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Procurement and supplychain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
Modern platforms unify the entire Source-to-Pay lifecycle, offering real-timevisibility, integrated compliance controls, and advanced analytics across sourcing, contracts, and payments. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Subscribe to SupplyChain Game Changer. SupplyChainVisibility Has Never Been More Important! SupplyChainvisibility article and permission to publish here provided by Adam Miglio. And the limitations in supplychainvisibility seem to start right here. Subscribe Here!
Subscribe to SupplyChain Game Changer. SupplyChainVisibility – An Overcomplicated Challenge! A recent Deloitte survey estimated only 15% of CPO’s have visibility beyond their tier one suppliers. I found this striking that there is so little multi-tier SupplyChainvisibility.
Primarily, our customers are prioritising supplychainvisibility, adopting proactive risk management strategies and staying compliant with evolving regulations. Platforms primarily support risk assessments and due diligence during onboarding but lack an ongoing risk assessment or continuous oversight post-contract.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. Supplychains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurement teams must sift through is overwhelming. Procurement is at a crossroads.
So, how much supplychainvisibility is “too much visibility” in relation to what happens at some unseen point down the chain? ” When does your visibility and corresponding responsibility start, and at what point does it end? – [link] Is It A All or Nothing Proposition?
For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses. Evaluating mitigation options , including: Advanced purchasing or inventory building to front-run tariffs. Contract rebalancing to shift tariff liability.
Supplychain disruptions whether from geopolitical shifts, weather events or logistical breakdowns are nearly impossible for humans to predict alone. Thats where AI steps in, offering a proactive approach to predicting supplier lead times and optimizing demand forecasts for buyers.
Agentic AI takes this a step further by enabling autonomous supplychain systems. They can proactively identify risks, optimize processes in realtime, and even negotiate supplier contracts without human oversight. Analyzes supplier performance, market trends, and contract terms.
In a 4PL model, the external provider (also known as the lead logistics provider or LLP) manages and coordinates all aspects of the supplychain , including transportation, warehousing, inventory management, and distribution. 4PL providers usually offer more strategic insight and management over the company’s supplychain.
Today I’m joined by forward-thinking tech company Beacon Technologies – a brand that says, when it comes to supplychain, they believe in power to the people! Beacon’s supplychainvisibility platform is a central hub for real-time ocean and air freight tracking, supplychain performance analytics and carbon emissions reporting.
This involves analyzing spend data, identifying for consolidation, and negotiating better contracts with key suppliers. Leveraging Technology: Implement procurement software and analytics tools to gain better visibility into spending patterns , identify areas of inefficiency, and automate processes.
Additionally, a purpose-built solution will enable you to measure and monitor buyer adherence to compliance purchasing, ensuring your team is taking advantage of preferred items and reaping the rewards of the contracts you have in place. It seems that the era of best-in-class supplychain solutions has arrived.
Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supplychain. Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more.
Understanding SupplyChain Risks Economic downturns act as stress tests for supplychains, exposing vulnerabilities that may have gone unnoticed during stable times. Maintaining robust cash reserves is paramount for navigating these turbulent times. An excellent example of optimizing inventory is Zara.
Managing a successful supplychain requires more than just ensuring products are delivered on time its about building strong, effective partnerships with your suppliers. Supplier collaboration is essential for optimizing supplychain performance and achieving long-term business success.
EPISODE 137 Using Visibility to Combat SupplyChain Abstraction with Frank Kenney By Kelly Barner | October 18, 2023 In the race to build global empires of data and digital systems, today’s businesses must not risk forgetting what all of those zeroes and ones mean.
Data is central to successful digital transformation to relay real-time information and greater visibility into operations and resource allocation. Dramatic supply and demand shifts during the pandemic prioritized the need for data accuracy to solve short and long term supplychain challenges.
While 2022 might bring some relief from constant record-setting spot prices, supplychain executives need to brace for continued high costs in an inflationary period. Cost-saving initiatives will become paramount, such as investments in TMS platforms, contract negotiation, and strategic load and route planning.
[Read More: ERP Master Data: A Guide to Improve Quality & Governance ] Role of Data Analysis through Barcode Scanning and Point-of-Sale Systems Data analysis is at the core of Walmart’s supplychain prowess.
As a result, businesses can optimize their logistics processes using Orchestration and save time and resources. This technology allows businesses to monitor their supplychain from order placement to final delivery in real-time. Automation eliminates manual intervention, reduces errors, and saves time and money.
Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. Efficient transportation systems minimize delays, reduce costs, and ensure timely delivery to customers. This involves supplier selection, negotiation, and contract management to ensure timely and cost-effective procurement.
AI-First Automation: AI is built into every step, simplifying workflows, automating processes, and delivering real-time insights for compliance, onboarding, KYC/AML, contract management, and ESG initiatives. SAP GRC Real-time GRC and risk management for SAP-centric organizations.
Yet it is managed by one or two people, with no support, and no visibility from upper management. Supplychainvisibility is also incredibly important these days. You can not get this visibility without a plan. And you need suppliers who can provide visibility through electronic connectivity.
Our outdated manual methods were wasting a lot of time and money, which we attempted to solve by subscribing to a transportation management solution; however, we were sorely let down by the lack of customization. We support 300+ carriers and integrations, with real-time updates for all modes and carriers – a game-changing endeavor!
We’ll list some examples of inventory risks below, but generally speaking, inventory risk cost can be assessed as the probability of any event occurring which can damage or cause you to lose your investment in that inventory, coupled with the total value of potential lost goods. Examples of inventory carrying costs.
Multi-functional technology enables you to train anywhere at any time, while ever-learning programming allows you to experiment and practice to achieve different outcomes. LavenirAI allows you to train anywhere, any time, so you can stay at the top of your game. The platform also offers supply and risk management insights.
They say that, like truth, good ideas stand the test of time. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23.
Contract negotiators, on the other hand, have a focus on drafting, reviewing, and negotiating contracts. Their main objective is to ensure that supplier contracts align with the business’s objectives and protect its interests at all times. For instance – improved communication skills or legal contract knowledge.
Your business could struggle to achieve visibility of its global supplychain. Without good visibility, maximising the benefits from global sourcing is impossible, as it is impossible to track exactly how much is being spent. Do you have visibility of a global supplychain?
Key elements include diversified sourcing, real-timevisibility, strategic inventory management, and the ability to quickly respond to disruptions. Companies that had invested in semiconductor supplychain resilience were able to maintain production and avoid costly delays.
This exciting trend persuaded us that it’s about time we featured an article on these procurement tools specifically. It ensures they know in realtime, with push notifications in one platform, all about the latest status of delivery times, any quantity discrepancies and logistical challenges.
2) Real-timevisibility is extremely valuable during times of crisis! In the supplychain, visibility involves status reporting from suppliers, through the production&distribution infrastructure and all the way down to the shelf level. This one builds on the visibility level.
Supply base optimization is a strategy used to reduce the number of suppliers you work with, especially those who are inactive or limited-use suppliers. This way, organizations can spend more time with fewer suppliers. . 6 steps for successful supply base optimization. Current inventory. Supply performance ratings .
2) Real-timevisibility is extremely valuable during times of crisis! In the supplychain, visibility involves status reporting from suppliers, through the production&distribution infrastructure and all the way down to the shelf level. This one builds on the visibility level.
Whether you are focused on controlled growth or cost efficiencies, the ability to measure what is occurring in realtime is essential to making decisions. The supplychain may contain components of raw materials, manufacturers, wholesalers, distributors, resellers, agents, logistics, retailers and many other entities.
After a career as CEO, COO, President and Division Head of leading supplychain, manufacturing support, and after-market service organizations, he helps companies assess what they have, determine what they need, and decide what to do. My start in supplychain was a bit unknowing at the time.
The idea of a virtual, distributed ledger that can serve as an indelible system of record for any number of business transactions between supply-chain partners — well, it’s irresistible. Who wouldn’t want a means of propagating key contract terms and payments, and making certain that they’re accurate and honored?
To address supplier challenges, you must ensure your preferred providers can meet your changing needs and that you have a diverse supply base. SupplyChainVisibility. Supplychainvisibility is another critical issue. Predictive Procurement Supports SupplyChain Resilience and Visibility.
This blog post delves into the top 9 logistics trends that industry professionals should monitor closely in 2025, drawing upon insights from leading organizations such as DHL and Gartner, alongside illustrative real-world applications. This leads to a tangible reduction in fuel consumption and a marked improvement in delivery times.
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