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Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Conduct Supplier Assessments: Regularly evaluate supplier performance using scorecards focused on quality, delivery, and cost. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g.,
Indirect procurement sometimes flies under the radar, but its impact on cost, compliance, and efficiency can be significant. For many enterprise teams, managing indirect spend feels like a reactive process that’s out of sync with business goals. Let’s look at some of the most measurable benefits.
Subscribe Featuring Our 10 Best Inventory Management Articles! Effective inventory management is crucial for businesses of all sizes and industries. Balancing supply and demand, minimizing carrying costs, and ensuring adequate stock levels are just a few challenges faced by inventory managers.
Subscribe SupplyChain Visibility Has Never Been More Important! Supplychains are more complex than ever, stretching across continents, industries, and multiple stakeholders. What is Real-Time SupplyChain Visibility?
The global supplychain landscape is undergoing significant transformations, influenced by rapid technological advancements, shifting consumer expectations, and the intricacies of international commerce. Developing Analytical Skills Data analysis is at the heart of effective supplychainmanagement.
Global trade is complex, and supplychains are intertwined and interconnected. Supplychain leaders must adapt and use smart strategies to remain competitive. This article explains how to understand US tariffs and lessen their impact on supplychains. This builds resilience during uncertain times.
It happens due to several factors, including geopolitical events, economic data releases, central bank decisions, and even market speculation. For businesses involved in supplychains, such instability isn’t just about numbers on a screen—it can directly impact costs at every step of the process.
Leading organizations are rethinking how supplier relationship management and how they manage spend categories, and they’re looking to collaborate more efficiently and effectively across functions. This approach enables businesses to reduce total cost of ownership (TOC), build stronger supplier partnerships, and manage risk.
Strong supplychain capabilities drive efficiency and develop competitiveness in an oversaturated market. Global disruptions such as COVID-19 have unearthed a wide range of vulnerabilities within international supplychains.
Subscribe 4 Inventory Management Tips for Construction Companies to Lock Project Success! Managing construction supplychain risks is critical to ensuring the successful completion of projects. Here’s a complete guide to handling construction supplychain risks.
2) E-sourcing Once demand is clear, e-sourcing enables teams to launch sourcing events through structured, automated workflows. Procurement teams use e-auctioning software to run reverse auctions or dynamic bidding events, where multiple suppliers compete to offer the best price for a standardized product or service.
Supplychains are the lifelines of global commerce. From small manufacturers to multinational corporations, organizations depend on interconnected networks to deliver materials, goods, and services in a timely and cost-effective manner. Cyberattacks on supplychains are not new, but their scope and impact have evolved.
Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.
The Resilient SupplyChain! Supplychains are believed to be the backbone of your business operations. Supplychain disruptions are unpredictable but can be controlled. There’s no supplychain immune to the disruptions. Technology advocates for automation of the supplychain processes.
It’s Event Season 2025! It’s Event Season 2025! Spring and summer mark a season of innovation, connection, and momentum in procurement, as well as some of the industry’s biggest annual events. Here are four of 2025’s past events where Arkestro was a major presence. Resources / Blog / Where in the World is Arkestro?
According to our 2024 report, Generative AI in the B2B Marketplace , 81% of B2B businesses are already investing in AI, with 79% anticipating increasing their AI budgets within the next year. What can supplychain leaders do to mitigate these risks? Yet these same companies have the same anxieties about investing.
Supplychain reports offer a comprehensive view of your entire supplychain operation. What are SupplyChain Reports? However, implementing inventory management techniques such as ABC analysis and safety stock to optimize stock levels and minimize the risk of stockouts.
The SupplyChain Renaissance Has Begun! In the complex world of business, the supplychain serves as the backbone, connecting the dots between production and customer satisfaction. Cost Reduction A streamlined supplychain is a powerful tool for costmanagement.
Consider this your business suddenly faces a major supplychain disruption. But the truth is, a fragile supplychain can make or break your companys success in today’s world. But the truth is, a fragile supplychain can make or break your companys success in today’s world.
Skip to main content Dont miss tomorrows supplychain industry news Let SupplyChain Dives free newsletter keep you informed, straight from your inbox. Tariffs have become one of the most disruptive variables in global supplychains. You can unsubscribe at anytime. From the U.S.-China
Subscribe The SupplyChain Renaissance Has Begun! Efficient supplychainmanagement is the key. Imagine being able to offer faster deliveries, reducecosts, and minimize errors. All of this is possible thanks to an optimized supplychain.
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. Supply network modeling, now integrating large language models (LLMs), allows for precise tracking and material tracing.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
Yet the complex supplychains behind those therapies are increasingly vulnerable. A System Under Strain The fragility of the medication supplychain isn’t theoretical; it’s happening in real time. Alarmingly, 7% attributed at least one medication safety event to a shortage-related issue. drug spending reached $37.1
Kenco’s 2025 SupplyChain Innovation Survey found that one in four professionals now have $500,000 or more in their budget to incorporate new tools and technologies, and 39% have seen their budgets increase this year.
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.
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.
Skip to main content Dont miss tomorrows supplychain industry news Let SupplyChain Dives free newsletter keep you informed, straight from your inbox. Companies are coming under increased scrutiny to report and manage these emissions in addition to those under the organization’s direct control.
This is especially true as many manufacturing procurement departments struggle with exactitude, efficiency, and unforeseen events that keep them from meeting their goals. This process ultimately leads to faster delivery times, more significant cost savings, and improved supplychain resilience.
Skip to main content Dont miss tomorrows supplychain industry news Let SupplyChain Dives free newsletter keep you informed, straight from your inbox. Add to this the pace of technological change in the supplychain space, and you have a perfect storm of challenges facing procurement departments across industries.
Navigate SupplyChain Challenges with Supplier Management Software In today's volatile marketplace, fragile supplychains pose significant risks for growing ecommerce brands. What Is Supplier Management Software? Every disruption threatens sales, customer loyalty, and competitive position.
The Art of Supplier Collaboration: Best Practices to Build Lasting Partnerships Dynamic market changes and global events seem to create newer demands and greater pressure on procurement professionals. Find out more about the different models of holistic supplier management.
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. Most teams are stuck reacting to problems after they’ve already escalated, rather than proactively managing risk. Supplier risk adds even more complexity.
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.
The process creates efficiencies across all spend categories, minimizes supplychain risks through improved supplier selection and awards, while giving visibility into pricing and forecasting. In some categories it makes sense to conduct a competitive sourcing event, for example an online auction using eSourcing software.
Fewer Emails Procurement teams typically manage more suppliers than Sales teams do customers. Dealing with all of these contracts, sourcing events and purchase requests simultaneously, without a digital solution, results in email overload. These repetitive tasks not only consume valuable time, but also increase the risk of human error.
Without experienced managers in place, truck availability drops, repairs are delayed, and cost control becomes difficult. Still, it can be just as disruptive to supplychain performance. What Happens When Fleet Leadership Is Unstable Losing a fleet manager isn’t just an HR issue. Disruptions in decision-making.
SupplyChain Disruption in 2025: Navigating SupplyChain Issues Supplychain issues have become the defining challenge for multichannel merchants in 2025. When supplychains falter, customer satisfaction plummets and competitors gain ground. What Are SupplyChain Issues in Plain Language?
Why Effective SupplyChain is Critical to a Successful ECommerce Business! While offering access to global markets, eCommerce has also created a new set of challenges for businesses, particularly when it comes to supplychainmanagement.
Assessing eAuction Bids eAuctions, or online sourcing events, have been around for more than twenty years and they have proven a highly effective tool for finding the best suppliers based on total cost. While it may seem straightforward, many issues can arise, some of them entirely unseen if the process isnt carefully managed.
In today’s competitive market, every drop of efficiency in extraction and logistics fuels innovation across supplychains, ensuring that products reach consumers faster and at lower costs. How does oil and gas production drive global supplychain innovation?
Procurement managers are pros when it comes to negotiating deals down to the penny, working closely with suppliers to secure terms that place them at a strategic advantage. What Happens When Indirect Spend Isnt Managed? Admin staff might be responsible for ordering office supplies. What Happens When Indirect Spend Isnt Managed?
In many industries, procurement is responsible for managing significant budgets which means it holds a key lever for business performance. Procurement teams now include specialists such as category managers with deep market knowledge who drive sourcing events and significantly impact the companys bottom line.
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