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Procurement and supply chain 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.
Rising software costs, lack of procurement oversight, compliance headaches, and clunky vendor management. In this post, we’ll break down proven strategies to help you streamline processes, improve visibility, and take back control of your procurement stack. Sound familiar? If you’ve been feeling the pressure, you’re not the only one.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. Key Takeaways Legacy procurement processes limit scale, speed, and visibility, making it harder to manage risk, compliance, and costs.
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we spoke with Nick Francis, Chief Technology and Marketing Officer (CTMO) at Commercial Value Management specialist Brooklyn Solutions.
This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive risk management, and deeper integration across the supply chain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Redwood City, CA, July 13, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its Procure-to-Pay solution with a new Inventory Collaboration capability. Ivalua is a leading provider of cloud-based Spend Management solutions. About Ivalua. Learn more at www.ivalua.com.
Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. 393% ROI from process automation, better visibility, and replacing old systems. NPV generated over three years for a typical organization. What is Total Economic Impact?
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we asked Austin Fuller, Director, Product Marketing at supply chain risk management specialist Exiger Have you witnessed a significant change of appetite for risk-related tech over recent years from your customer base?
Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. One of the most effective strategies for building resilience is integrating project management into supply chain operations. A well-managed supply chain does not just survive crises it thrives in them.
Complex processes demand ever faster response times and decisions across the entire supply chain. The concept of real-time IT is becoming a key theme, especially in the business sector of…
their new real-time optimization tool, stocktitan, aims to revolutionize the way businesses navigate disruptions and ensure seamless operations. let’s delve into the world of AI in supply chain management and explore the potential of Logility’s game-changing innovation.
The modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Procurement teams are spread thin and have to manage everything from basic sourcing to board-level ESG compliance. From there, workflows adapt in realtime.
Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. What is Procurement? What Does Procurement and Purchasing Mean for Enterprises?
Ruth Orenstein , Senior Director of Product Management at global finance automation specialist, Tipalti, shares what their customers are looking for from their digital procurement investment. Approval lead time is another important metric. Lastly, customers measure annual dollar savings to demonstrate tangible financial returns.
From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. AI also enhances supplier profile management, enriching, verifying and completing supplier data to provide a more comprehensive view of risks and opportunities.
Heres where e-procurement processes often break down: Fragmented catalog and supplier management: Inconsistent supplier onboarding and unstructured catalogs result in pricing discrepancies and procurement delays. Approval workflow bottlenecks: Manual approvals cause delays, increasing cycle times and reducing procurement efficiency.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter InventoryManagement — Everything You Should Know Inventorymanagement enables companies to ensure that they always have enough stock to fulfill customer orders. However, what is it?
By the time I have finished writing this article, and certainly before it is published, the situation will have changed. One is reminded of the Chinese proverb, Better to be a dog in times of tranquility than a human in times of chaos. We need to rewrite these systems and introduce new taxonomies to manage hyper-variability.
Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?
Manually managing processes no longer keeps up with todays business demandsand thats where AI-powered solutions step into the spotlight. Lets dive deeper into how integrated service management can help your company grow. Service Management Is EvolvingIs Your Operation Keeping Up?
Supply disruptions and market dynamics impacted many companies because they had limited visibility into their supply chains, no structured risk management programs and inadequate mechanisms to monitor markets.
Supply chain reports are data-driven documents that provide key metrics and insights into various aspects of your supply chain, including: Inventory Levels Tracking stock levels in real-time to ensure adequate inventory to meet demand while minimizing holding costs.
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without the right tools, procurements contributions to financial strategy can remain disconnected from budgeting, forecasting and risk management.
However,as the global air cargo industry faces unprecedented challenges,a critical question emerges: is the booming demand for cross-border e-commerce air cargo at risk? This could result in a decrease in demand for air cargo services as companies look for more cost-effective transportation options.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. big data) in realtime, spotting correlations and trends that would otherwise go unnoticed. Optical character recognition (OCR) digitizes invoices and contracts, eliminating time-consuming manual data entry.
From extraction and processing to distribution and end use, managing the flow of resources like oil and gas requires more than logistical coordination; it demands financial precision, strategic foresight, and real-time adaptability. Key insight for finance professionals: Supply chain complexity is more than logistics.
Each function’s objectives often overlap, particularly in areas such as financial reporting, cost management, budgeting and data-driven decision making, so when procurement strategies align with finance-led initiatives, organizations gain greater financial visibility, improved efficiency and stronger risk control.
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. Ivalua’s Contract Management module allows you to easily track milestones and consumption in realtime across multiple agreements.
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. Halo Ai addresses this need with an innovative, AI-driven approach to third-party risk management rooted in risk intelligence. What are Halo Ai’s greatest strengths?
Introduction A quickbooks barcode scanner transforms how small and medium-sized businesses handle their inventorymanagement, bridging the gap between physical products and digital records. Modern retail and eCommerce operations demand precise tracking of products across multiple locations.
Join us as we delve into the unfolding drama of this new era, where supply chains are tested to their limits and demand forecasting becomes an ever more elusive pursuit. The uncertain trade surroundings is causing disruptions in the supply and demand dynamics,leading to challenges for manufacturers and suppliers alike.
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. This makes visibility the cornerstone of any viable tariff management strategy. Tactics may defer impact, but they rarely provide stability.
Introduction Modern warehouse operations demand efficiency, accuracy, and speed – qualities that make pick and pack processes absolutely essential for business success. Modern barcode-driven systems eliminate manual data entry, reduce picking errors, and provide real-timevisibility into warehouse operations.
Today Tom Burke, Portfolio Product Manager at CargoWise Landside, joins me to talk all about how drayage rating and quoting best practices can improve supply chain management, visibility, and logistics execution. In 2021, these companies where acquired by Envase Technologies, which was later acquired by WiseTech Global.
With international commerce increasingly digitalized and customer requirements continuing to grow, the demands on supply chain professionals to create frictionless, responsive, and cost-effective operations have never been higher. Supercharge your supply chain career through the SCMDOJO Supply Chain Learning Track Certification!
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In this blog post, we will explain why ITSM Tools are the ideal choice to transform IT management. ITSM stands for IT Service Management. Why Your IT Operation Needs an ITSM Tool Modern IT managementdemands speed, visibility, and scalability. What is an ITSM Tool and How Does It Work?
In today's fast-paced business environment, the difference between thriving and struggling often comes down to how effectively a company manages its order fulfillment process. The Flow of Order Picking When a customer places an order, the information flows from the ecommerce platform into the warehouse management system.
This leap in AI capabilities is revolutionizing industries, and AI-driven supply chain management is no exception. The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventorymanagement to logistics and demand forecasting.
Modern procurement needs have far surpassed transaction management; procurement is now a critical component in driving strategic value across businesses and AI has become a key tool in procurement teams back pockets. This means better compliance, fewer disruptions and greater efficiency in managing supplier relationships.
Integrated logistics, also known as integrated supply chain management, refers to the coordinated and seamless management of all the activities involved in the movement and storage of goods and materials. Efficiency in inventorymanagement By integrating the different operations, inventorymanagement can be significantly improved.
These disruptions can occur due to decreased consumer demand, supplier instability, or logistical challenges. An adaptable supply chain can quickly adjust to changes in demand, supply, or other external conditions. This makes demand patterns difficult to forecast, particularly for non-essential goods.
With the increasing demand for faster and streamlined transportation of goods, companies are leveraging AI to automate processes and optimize their operations. AI in logistics refers to the use of AI-powered solutions to optimize supply chain management, improve decision-making and enhance customer experience.
As we delve into planning for success in 2024, it becomes clear that an often-overlooked aspect demands our attention: the returns process. This blog explores the strategic importance of returns and inventorymanagement, illustrating how strategic returns can drive business success in the dynamic ecommerce environment.
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