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 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 is Purchasing?
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than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems.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.
Key Takeaways Total Economic Impact (TEI) is a Forrester framework to evaluate the costs, benefits, and risks of specific technology investments based on actual results delivered across a vendor’s customers. TEI helps organizations measure ROI, NPV, and efficiency gains from implementing solutions like Ivalua’s Source-to-Pay (S2P) platform.
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.
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? Significance and Benefits of SRM Software.
Orbital Insight Inc, a geospatial software and analytics company, released its SupplyChain Intelligence solution to help organizations better understand their multi-tier supplychains, respond to disruptions, get competitive intelligence and advance sustainability initiatives.
Managing a successful supplychain 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 supplychain.
That is why an increasing number of firms are using Vendor Lifecycle Management Software. This kind of software helps by keeping all vendor information in one central system. Now let's discuss how the right software can solve these problems and bring real value to your business. What is vendor lifecycle management software?
Discover Ways to Boost SupplyChainVisibility through Digital Marketing Supplychainvisibility 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 supplychainvisibility.
Subscribe to SupplyChain Game Changer. SupplyChainVisibility Has Never Been More Important! SupplyChainvisibility article and permission to publish here provided by Adam Miglio. And the limitations in supplychainvisibility seem to start right here.
The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supplychains. Supplier diversification across geographies to reduce dependency on high-risk sources. This makes visibility the cornerstone of any viable tariff management strategy. That is where technology can help.
Modern enterprises rely on supplychainsoftware to track several activities, including manufacturing and distribution of goods. Many supplychain systems are closed-source, all-in-one, proprietary, expensive, and difficult to customize ( read Why ERP Sucks ). What are No-code Platforms?
Subscribe to SupplyChain Game Changer. SupplyChain Investment Challenges – Real and Imagined! Intelligent SupplyChain technologies article and permission to publish here provided by Dan Weinberger , UN SupplyChain Expert and CEO of Morpheus Network. Subscribe Here! Email Address.
The Manufacturing SupplyChain Journey through AI and Automation Manufacturing SupplyChains Explained The manufacturing supplychain comprises all the processes a business uses to turn raw materials and components into final products that are ready to be sold to customers, whether these are consumers or other businesses.
There is more to e-procurement than software (Part 2) see the link in the Web Resources Section. Under the heading Candy and supply base synchronization, I wrote the following: How important is effective internal collaboration? If it did, then 85% of all e-procurement/supplychain initiatives would not fail.
Reference : JD Edwards Baan : Overview : The Baan Corporation offered ERP solutions with procurement components, focusing on manufacturing and project-based industries. Significance : Baan’s software emphasized integration across the supplychain, including procurement processes.
Subscribe to SupplyChain Game Changer. Why don’t you have a TMS (Transportation Management System) Solution yet? SupplyChain Systems article and permission to publish here provided by Dave Joseph at veridian.info. Subscribe Here! Email Address. Warehouse Management System. Warehouse Control System.
Everything You Need to Know End-to-end process and end-to-endsolution 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.
Identifying the need for foundational technology and processes Before joining Utz as its SVP Procurement, Ron had been consulting with the SupplyChain department working on a number of different projects. Instead, he noted, we had to choose our solutions in a more targeted and perhaps even piecemeal fashion.
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. . The contract management process does not get enough attention as much as supplychain management and process automation.
In today’s complex global business environment, effective supplychain management (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supplychain management and meet their business goals.
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. Execution of the contract via e-signature makes for a smooth end to the process. But there’s more.
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. This allows for the identification and implementation of measures to mitigate any delays or obstacles in the supplychain by organizations.
And, as we explored all of those topics, one thing became abundantly clear – there are inherent risks lurking in the shadows. Guest Bio: Mohan Dipsingh is a supplychain expert, owner and principal consultant at PositivePC, and a Platinum Certified CargoWise Partner. No-one was prepared!
Secondly come eProcurement, SupplyChain Collaboration, Invoicing, and Payments. Optimizing source-to-paythrough digital transformation streamlines every stage of your procurement strategy, improving visibility, efficiency, and collaboration. These begin with enhanced visibility. Make them feel in control.
The process creates efficiencies across all spend categories, minimizes supplychainrisks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Analysis should be focused on risks and opportunities while factoring in all costs and sources of added value.
Zarrin Lilani on How Women Lead in SupplyChain At Let’s Talk SupplyChain, we’re passionate about closing the gender gap to expand innovation through diversity. And while the tech industry job market is still anything but stable, supplychain leaders are still dealing with ongoing talent and resource shortage challenges.
Pairing a dedicated Source-to-Pay (S2P) solution with ERP strengthens procurement by enhancing visibility into supplier performance, automating workflows, and enabling smarter decision-making. Manufacturers can improve supplychainvisibility, optimize logistics, and reduce costs associated with inefficiencies.
With the advent of AI, and especially generative AI within that broader term, and the continued globalization of supplychains, the pace of change has sped up, forcing businesses and workers to adjust quickly. It’s no longer good enough to focus on just one area. That alone increases efficiency,” he continued.
Contract Lifecycle Management Evisort , which was once a promising contract analytics upstart looking to disrupt the market with its strong AI and post-signature capabilities, has evolved into a well-rounded, end-to-end CLM provider that can compete for both mid-market and large enterprise customers.
S2P is the end-to-end process that encompasses all the activities between an organization and its suppliers. Upstream covers all the strategic procurement activities such as spend analysis, sourcing, contract management and supplier management (which includes supplier information, risk and performance management).
Over the course of our brand new four-part series, we’re going to talk about why optimized and actionable data is more powerful than mere visibility; and why organizations need good data, not lots of data. We’ll be revealing the true cost of compliance; and changing the way we think about risk in logistics.
It’s a new year, and Bloomberg has already coined it the 2023 hangover for supplychain leaders. Never in modern history have supplychain leaders had more visibility, vulnerability, or accountability laid squarely at their feet. Meanwhile, new challenges are still coming painfully into focus.
Here, we’ll discuss how it becomes useful for SCMs and what are some blockchain supplychain examples. Understanding SupplyChain The production industry uses a variety of procedures to serve its consumers through the market; all these activities can be covered under one umbrella term: supplychain.
It is a process that creates efficiencies across all spend categories, minimizes supplychainrisks through improved supplier selection and awards, while giving visibility into pricing and forecasting. Where and how to buy strategically important goods and services in a way that optimizes value while minimizing risk.
Preview In his 2019 Foresight article, Niels van Hove examined eight technological hurdles that must be overcome to enable autonomous or ‘lights out’ supply-chain planning. He reasoned that to support such planning we need to implement a third wave of integrated supply-chain planning software. Key Points.
Automated approval processes, clear documentation, and real-time visibility empower your team to make smarter decisions, maintain accurate records, and keep your inventory levels optimized. The Benefits of Purchase Order Management How Does Purchasing Software Improve The Purchase Order Management Process?
Subscribe to SupplyChain Game Changer. Shipping solution article and permission to publish here provided by Rashmi Sharma. This is the time online retail businesses need to optimize and improve their supplychain and logistics processes. Seamless Integration With Other Software & Programs. Infographic).
Today I’m joined by innovative software brand, Altana. With a vision of global commerce rebuilt around collaborative, resilient, secure, and sustainable value chains, they’re on a mission to fix globalization. We need to create a ‘Google Maps’ of the world’s supplychain. 52.14] The future for Altana.
Don’t forget to check out our best practices , tools , and a list of helpful supplychain resources on the website! To maximize efficiency, distributors should adhere to the following set of guidelines for evaluating and planning their supplychain with the strategies mentioned below.
In this age of supplychain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. They also factor in how a strong partnership could reduce supplychainrisk and advance sustainability.
Subscribe to SupplyChain Game Changer. Supplychain management and contract lifecycle management are key ingredients to business success. The journey from idea to end product to shipment and delivery is exciting, yes, but rather complicated — fueled with many moving parts. Subscribe Here! Email Address.
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.
The answer often lies in disconnected systems, manual workflows, and a lack of visibility between procurement and finance teams. Thats where automation helps by improving efficiency, reducing risks, and supporting better cost control. It helps prevent errors, removes delays, and gives teams better visibility into spending.
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