World of Procurement blog

APRIL 23, 2024

Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers. Project Management : Leading procurement projects from inception to completion.

Ethics 52

Ethics Procurement Supplier relationship management Market knowledge 52

ivalua

JANUARY 8, 2023

The act was established to address issues of sustainability and ethical conduct in global supply chains, and has significant implications for companies and procurement organizations operating in Germany. The new set of regulations add an additional layer of compliance and risk management to the procurement process.

supply chain software solutions 244

supply chain software solutions Supply Chain Efficiency Supply chain Procurement 244

World of Procurement blog

APRIL 24, 2024

This tailor-made instrument encapsulates the ethos, strategies, and operational guidelines that ensure procurement activities align with broader organizational goals and ethical standards. The reasons are manifold: Risk Mitigation : It acts as a safeguard against financial waste, corruption, and legal pitfalls.

Procurement 52

Procurement Ethics Collaboration Risk 52

Procurement Tactics

NOVEMBER 23, 2022

Corporate social responsibility (CSR) is the commitment of businesses to behave ethically and contribute to the development of the economy all while improving the quality of life of their workforce and their surrounding community. . Corporate Social Responsibility – What is it? What is Sustainability in Procurement?

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

Procurement Templates

APRIL 15, 2024

Stage 6: Risk Management Days 51-60 Risk Assessment: Conduct a comprehensive risk assessment to identify potential risks related to suppliers, contracts, and operations. Mitigation Strategies: Develop and implement risk mitigation strategies to minimize exposure and ensure business continuity.

Procurement team 130

Procurement team Contract management Innovation Suppliers 130

Procurement Heads

FEBRUARY 9, 2023

Importance of strategic sourcing As businesses become more focused on sustainability and ethical sourcing, the importance of strategic sourcing will only continue to grow. Increased focus on risk management Procurement professionals are also responsible for managing risk in the supply chain.

Procurement 130

Procurement Strategic sourcing Strategic sourcing supply chain budgeting 130

Procurement Templates

APRIL 15, 2024

Personal Interests and Values: Personal interests, values, and beliefs can also influence procurement managers’ views. For instance, managers who prioritize sustainability and ethical sourcing may have different perspectives on supplier selection and contract negotiations compared to those who prioritize cost-efficiency above all else.

Influencing 130

Influencing Negotiation Risk Innovation 130

IBM Supply Chain Blog

OCTOBER 16, 2023

An AI governance framework ensures the ethical, responsible and transparent use of AI and machine learning (ML). It encompasses risk management and regulatory compliance and guides how AI is managed within an organization.

Risk 75

Risk Management Ethics Real-time Visibility 75

Procurement Templates

SEPTEMBER 14, 2023

This involves selecting suppliers and partners who are committed to ethical and eco-friendly practices. Additionally, organizations should work with legal experts to navigate complex compliance issues and ensure that their procurement practices align with legal and ethical standards.

Sustainability 130

Sustainability Supply Chain Efficiency Procurement Ethics 130

Spend Matters

DECEMBER 19, 2023

New regulations will reward ethical companies Recent years have introduced us to a number of new supply chain laws that are focused on promoting human rights and environmental stewardship (see the German Supply Chain Due Diligence Act and the US’s Uyghur Forced Labor Prevention Act), and that trend will continue in 2024.

Procurement solutions 90

Procurement solutions Procurement Ethics Risk 90

Spend Matters

MARCH 5, 2024

Read more about SolutionMap methodology and code of ethics. If you’re new to SolutionMap, here are the basics SolutionMap launched in 2017 and is published twice annually.

Procurement 111

Procurement Sourcing Risk management Ethics 111

Procurement Tactics

APRIL 5, 2023

Risk management Refusing to adopt sustainability has its own consequences and can severely affect the brand value, reputation, market capitalization, market share, legal exposures, price fluctuations, access to supply, ethical exposures, financial liabilities, and the risks associated with operating licenses.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

IBM Supply Chain Blog

FEBRUARY 19, 2024

Sustainable and ethical sourcing Companies are trying to ensure that every stage of their supply chains is adhering to responsible practices. This not only helps satisfy customer desire for sustainability and ethical products but also helps mitigate risks, such as regulatory penalties or reputational damage.

supply chain software solutions 86

supply chain software solutions Supply chain management Supply chain management Supply Chain Efficiency 86

NLPA (Next Level Purchasing Association)

SEPTEMBER 8, 2023

A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.

Procurement 52

Procurement Strategic sourcing Strategic sourcing Supply Chain Efficiency 52

Procurement Tactics

JUNE 28, 2023

Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial. This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Una

JULY 3, 2023

Risk management Procurement leaders play a critical role in assessing and mitigating risks associated with the supply chain. They monitor their organization’s risk appetite, oversee the implementation of risk management frameworks, monitor market trends, and proactively identify potential disruptions.

Leadership 52

Leadership Procurement Ethics Supply Chain Optimization 52

Spend Matters

MARCH 25, 2024

We recently spoke with Stuart Brock , founder and President of startup iKinetiq Innovation Solutions which helps procurement functions design the right strategy to optimize processes, gain deeper insights, and enable data-driven risk management with a focus on using AI technologies responsibly.

Procurement contracts 115

Procurement contracts Contract Procurement Negotiation 115

Procurement Tactics

SEPTEMBER 19, 2022

Due to this, chief procurement officers are now pressured to take on sustainability initiatives and ensure ethical and sustainable procurement. . It offers a sustainable procurement impact assessment to identify spend categories with the most opportunity and risk. .

Sustainability 130

Sustainability supply chain software solutions Supply chain Supply 130

IBM Supply Chain Blog

FEBRUARY 13, 2024

The following are examples of strategic sourcing use cases: Transparency and traceability From fast fashion to fluorite, consumers and stakeholders are keyed into product provenance—expecting brands to uphold ethical, responsible sourcing practices. This technology can also help reduce the risk of regulatory non-compliance.

Strategic sourcing 84

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 84

IBM Supply Chain Blog

FEBRUARY 13, 2024

Fraud detection and risk management : Generative AI can quickly scan and summarize large amounts of data to identify patterns or anomalies. This challenge is expected to give rise to new marketplaces centered around ethical data sets. Experts anticipate that bias will remain a persistent aspect of most generative AI models.

Data 122

Data Ethics Quality Project management 122

IBM Supply Chain Blog

FEBRUARY 28, 2024

Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

Sourcing 102

Sourcing Strategy Supply Chain Efficiency e2e 102

ivalua

SEPTEMBER 8, 2022

Originally published on Risk Management Monitor. A better way of looking at those relationships is as partnerships—albeit ones that require management and alignment of objectives first and foremost, but ultimately mutually beneficial relationships.

Risk 130

Risk Suppliers Management Supply Chain Efficiency 130

Arkestro

JANUARY 23, 2024

Everyday responsibilities include a range of activities, such as: Supplier sourcing Cost negotiation Market research Quality assurance Contract management Risk management Supplier relationship management Policy compliance Budget management Technology utilization For every facet of a procurement manager, communication and collaboration are key.

supply chain budgeting 52

supply chain budgeting Management Supply Chain Optimization Procurement 52

Let's Talk Supply Chain

MARCH 26, 2023

Blume Global is a technology provider committed to an ethical, purpose-driven supply chain ecosystem; and to creating a more sustainable environment through providing an open, neutral platform across all trading partners to drive asset optimization, predictive visibility and traceability. 27.19] The ideal client for Blume Global.

Real-time Visibility 52

Real-time Visibility Agile and Lean Supply Chain Supply Chain Optimization supply chain software solutions 52

Empowering CPO

JULY 3, 2023

These methods often involve manual, time-consuming processes, a lack of transparency in supplier relationships, and difficulty in managing and analyzing large volumes of procurement data. Strategy 4: Sustainability and Ethical Procurement Sustainability and ethics have become increasingly important in procurement.

Innovation 52

Innovation Strategy Procurement Management 52

NLPA (Next Level Purchasing Association)

OCTOBER 17, 2022

Continuous Improvement and Risk Management Systems have long been essential to realizing supply chain and organizational success. This is especially true at a time when organizations are preoccupied with ensuring reliable supply lines, cost reduction, risk mitigation, business continuity, and so on. . PDCA stands for: .

supply chain budgeting 52

supply chain budgeting Risk Agile and Lean Supply Chain Risk management 52

Empowering CPO

JULY 2, 2023

However, with time, the function evolved, incorporating strategic elements such as supplier relationship management, risk management, and sustainable sourcing. Risk Management: Identifying and mitigating potential risks in the supply chain, ensuring business continuity and resilience.

Management 52

Management Procurement Strategic sourcing Strategic sourcing 52

ivalua

SEPTEMBER 26, 2019

Despite the general consensus that risk management is important, recent studies have found that many companies still have a long way to go and a lot of work to do…. Many countries have also introduced new regulations on sustainability (modern slavery, conflict minerals), or diversity, which add new risk factors in terms of compliance.

Agile and Lean Supply Chain 100

Agile and Lean Supply Chain Risk Supply chain Risk management 100

Una

AUGUST 21, 2023

Risk management Consider the human influence on risk management. Address potential risks linked to supplier relationships, new management goals, or spend mavericks. Procurement fraud Unfortunately, procurement fraud can occur due to human vulnerabilities such as greed, ethical lapses, or collusion.

Strategic sourcing 52

Strategic sourcing Strategic sourcing Sourcing Ethics 52

IBM Supply Chain Blog

DECEMBER 13, 2023

By assessing and proactively managing risks inherent in the supply chain , organizations can shield themselves from disruptions and strengthen the resilience of their operations. A balance of talent, technology, compliance, ethics and sustainability is needed to align procurement activities with corporate objectives.

Procurement strategies 70

Procurement strategies Strategy Procurement Supply Chain Efficiency 70

IBM Supply Chain Blog

MAY 9, 2023

Increasingly we are also seeing companies making social and ethical responsibility a key strategic imperative. Watsonx.governance is designed to help businesses manage their policies, best practices and regulatory requirements, and address concerns around risk and ethics through software automation.

Ethics 75

Ethics Risk Data Management 75

Arkestro

MARCH 27, 2024

The best procurement buyers have a solid understanding of market trends, supplier performance, and ethical sourcing. They also make strategic decisions that optimize value and minimize costs, all while mitigating risk and staying compliant. Luckily, new technology can help procurement buyers achieve success in a time of complexity.

Buyers 52

Buyers Supply Chain Efficiency supply chain budgeting Procurement 52

HICX

SEPTEMBER 11, 2023

Table of Contents What is supplier risk management? What are the benefits of supplier risk management? What is supplier risk management? It should be considered an essential part of an organization’s wider risk management strategy. What are the benefits of supplier risk management?

Risk management 52

Risk management Risk Suppliers Management 52

Procurement Tactics

MAY 30, 2023

Furthermore, procurement managers ensure that the procurement process complies with legal and ethical standards. By ensuring compliance, procurement managers help the organization avoid legal and reputational risks. This includes anti-corruption laws and sustainability requirements.

Management 178

Management supply chain budgeting Procurement Negotiation 178

IBM Supply Chain Blog

DECEMBER 4, 2023

Risk management To make underwriting decisions related to property, insurance companies gather a significant amount of external data, including the property data provided in insurance application forms, historical records of floods, hurricanes, fire incidents and crime statistics for the specific location of the property.

Ethics 56

Ethics Data Risk management Risk 56

Skill Dynamics

OCTOBER 19, 2023

Starbucks’ commitment to fair trade negotiations resulted in three worthwhile endeavors: sustainable and ethical sourcing practices, improved living conditions for coffee farmers, and a unique selling point that attracted socially conscious consumers.

Negotiation 52

Negotiation Procurement Procurement strategies Buyers 52

SCMDOJO

JUNE 6, 2023

Continuous Improvement & Risk Management Analytics helps make continuous improvement easier by providing businesses with data-driven insights. By analyzing supply chain data, businesses can detect anomalies, potential risks, and deviations from their standard operating procedures. Download from the below link.

Supply Chain Optimization 72

Supply Chain Optimization supply chain budgeting Supply Chain Efficiency supply chain software solutions 72