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
In this post, we’ll break down proven strategies to help you streamline processes, improve visibility, and take back control of your procurement stack. Modern procurement automation software helps companies to streamline repetitive tasks, improve cross-team collaboration, and improve visibility across every stage of the buying cycle.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Solution: Automate end-to-end processes. Pain-Point: Manage supplier risk and visibility.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.
Supplier diversification across geographies to reduce dependency on high-risk sources. Building internal alignment across procurement, supply chain, legal and finance to tie sourcing decisions to tariff cost modeling and compliance. This makes visibility the cornerstone of any viable tariff management strategy.
Supply chain disruptions whether from geopolitical shifts, weather events or logistical breakdowns are nearly impossible for humans to predict alone. AIs role isnt just confined to drug discovery, its also revolutionizing real-time market insights for sourcing critical compounds and navigating the intricate web of suppliers.
At Ivalua, we’ve seen how a Procure-to-Pay business process ensures sustained benefits through good buying practices, improves visibility and swifter issue resolution, and enables proactive management of suppliers. Solution: Automate end-to-end processes. Pain-Point: Manage supplier risk and visibility.
Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. Supply Chain Resilience refers to a supply chain’s ability to withstand and recover from unexpected events. The powerful concept of Supply Chain Visibility lies at the core of resilience.
This resilience can be defined as “ the ability of a central procurement and supply management function to prepare for unexpected events, respond to disruptions, recover, and emerge even stronger. ” Manufacturers cannot foresee every risk, inconvenience, or disaster, but they can equip themselves to handle the unexpected and come out on top.
One of the best use cases for AIOps is strengthening end-to-end system resilience by consolidating data from multiple sources and correlating events into incidents.
ANSWER #1 AdaptOne could provide significant value to Byrne Dairy , a food and beverage company, by optimizing and digitizing its procurement operations particularly in supplier management , compliance tracking , and procurement workflow visibility. Here’s how: 1.
Far more than “1+1=2”, it’s a combination of the best Source-to-Pay solution with the market leading dynamic discounting environment, joint customers will be able to capture higher yields from their early payment programs turning them into a strategic revenue stream that grows the bottom-line via the C2FO marketplace. .
Having the complete source-to-pay journey within the Ivalua Platform will help our customers build stronger, reliable supplier relationships”, said David Khuat-Duy, Founder and CEO of Ivalua. The high-level benefit of embedding the TransferMate payment solution within the Ivalua Source to Pay journey is that supply chains can become stronger.
Here are three reasons why logistics management software like TMS, YMS Freight Audit and others is essential to the survival of business during events like global pandemic. So how does logistics management software prepare shippers to accommodate any business environment – even those that materialize in the wake of unexpected events?
In short, demand latency has increased because supply chains have become more fragmented, buffered, and risk-averse while real consumer demand has grown more volatile and less visible to upstream partners. What are the challenges and where do they arise from sourcing through manufacturing and delivery?
For sourcing teams, that means pivoting their mindset around selecting suppliers from a tactical, lowest-cost-above-all approach to a strategic one. Where tactical sourcing is a short-term strategy, strategic sourcing is for long-term business goals. And from that group, 71% would pay a premium for it.
AdaptOne could provide significant value to Byrne Dairy , a food and beverage company, by optimizing and digitizing its procurement operations particularly in supplier management , compliance tracking , and procurement workflow visibility. Here’s how: 1. We aim to improve supplier onboarding, ensure regulatory compliance (e.g.,
Intake can support payments, sourcing, supplier onboarding, contracts and other use cases. Intake solutions give users a single point of entry as well as more visibility into what happens with requests and when. and a unified source of truth that fit into an existing tech stack.” “The A more proactive approach. Get educated.
It’s a good time to reflect on recent global events and what this should mean for the future. Supply Chain and it’s importance is more visible than at any time in history. If we just go back to the “Just-in-Time” model as it was, some future disruptive event will again rupture this Supply Chain.
Contract management, also known as contract lifecycle management, in the field of procurement refers to the handling of end-to-end contracting with the suppliers and other third parties of an organization. . Enhancing strategic sourcing through data analysis. Enhanced contract visibility. What is Contract Management?
Over time, this engagement has expanded globally and is still focused on one of the most testing categories of sourcing and contract management within procurement: transport and logistics. In 2019 the company decided to embark on a project to implement global dashboards for sourcing and contracting events.
First-class OpenTelemetry support Full-stack observability demands thorough visibility and comprehension. OpenTelemetry serves as an indispensable tool for achieving comprehensive visibility, facilitating streamlined practices with common instrumentation, portable formats and interoperable pipelines. Ansible®, PagerDuty, etc.).
Spend Matters constantly updates its understanding of the state of the procurement tech market via RFIs for our SolutionMap dataset, vendor interviews, global event attendance and product demos with the aim of keeping tech-selection decision makers ahead of market trends. A recurring request is to reduce risk and contain costs.
Advantage Source-to-Pay(S2P). The Source-to-Pay(S2P) process begins with identifying and evaluating relevant suppliers, contracting with those suppliers, placing orders, monitoring the supply of the ordered products and services, authorization, and the final release of payment. Learn More: Zycus Source to Pay Suite.
Once we get past this pandemic there will be many lessons learned and people will be looking for how to strengthen Supply Chains to withstand any future such events. Enabled by real time end to end electronic connectivity at all levels a Digital Supply Chain can support a Don’t Touch paradigm. Conclusion.
Stronger risk management and supply chain resilience Effective collaboration provides greater visibility into potential risks, such as raw material shortages or market disruptions. This may involve sharing best practices for reducing waste, sourcing materials responsibly, and improving energy efficiency.
Supply chain processes include procurement from source to pay, together with inbound logistics, production, quality control, outbound logistics and post-sales service. Direct material management oversees the sourcing, procurement, storage, and flow of raw materials, components, and subassemblies.
Orchestration : Beyond the technical aspects, how does the system handle data harmonization, task handover and visibility, and automation? This is where intake and orchestration start to overlap with source-to-pay (S2P). Early involvement can increase total sourcing savings by 5%-10%.
Every move, every transaction, every image, every event and every location in everyone’s lives are recorded. The sources of data are vast and ever increasing which contributes to the increased volumes of data. doesn’t reside in a database) data sources all contribute to the amount of Big Data. How Big is Big Data?
The list of challenges is long: cloud attack surface sprawl, complex application environments, information overload from disparate tools, noise from false positives and low-risk events, just to name a few. Greater visibility and speed are core requirements for effective cybersecurity. See some common sources in the screenshot below.
Why supply chain management matters Supply chain management involves coordinating and managing all the activities involved in sourcing , procurement, conversion and logistics. By developing contingency plans and resilient supply chains, companies can continue to operate even when unexpected events occur.
Strategy —Goal setting and determining what a successful event look like and then modifying plans in order to improve the experience. Planning —Creating detailed plans for executing the event. Devising a budget and planning out logistics, headcount, sourcing, and estimating. The same is true in procurement.
The goal is to reduce these events and their impact, reduce the time to resolution, and increase the speed of recovery. With that leadership and sponsorship organizations will get to spend the time on a slew of activities that will strengthen their Supply Chains in advance of the next impending disaster. just in time) Supply Chains faltered.
The pain, stress and pressure that they have experienced from similar prior events makes anyone fearful of having to go through it again. Dual sourcing can split demand amongst multiple suppliers resulting in higher unit pricing and higher logistics costs.
Strategic Fit: Amex aimed to build an end-to-end B2B platform (Anna Marrs, Amex), enhancing its supplier-side offerings beyond card issuance. Why You Missed It: If your focus is on strategic sourcing, supplier collaboration, or niche innovations (e.g., Its marketing leans on fintech events (e.g., Nipendo pre-Amex).
Here are 5 reasons why spreadsheets are not the best alternative as a supply chain planning tool anymore : 1) Lack of end-to-endvisibility to the overall supply chain. This gets in the way of having end-to-endvisibility to the overall workflow. 2) Lack of access to real time data.
Here are 5 reasons why spreadsheets are not the best alternative as a supply chain planning tool anymore : 1) Lack of end-to-endvisibility to the overall supply chain. This gets in the way of having end-to-endvisibility to the overall workflow. 2) Lack of access to real time data.
When your sourcing team chooses what to buy and who to buy from, are you selecting vendors who share the same social values as your brand? Supply chain sustainability is defined as embedding environmental, social or corporate governance considerations as raw materials are sourced, converted to products and delivered to market.
These technologies can examine huge portions of data from multiple sources, and recognize patterns and tendencies that would be impossible for humans to discern. The amplified visibility lets companies verify the authenticity and provenance of products, reduces the risk of counterfeiting, and helps ensure regulatory compliance.
Shortly after I joined the Commodity/Category Management Procurement organization I was invited to attend the annual Strategic Supplier Awards event. The event concluded with award recognition given to Suppliers based on their scoring and standing as being of Strategic value to the company. Strategic Suppliers are the best of the best.
It has made visible changes in the SCM systems. This empowers all partners to follow the excursion of items from the source to the end client progressively, upgrading responsibility and lessening the gamble of misrepresentation or fake products. This new era is expected to explore new horizons in supply chain management.
Spend Analytics solutions provide a single view into all historic, current and planned supplier spending in order to improve that spending through better sourcing, compliance and demand management. The top vendors extend the analytics schema to also support predictive data analysis, AI/ML models or real-time visibility across many systems.
The dynamic, open-source , microservices-based configuration of Kubernetes can be a great fit for businesses that are looking to maximize infrastructure agility. In DevOps , the concept of observability has evolved to refer to the end-to-endvisibility of a system state as dictated by telemetry data.
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