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Subscribe Supply Chain Visibility Has Never Been More Important! As a result, the need for real-time supply chain visibility (RTSV) has evolved from a “nice-to-have” to a “must-have” capability for companies aiming to stay competitive. What is Real-Time Supply Chain Visibility?
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we spoke with Nick Francis, Chief Technology and Marketing Officer (CTMO) at Commercial Value Management specialist Brooklyn Solutions.
As little as 10 years ago, we heard stories of pretty much indifference to risk: “supply risk management was young,” we heard, and “we didn’t worry too much about risk; we spent a very small percentage of our time on it.” But from my experience, each team does this very differently, with each using its own technology to manage risk.
If you’re beginning to explore e-procurement, you’ve probably been grappling with manual approvals that delay purchases and limited visibility into spend. Modern e-procurement platforms use automation and AI to streamline workflows, enforce policies, and improve spend visibility.
It requires you to juggle multiple priorities: unifying systems, improving visibility, reducing risk, and proving ROI across every stage of the procurement process. Cost savings and reduced maverick spend: By improving visibility and control, S2P tools help enforce purchasing policies and drive contract compliance.
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.
That, at least, is the theory behind mathematical optimization, and the way it’s being applied to supply chain management today. Bowman, SupplyChainBrain Supply chains consist of imperfect humans struggling to make perfect decisions. In the end, though, it all comes down to a game of numbers.
If your procurement team is juggling multiple ERP systems, you’re likely spending more time chasing data than driving strategy. Disconnected supplier records, inconsistent processes, and limited visibility can impair efficiency and open the door to shadow spend.
Learn about Ivalua’s AI-powered virtual assistant and how it can help you save time, reduce risk and improve decision-making across the source-to-pay lifecycle. Inefficiencies are baked into the procurement process, wasting time and budget while leaving the door open to errors such as missed deadlines or incorrect orders.
Below are five challenges organizations face in navigating the modern order management journey and how leading OMS technologies are answering the call. Below are five challenges organizations face in navigating the modern order management journey and how leading OMS technologies are answering the call.
Without a core system to track and manage these rules, the risk of non-compliance escalates. AI agents can then access real-time, high-fidelity information, boosting the reliability of their insights. Cross-Functional Visibility: Procurement rarely happens in a bubble. Because the platform enforces data standards (e.g.,
This article covers phase 5 of our series: Improving expense management for financial forecasting and control – A Finance–Procurement alignment approach. In phase 5, we focus on sustaining expense management alignment with shared KPIs for financial control. Alignment is not a one-time project; it is a continuous discipline.
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 managing supplier relationships.
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without the right tools, procurements contributions to financial strategy can remain disconnected from budgeting, forecasting and risk management.
A System Under Strain The fragility of the medication supply chain isn’t theoretical; it’s happening in realtime. Alarmingly, 7% attributed at least one medication safety event to a shortage-related issue. Automation fed by real-world data can streamline operations, eliminate redundancy and accelerate response times.
While full-scale digital transformation certainly takes time, organisations can see rapid improvements in efficiency, collaboration, and data accuracy right from the outset. Fewer Emails Procurement teams typically manage more suppliers than Sales teams do customers. All of this leads to both inconsistencies and avoidable human error.
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.
Spend Matters has been speaking with procurement practitioners and solution providers to get a wide view of how procurement and digital transformation is happening in the real world. And in the real workplace, thats where those decisions come from rather than procurement itself. Her first piece of advice would be: Dont. Not yet anyway!
Key metrics were tied to cost reduction and spend under management. 20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management.
The most recent Hackett Group Report highlights key priorities reshaping procurement in 2025, including technology adoption, the rise of Generative AI, and managing emerging risks. However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management.
s introduction of a universal 10% baseline tariff, for example, may appear a manageable challenge at face value. To be precise, the ability to adjust pricing and pricing strategies in real-time, grounded in data and tailored to specific markets, has emerged as the most effective way to shield and even grow profits.
All of the phases are peppered with real-world case studies from the people who have been in your shoes; so you don’t have to step into the same holes they’ve already avoided! From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value.
manufacturers continue to rely on legacy systems—resulting in limited visibility, process inefficiencies, and missed growth opportunities. At the same time, development teams are leveraging Next.js, a powerful React framework, to build scalable, high-performance platforms that meet modern enterprise needs. Yet, over half of U.S.
Long lead times often lead to frustration, making a customer less likely to buy from you next time. However, the great news is that you can improve lead times by making a few strategic changes. Below are a few other ways to help you reduce lead times. This can damage your reputation and reduce sales.
Some of the biggest challenges lie in the preparation work needed before launching an RFX event. The technology considers factors like location, capacity, lead times, and certifications. The technology excels at comparing detailed offers for one-time project spend: AI can distinguish between different Incoterms.
This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations. This process is known as supplier risk management.
In the increasingly fast-paced business world, efficiency and cost management have become key. These systems help businesses manage resources more efficiently, increase productivity, and save a significant amount of money. This helps businesses to avoid the cost of replacement and loss of time due to the disruption of operations.
High-tech companies are under increasing pressure to innovate rapidly, manage globally distributed suppliers and meet stringent compliance requirements—all while maintaining speed, quality and cost control. To remain competitive, organizations must fundamentally rethink their approach to supply chain management.
Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Collaboration brings visibility and agility for gaining market share.
AI allows suppliers to review data in realtime, so they can stress-test scenarios, make changes and tweak their responsiveness. Teams are more transparent and closely connected, further improving efficiency when responding to an event. It all starts with adaptability. And the cherry on top?
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.
By the time I have finished writing this article, and certainly before it is published, the situation will have changed. One is reminded of the Chinese proverb, Better to be a dog in times of tranquility than a human in times of chaos. We need to rewrite these systems and introduce new taxonomies to manage hyper-variability.
Image: iStock/JuSun June 18, 2025 Helen Atkinson, Managing Editor “The future is already here; it’s just not evenly distributed,” wrote William Gibson in his 1984 novel Neuromancer. The eternal problem is that you can receive timely, accurate information, but it’s tricky to know what to actually do with it.
Managing a successful supply chain requires more than just ensuring products are delivered on time its about building strong, effective partnerships with your suppliers. Improved efficiency and cost reduction A company's operations, efficiency, and lead times can be greatly improved via strong cooperation with its suppliers.
Instead, it spreads out supply needs across multiple vendors and regions to avoid disruptions when unexpected events occur. Setting up supplier diversity takes time and effort. Procurement managers must also consider supplier stability. Visibility across internal workflows matters, too.
It demands a deep dive into complex calculations and multi-faceted considerations that impact everything from sourcing and production strategies to long-term investment and risk management. Businesses must also consider the ripple effects on their inventory strategy; any change of supplier will change lead times.
For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses. Supply chain visibility: The linchpin for tariff management If there is one lesson from recent disruptions, it is this: you cannot mitigate what you cannot see.
Following are three strategies for using data to meet these challenging times. Now is an excellent time to develop organizational execution intelligence, which means using data and analytics to optimize operations across inventorymanagement, pricing and promotion to squeeze every last ounce of efficiency out of your processes.
Supply chain processes that can benefit from technological advancements include the following: Inventory Planning : Managing your inventory is daunting if you rely on manual stocktaking procedures. Order Management: Technology facilitates order fulfillment by integrating marketing and sales channels.
This would be a significant cost-saving and time-saving mechanism for both the shippers, carriers, and logistics providers. It also enables the management of the supply chain finances in exciting aspects. It brings considerable time savings through its integration with popular ERP platforms like SAP and Oracle.
Supply chain reports are data-driven documents that provide key metrics and insights into various aspects of your supply chain, including: Inventory Levels Tracking stock levels in real-time to ensure adequate inventory to meet demand while minimizing holding costs.
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 Supplier management process.” Here’s how: 1.
Procurement has become a strategic function in modern businesses, with growing pressure to manage costs, improve supplier performance, and drive operational efficiency. Efficient data management involves the collection, cleaning, integration, and storage of procurement data. KPIs monitor procurement performance and analytics' effects.
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