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Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.
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.
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?
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.
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. Solution: Automate end-to-end processes. Pain-Point: Manage supplier risk and visibility.
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?
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.
Future-proofing supply chains to manage risk, boost real-time visibility, enhance sustainability, deploy AI effectively, and promote end-to-end collaboration is critical. The global economy is slowly recovering, but volatility remains a constant. Tick-tock…
Sustainable Procurement Maintain high profitability while moving toward sustainability 4. However, with the advancement of technology, businesses now have access to software that simplifies and automate the entire order management process. Supplier Order Management Software: What it is?
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. 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.
Your customers, employees and shareholders want to know you have a plan to address supply chain sustainability. 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.
Discover Ways to Boost Supply Chain Visibility through Digital Marketing Supply chain visibility is essential for providing a superior customer experience and sustaining customer loyalty over time. Customers face significant frustrations that erode brand trust and sales without supply chain visibility.
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. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.
To what degree does a breakdown or inefficiency at one point have a ripple effect through the other E2E touchpoints? So, how much supply chain visibility is “too much visibility” in relation to what happens at some unseen point down the chain?
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. That said, many organizations, including large enterprises, may not think in terms of source to pay as an end-to-end process, if they think about it at all. the public sector).
The more sustainable path lies in structured action planning. As Spend Matters explored in its series on tariff management , a comprehensive response framework typically includes: Assessing exposure across your supplier base and bills of materials, down to parts, origin countries and HS codes. That is where technology can help.
Howard Yu , The International Institute for Management Development (IMD) ProcureTech Implementation Success Score What Does Multi-Department AI Success Look Like For The Above-Listed Companies? The complexity of end-to-end integration could hinder progress compared to the more immediate gains from consumer AI.
Today, Kristin Kay, Senior Design Lead at Manhattan Associates, will be talking all about Manhattan’s Active Transportation Management solution. Guest bio: Kristin Kay is a Design Lead at Manhattan Associates, specializing in the Transportation Lifecycle Management suite. It really comes down to the end user experience.
By prioritizing robust security measures and compliance protocols, TecPlata ensures the integrity of the supply chain from end to end. Through the deployment of advanced technologies, such as blockchain and IoT devices, TecPlata guarantees end-to-endvisibility and traceability, fostering trust and reliability among stakeholders.
Working within a resilient global supply chain results in complexities around basic matters like communication, time zones and languages, along with more challenging aspects like risk management, compliance and sustainability. Third-party risk management through a specialized vendor moves beyond the onboarding and intake process.
This shift has pushed supply chain leadership to pivot from reactive management to proactive strategy built on data. The curriculum prepares professionals to interpret data, apply insights, and manage transformation across logistics, procurement, and operations. Organizations must anticipate risk, adapt faster, and recover smarter.
Viparis has chosen Ivalua and CKS to equip its Procurement department with a software suite that meets the challenges of an exceptional deadline for the 2024 Olympic Games in Paris and will help sustain the Group’s growth. With Ivalua, we benefit from a fully integrated, end-to-end process that meets this goal perfectly.
Sustainable Procurement Maintain high profitability while moving toward sustainability 4. By the end of this article, you will have an idea of the importance of procurement tracking in your business and which procurement tracking software you would want to utilize. What is Procurement Tracking?
Join us on a journey to discover the strategies and principles that propel businesses toward a more secure and sustainable future. This includes: Implementing end-to-end encryption to secure data in transit and at rest. Utilizing privileged access management to restrict access to critical systems and data.
One area of significant potential that is often overlooked is tail spend management. Historically, a lack of dedicated tools and/or a concentrated focus of investments on strategic spend categories have deterred procurement teams from developing effective solutions to manage the tail.
As any supply chain professional will tell you, managing various day-to-day operations and keeping track of everything going on in the supply chain are among the most difficult parts of the job. Why is visibility so important? Reduced costs Ultimately, visibility boils down into long-term operational efficiency.
They consider factors—like supplier performance or sustainability —that support long-term partnerships, advance business needs and increase purchasing power. Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits.
To get this right, you should have an efficient contract management tool to manage carriers better. Visibility gaps for customers When you’re unable to provide speedy and predictable deliveries along with real-time alerts on the delivery process, customers abandon shopping with you.
In today’s complex global business environment, effective supply chain management (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supply chain management and meet their business goals.
Visibility. Visibility into other key inventory (e.g., Automate to ensure consistent service levels Without real-time demand sensing combined with visibility into performance across supplier networks, increasing grid/energy demands for consumers and growing communities can lead to product excess or shortages.
Just 1% of respondents to a poll Procurement Leaders conducted at the World Procurement Congress said they have “excellent” multi-tier visibility of the supply base. Which leaves 28% of those who responded admitting that the visibility they have is “not great” and, at best, goes as far as Tier-1. This is surprising.
AdaptOne Overview: A supplier management platform focused on diversity, risk, and compliance, often integrated with S2P suites like Coupa or SAP Ariba. Tech Modernization: Automates 70-80% of P2P tasks, cutting $15K-$400K in legacy waste and enhancing visibility across Chevrons operations. QMS Mobile) to simplify complex systems.
. Automotive supply chain facts Up to 50 percent of unscheduled downtime is due to a lack of spare parts or stockouts ( The Importance of Inventory Optimization in MRO, July 2015 , Aberdeen Group) Generally, 99% of [semiconductor] manufacturing foundries have no visibility where the part is going. Why is this happening?
Supply chain management typically does not fit very well with procurement, which is a challenge at the best of times, and can be a disaster in difficult times. We need to rewrite these systems and introduce new taxonomies to manage hyper-variability. And insight is what we got, in spades. Our thinking is still siloed.
At the forefront of these changes are new technologies which will impact supply chain management in the future. The impending changes include connected, end-to-end, value chains, and more intelligent, automated, and autonomous distribution systems. The Future Roadmap of Intelligent Supply Chain Technologies: 2021 and Beyond.
Nowadays, Procurement practitioners primarily talk about emerging topics like the reduction of scope 3 emissions, supplier-enabled innovation and supply risk management. Many large organizations implement a Procure to Pay platform with the aim to deliver efficiency, visibility, simplicity, and compliance.
Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills? The primary goals of SRM are to foster hand-in-glove supplier relationships, manage risk, and optimize the value chain.
AI can help create greater efficiency and value across all source-to-pay processes, including spend analysis, opportunity identification, sourcing and contract management, category management, supply relationship management and risk management.
However, a few pioneering solutions began to emerge, laying the groundwork for future advancements: American Management Systems (AMS) Procurement Desktop-Defense (PD) : Overview : AMS developed PD as part of the U.S. Significance : GEAC’s systems were among the early adopters of integrating procurement with financial management.
Leverage new technologies (machine learning, AI, IoT) for visibility across the end-to-end supply chain. Enact sustainability practices throughout the delivery process.
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 could include co-developing new products, sharing market insights, or aligning on sustainability goals. has an important role to play.
Supply chain management (SCM) is the broad range of activities required to plan, control and execute a manufactured products supply chain from materials to production to distribution in the most economical way possible. The rise of supply chain management as a distinct function reflected a more integrated approach to operations management.
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