-driven supplychainresilience. Keelvar Keelvar specializes in autonomous procurement and supplier negotiations, making sourcing more efficient and cost-effective.
Goods arrived exactly when needed, waste and holding costs were kept to a minimum, and single source strategies prevailed due to ease and cost savings. Then, 2020 sent shockwaves through many JIT strategies; the disruption was just too big to absorb and supplychain ecosystems had not been built to flex.
Yet despite the availability of new platforms and analytics tools, supplychain risk management strategies remain in their infancy post-pandemic. The study also found that suppliers will be vital for successfully ensuring supply continuity. About the research.
However, the top three procurement challenges featured in the Hackett Group report demand immediate attention: slashing spending costs, securing supplychainresilience, and modernizing outdated operating models. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing.
Through the strategic implementation of AI solutions, companies can unlock a myriad of benefits, including predictive analytics for demand forecasting, automated inventory management to minimize stockouts, and real-time monitoring for enhanced visibility across the entire supplychain.
With the return to normalcy, here are some key supplychain implications to consider: Production Ramp-Up: Boeing can now accelerate production to make up for lost time during the strike period. By leveraging data analytics and predictive modeling, organizations can better anticipate and mitigate future supplychain disruptions.
The pandemic has accelerated this trend, with the Procurement function front and center in the fight to ensure supplychainresilience and continuity, reduce costs and protect the bottom line. There’s a much bigger dividend to obtain by automating the most boring, mundane tasks of your top sourcing professionals.” .
Supplier Value Management (SVM) platforms include the various applications used to automate and manage activities with suppliers, including Supplier Risk & Performance Management (SRPM), Source-to-Contract (S2C), and Procure-to-Pay (P2P). Click here to download a copy of the report.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which provide procurement with the tools needed to maximize the value they get from their supplier relationships, automate and streamline processes, and identify opportunities for cost savings.
Furthermore, supplychainresilience continues to be a top priority for businesses, with an emphasis on diversifying sourcing locations and building agile, responsive supply networks. Until next time, keep on optimizing, innovating, and pushing the boundaries of what’s possible in the world of logistics.
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. 4][5] Supplier Portals Enhance Collaboration: Digital supplier portals are now in use across 35% of procurement platforms. How to gain visibility and control of your indirect spend.
Key points to consider: Increased reliance on third-party vendors : Businesses often collaborate with multiple vendors, increasing the potential entry points for cyberattacks. tariffs : Trade tensions and tariffs can disrupt supplychains, leading to vulnerabilities that cybercriminals may exploit. Impact of U.S.
Collaborative efforts between buyers and suppliers, along with better tools, education, and incentives, can help overcome these barriers and foster a more sustainable supplychain. Now it’s dropped back to 2019 levels.” ( Source – The Wall Street Journal, Sept.
The investment will accelerate Arkestros ongoing innovation in AI-powered procurement technology, advancing its mission to help enterprises unlock hidden savings, reduce supplychain risk, and drive operational efficiencyempowering procurement teams to focus on strategic, high-impact initiatives. cost savings on every $1M of spend.
This shift has pushed supplychain leadership to pivot from reactive management to proactive strategy built on data. Analytics-driven leadership encourages cross-functional collaboration. That cultural shift can be difficult, but its where resilience begins. Not sure where your supplychain stands?
This initiative comes at a crucial time when global disruptions have underscored the importance of robust supplychains. By leveraging Dun & Bradstreet’s expertise, companies can proactively identify vulnerabilities, optimize their supplier networks, and strengthen overall supplychainresilience.
The global supplychain is undergoing an incredible transformation that will change the way we do business. Today, organizations are looking to build supplychainresilience and maximize opportunities for growth as we pivot and prepare for unexpected global events. . Session REPLAY. Körber + Ivalua.
Procurement priorities have also become more strategic, as organisations focus on improving supplychainresilience and boosting growth. For many organisations, procurement was crucial to keeping supplies flowing during the pandemic and minimising the impact on profitability.
This move toward digitization not only enhances operational efficiency but also reinforces supplychainresilience , enabling businesses to respond more swiftly and effectively to market shifts, regulatory changes, and future disruptions. Impact of US Auto Tariffs on Global SupplyChains Amid escalating tensions over U.S.
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