Remove Contract management Remove Innovation Remove Risk management Remove Supply chain resilience
article thumbnail

Ivalua Recognized as A Leader in Supplier Value Management Platforms, Q1 2022 report

ivalua

Having a complete view of all activities across the Source-to-Pay process is paramount to building effective and resilient supplier relationships. Further, suppliers play a pivotal role in innovation, ESG, risk management, quality, supply continuity, and many other critical organizational functions. About Ivalua.

Suppliers 130
article thumbnail

Innovative Procurement Models: Exploring Different Approaches

Empowering CPO

But before we venture into the depths of innovation in this field, let’s first establish what procurement really is. It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Introduction A.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Procurement 101: Your Essential Guide to Strategic Sourcing

World of Procurement blog

Sources innovation by engaging suppliers in new product/service development. What are the company's goals for growth, cost reduction, sustainability, innovation etc? Supplier Relationship Management Your suppliers are partners in delivering value. This makes it easier to resolve problems, drive innovation, and create win-wins.

article thumbnail

The Key Benefits of Outsourcing to Managed Procurement Services

Empowering CPO

Procurement is no longer just about sourcing goods and services; it’s about creating strategic alliances, driving innovation, and adding value to the organization. This is where the concept of managed procurement services comes into play. The role of procurement services in businesses is multifaceted.

article thumbnail

5 Big Ideas for CPOs in Europe to Develop Procurement Strategies for 2023

Zycus Cognitive Procurement

Procurement professionals who can define, execute and implement strategic planning processes are required for resilient and innovative procurement functions. As per Zycus’ Pulse of Procurement Survey, risk management was the top procurement priority for CPOs in 2022.

article thumbnail

The Hitchhiker’s Guide to Digital Procurement!

Supply Chain Game Changer

When I hear the word startup I think instantly of tech, innovation, market expansion, disruption, new products, and exciting opportunity. What I’m getting at is… don’t be afraid to be an early adopter or co-innovator. So, with these statistics in mind, would you say that working w/ a startup is too big of a risk…?

article thumbnail

Risk Management in Procurement: Strategies and Tools for Success

Empowering CPO

Importance of Risk Management in Procurement Procurement plays a critical role in the success of any organization, as it involves acquiring goods and services necessary for business operations. Finally, we will provide practical tips for incorporating risk management best practices into your organization’s procurement process.