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
Procurement leaders have increasingly turned to Spend and SupplierManagement platforms to improve decision-making, efficiency and collaboration. 393% ROI from process automation, better visibility, and replacing old systems. Reductions in operational overhead and improved supplier engagement. Payback in under 6 months.
Enterprise procurement teams face growing pressure to deliver strategic value – managingsupplier 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.
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. It begins once a supplier has been selected and pricing has been agreed upon.
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. It forms the foundation of digital procurement, enabling better spend visibility, improved compliance, and faster, more efficient operations.
After having opened a new warehouse in Johannesburg - the largest integrated logistics center on the continent - a multi-national FMCG Healthcare company approached DSV South Africa (SA) for services across the end-to-end supply chain. At the time, each unit had its own team operating according to their own systems and processes.
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.
Supplier Relationship Management Software — Everything You Should Know. Supplier relationship management software is a very important factor for procurement managers to strengthen their relationship with their suppliers. However, what is this supplier relationship management software?
This article serves as the executive summary of a six-part series built for finance and procurement leaders aiming to strengthen their organizations cash flow management and liquidity position. Cash flow management is no longer an isolated finance function, it requires end-to-end coordination across teams and systems.
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. Spend is led away from preferred suppliers. Lots of new suppliers added on a regular basis.
However, with the advancement of technology, businesses now have access to software that simplifies and automate the entire order management process. In this article, we will explore what supplier order management software is, its benefits, and some of the best software options available in the market.
Sustainable and socially responsible procurement practices that cover the full spectrum can provide end-to-endvisibility that facilitates monitoring and compliance, and delivers continuous value to the business. Among these practices are supplier identification through sourcing, relationship management, and reporting.
While finance focuses on extending days payable outstanding (DPO) and maintaining liquidity buffers, procurement is driven by supplier relationships, cost reductions and efficiency improvements. When these priorities are not harmonized, misalignments emerge that can weaken cash flow management and working capital optimization.
This meant that implementing one of the full end-to-end spend management suites was not feasible from a cost and change management perspective. That system could tell you, for example, that the company had spent $XX million with a supplier on a particular ingredient or package. It has been a home run.
Supplier Collaboration: Fundamental to Elevating Manufacturing Performance Supplier relationships are at the heart of manufacturing performance. That’s why supplier collaboration—that consistent, trusted, and responsive interaction between supplier and manufacturer—is pivotal to manufacturing success.
In the midst of the Coronavirus pandemic the need for complete, end to end Supply Chain visibility has never been more important! The necessity for visibility started with store shelves being emptied of toilet paper , food, and various household items. Full visibility as to your whereabouts exists and is used every day.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter Inventory Management — Everything You Should Know Inventory management enables companies to ensure that they always have enough stock to fulfill customer orders. What is Inventory Management?
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 managingsupplier relationships.
Managing a successful supply chain requires more than just ensuring products are delivered on time its about building strong, effective partnerships with your suppliers. This software enables companies to create more efficient and transparent relationships with their suppliers, improving the overall performance of their supply chain.
Another CPO pointed to the urgent internal push for greater transparency at the supplier-level mapping and for granular understanding of sub-tier suppliers, component origins and even HS-code-level exposure. Others turn to last-minute supplier switches or price renegotiations. It is not just about knowing your 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. Spend is led away from preferred suppliers. Lots of new suppliers added on a regular basis.
A Guide to Contract Management Tools and Processes including a guide to the key steps of the Contract Lifecycle Management Process and to the benefits that using Contract Management software can bring to your Procurement processes. An Overview of Contract Lifecycle Management. Why is it Important to Manage Contracts?
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 inventory management to logistics and demand forecasting.
Front and center in this revolution are the marriage of customer relationship management (CRM) software and capable e-commerce platforms like Shopify. Enter companies like DigitalSuits, a high-tech Shopify development and e-commerce agency that leverages technology and innovation to build end-to-end solutions.
Contract Lifecycle Management Software — The Ultimate Guide of 2023. Integrating contract lifecycle management software is one of the best ways to manage contracts in a company. In this article, we will discuss what contract lifecycle management software is. This is where contract lifecycle management comes into mind.
Jarrod McAdoo, Senior Product Marketing Manager, Ivalua. Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! Don’t forget about processes to manage data creation and maintenance. That’s significant.
Jarrod McAdoo, Senior Product Marketing Manager, Ivalua. Master supplier data doesn’t just matter to Procurement. Accurate supplier data is the fuel that drives critical business processes that impact the bottom line. Supplier data improvements can reduce these costs and minimize the opportunity for error. Operations.
However, adoption (by teams, by stakeholders, by suppliers) is not a reality for most organizations. Larger organizations likely have matured and updated their tech environment over many years with best-of-breed or suite solutions, so its easier for them to get the organization on board with an end-to-end digital transformation.
This makes it hard for procurement teams to find what they need quickly, and even harder to manage vendors in a smooth, professional way. That is why an increasing number of firms are using Vendor Lifecycle Management Software. What is vendor lifecycle management software?
Everything You Need to Know End-to-end process and end-to-end solution may be one of the most overworked phrases in business and IT. The term refers to the entire journeyfrom finding suppliers and negotiating contracts to finalizing agreements and making the final payment for goods. What is Source to Pay (S2P)?
Contract Management Process — Everything You Should Know. The contract management process is an essential part of the organization to handle contracts with its third parties. For this article, we will talk about what the contract management process is. So without further ado, let’s start uncovering contract management. .
Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. The powerful concept of Supply Chain Visibility lies at the core of resilience. Supply Chain Visibility refers to tracking and monitoring the movement of goods, services, and information throughout the supply chain.
A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority. The Visibility Challenge: Why Seeing Clearly Matters A major insight from the report is the visibility gap, particularly with tier 2 and tier 3 suppliers.
And at the heart of this transformation is the purchase order management system. Without proper purchase controls, budgets spiral, suppliermanagement suffers, and inventory levels become a guessing game. What is Purchase Order Management? How Does Purchase Order Management Work?
Supply Chain Visibility Has Never Been More Important! Supply Chain visibility article and permission to publish here provided by Adam Miglio. Even the most robust ERP systems seem to lack the visibility that organizations are desperate to acquire, and in real-time. Supplier Receipt and acknowledgement ?Supplier
This approach to taking your business to the next level often involves end-to-end (E2E) processes to deliver solutions. What is an end-to-end process? The end-to-end philosophy emphasizes eliminating middle layers and steps to increase efficiency, performance, and cost savings.
How does “visualizing spending, benchmarking suppliers, and maximizing profits” impact the following areas individually and collectively? To what degree does a breakdown or inefficiency at one point have a ripple effect through the other E2E touchpoints? Here are five critical “touchpoints” in the supply chain.
Prompted by a question I had received from one of my readers regarding the impact of an M&A on procurement, and in particular the departments relationship with suppliers, I thought that I would share the following with you. The lack of end-to-end connectivity delayed efforts to streamline operations across its growing portfolio.
At some point, there was a need for this, a solicitation process to select a supplier, a competitive bidding process, a contract negotiation, transactions and so on. Reduction of Risk: Enable better risk and compliance management by enabling proactive mitigation and real-time monitoring with vendors.
Vendor Management Best Practices — The Ultimate Guide of 2022. Vendor management best practices are utilized to boost business growth and productivity. For this article, we will discuss what the best practices in vendor management are. We will also share the benefits of vendor management that will captivate you to use it. .
Compliance and risk management is a growing and interesting use case of GenAI for procurement, finance and, of course, legal operations. Its uptake is only going to grow as organizations begin to rely on its power to tackle big business issues, such as third-party risk management (TPRM). 20 years ago, risk management was way simpler.
We will tell you how it works and how you can manage it. Additionally, we will discuss the three processes of financial supply chain management. It optimizes the cash flow that enables the business to lengthen its payment terms to its suppliers while providing an option for when a supplier will be paid.
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. Thus, this will enable you to implement it in your supply chain. What is Integrated Logistics?
Supplier Relationships – Don’t go over to the Dark Side! Shortly after I joined the Commodity/Category Management Procurement organization I was invited to attend the annual Strategic Supplier Awards event. There were Executives from dozens of Suppliers in attendance. Subscribe to Supply Chain Game Changer.
PME is not only an opportunity to warm up the market but also ensuring that any issued RFP can be met, specifications and conditions are fit for purpose and the opportunity to add innovation into the procurement and Contract and Suppliermanagement process.” Here’s how: 1. HACCP, FSMA, GFSI).
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