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
To round off that perspective we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
Agentic AI takes this a step further by enabling autonomous supplychain systems. They can proactively identify risks, optimize processes in real time, and even negotiate supplier contracts without human oversight. Analyzes supplier performance, market trends, and contract terms.
Life sciences and healthcare: Enhancing supplychainvisibility and compliance For life sciences and healthcare, procurement is a complex dance involving medicines, medical supplies and strategic services spread across a global landscape.
As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier riskmanagement are essential components to maintain stability during crises like these. But building an agile, resilient supplychain doesn’t happen overnight; it requires forethought and planning.
Supplier diversification across geographies to reduce dependency on high-risk sources. Contract rebalancing to shift tariff liability. Building internal alignment across procurement, supplychain, legal and finance to tie sourcing decisions to tariff cost modeling and compliance. That is where technology can help.
Over the coming weeks, our risk series will cover vendors within the following risk categories: Financial Risk & Supplier Risk. SupplyChainRisk. Supplier Management Non-Suites. Supplier Management Suites. ContractRiskManagement. Compliance/CSR Risk.
This involves analyzing spend data, identifying for consolidation, and negotiating better contracts with key suppliers. Demand Management: Work with internal stakeholders to understand their needs and identify opportunities to reduce consumption or find alternative solutions.
Supplier collaboration goes well beyond the sharing of product design documents, extending into initiatives involving product innovation, supplychainvisibility, compliance, target cost programs, demand and capacity planning, and riskmanagement.
Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? What are the pros and cons, and what supplychain strategy will pave the way to higher margins, improved supplychainriskmanagement in healthcare and improved patient care?
In fact, a survey conducted by the Economist Intelligence Unit (EIU) found that 96% of respondents from the Middle East region were reconfiguring their supplychains in October 2020 — much higher than the global average of 83%. What’s more, PwC found that the average investment in riskmanagement among MENA companies was $1.5
Stronger riskmanagement and supplychain resilience Effective collaboration provides greater visibility into potential risks, such as raw material shortages or market disruptions. Riskmanagement collaboration involves working together to identify and mitigate potential risks in the supplychain.
is a leading AI-powered platform specializing in third-party riskmanagement, compliance, and supplier lifecycle automation. AI-First Automation: AI is built into every step, simplifying workflows, automating processes, and delivering real-time insights for compliance, onboarding, KYC/AML, contractmanagement, and ESG initiatives.
However, it’s fair to say that procurement is really in the pressure cooker right now, with all kinds of new and conflicting demands such as ESG, diversity, compliance and riskmanagement. Cash flow is a further driver of cost, so it is worth analyzing contracts to achieve payment term optimization.
This guide delves into the essentials of procurement within the construction sector, discussing various strategies, potential obstacles, supplychain structures, contract types, and managerial aspects necessary for efficient and effective procurement. Common Contract Types: Lump Sum Contracts: Set fee for all work completed.
This guide delves into the essentials of procurement within the construction sector, discussing various strategies, potential obstacles, supplychain structures, contract types, and managerial aspects necessary for efficient and effective procurement. Common Contract Types: Lump Sum Contracts: Set fee for all work completed.
However, the is fraught with risks that can impact a company’s bottom line and operational efficiency. Effective procurement riskmanagement is essential to ensure smooth operations and safeguard the organization’s interests. Understanding these risks is the first step toward effective procurement riskmanagement.
Lieferkettengesetz, and others) encouraging large/enterprise businesses to take responsibility for the entirety of their global supplier networks, increase tier-n compliance and combat poor supplychainvisibility. As covered above, change can be difficult. Doing things differently can be uncomfortable.
Effective role-based training for sourcing managers therefore includes training that sharpens their strategic thinking, supplier assessment, and market analysis skills. Contract negotiators, on the other hand, have a focus on drafting, reviewing, and negotiating contracts. Efficient and streamlined supplychain operations.
The list is presented in the order the responses were received in: 1) Andreas Wieland , Assistant Professor at Copenhagen Business School Successful supplychainmanagement means that organizations are well-orchestrated in an end-to-end value network. delivery reliability”), but is that really “supplychain thinking”?
It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include riskmanagement, compliance management, and due diligence capabilities/functionality. Visibility is necessary to gain control over supplier risk, compliance, performance, contracts and spend.
It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include riskmanagement, compliance management, and due diligence capabilities/functionality. Visibility is necessary to gain control over supplier risk, compliance, performance, contracts and spend.
Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. This involves supplier selection, negotiation, and contractmanagement to ensure timely and cost-effective procurement. It encompasses activities such as procurement, supplier selection, and evaluation.
Here are the top 3 concerns likely to dominate the agenda for CPOs in 2025: SupplyChain Resilience and RiskManagement Sustainability and ESG Compliance SupplyChainVisibility Conclusion: CPOs in 2025 will need to navigate a complex, fast-changing landscape shaped by technology, sustainability, and global uncertainty.
A Gartner deep-dive into this topic advises organizations to: Identify and assess supplychainrisks: Examine both internal and external risks, including those from customers, suppliers, regulators, and other stakeholders. Utilize riskmanagement expertise to understand risk appetite and reporting.
Raindrop has also been recognised as a cloud-enabled procurement focused Contract Lifecycle Management (CLM) application. The software was founded by a group of seasoned procurement professionals who have developed a full-suite spend management platform with two overriding principles: time to value and ease of use.
It’s vital that supplies are predictable, so you can get the products and services you need. 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.
Agentic AI takes this a step further by enabling autonomous supplychain systems. They can proactively identify risks, optimize processes in real time, and even negotiate supplier contracts without human oversight. Big data also plays a crucial role in riskmanagement and disruption prediction.
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