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He has spent about 20 years in supply chain and procurement, was involved in the sourcing of sustainable cocoa and confection for Unilever’s Ice cream brands and procured premium packaging and chemicals for Unilever’s Beauty and Wellbeing business. Risk mitigation requires strategic thought and conscious choices on sourcing.
This Spend Matters Vendor Analysis gives an overview of LightSource, a sourcing solution built for direct materials. Procurement teams that manage direct materials sourcing continue to face persistent challenges, even as digital tools become more widely adopted. This content is for members only.
Premier event for procurement & supply chain practitioners will showcase latest technological innovations and extensive line-up of industry leaders. to a virtual event, taking place on May 5 and 6, 2020. to a virtual event, taking place on May 5 and 6, 2020. Redwood City, CA.
Coupa announced during its Inspire 2025 event that it has acquired Cirtuo, a provider of category management (CatMan) software. The move addresses a long-standing gap in many procurement technology offerings: helping teams define and manage procurement strategies, rather than just executing sourcingevents.
Speaker: Fernando Penteado, CPSM - Supply Chain and Logistics Executive, Global Markets Expert, and International Speaker
Now, as a variety of disruptive events cause supply chain challenges, companies are contemplating bold moves to keep business moving, including moving sourcing and manufacturing closer to home markets and maintaining a larger reserve stock to help manage the fluctuations in supply and demand.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
Here’s a detailed guide to enhance procurement capabilities across various domains: Strategic Sourcing and Supplier Management Actionable Steps: Analyze Spend Data: Use spend analysis tools to identify areas where costs can be reduced or efficiencies improved. Resources: Online courses on strategic sourcing (e.g.,
It’s possible, for example, for a business to be vigilant, see signs of a labor dispute and take action to make sure that doesn’t transpire into a full-scale factory walk-out, but more often this type of risk event comes as a surprise to the supplier and its customers. Some suppliers don’t make it through at all.
Innovation group and Ipsita Ghosh of Kimberly-Clark spoke about generative AI and the importance of having unbiased data sources before a genAI implementation. Moreover, practitioners who run sourcingevents could also benefit from some of the research and negotiation innovations that were shared.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
Executives at an American Apparel & Footwear Association event underscored the need to find alternative sourcing as U.S.-China China relations continue to fray.
1] The need to improve real-time decision-making is contributing to a growing demand for event-driven solutions and their ability to help businesses achieve continuous intelligence and situation awareness. An event-driven architecture focuses on the publication, capture, processing and storage of events.
Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.
In our recap, we’ll dive into the key takeaways from the event and what they mean for the industry. They asked, what can organizations do to optimize their strategic sourcing processes? Automating strategic sourcing not only simplifies the process but also offers significant savings, increased efficiencies, and better governance.
With another busy year of procurement and supply chain events tidily packed away behind us, Spend Matters is pleased to provide a round-up of the main events we attended in 2023, with a short recap of each and key takeaways. Later, on September 14, SIG held the Eastern Regional SIGnature event in Boston.
Read our analysis: Risk is complex — The different types and sources of risk.) Because regulations have come into play and firms have witnessed various risk events, there is usually someone in the organization who is held accountable for addressing a particular risk. But even then, there are some risk events that you cannot foresee.
Located at the Caesars Superdome, the two-day event featured keynotes, breakout sessions, solution demonstrations, partner/sponsor booths and more. Overview of Ivalua NOW Americas 2025 The event followed a similar structure to that of the EMEA Ivalua NOW conference. The first Ivalua NOW conference of 2025 took place in Paris in March.
A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.
Like every industry Procurement & Supply Chain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. Ivalua’s events have been consistently strong for several years now.
Almost seven-in-ten (68%) of organizations view suppliers as a source of differentiation, while 66% now collaborate with suppliers to increase supply chain resilience. Black Swan events are expected to come at shrinking intervals, so organizations must think about where disruption will come from and how it will affect global supply chains.
Many businesses go to market for solution support within supplier management with ESG/Corporate sustainability as a primary compelling event, or driving factor. This is primarily grounded in legislative requirements (CSDDD, CSRD, EUDR, LkSG etc.),
A unified platform providing a single source of truth enables better collaboration, regular oversight and audit readiness. Our vision is to make TPRM a continuous, dynamic process rather than a one-time event.
This, given the productivity constraints of modern strategic sourcing teams, means that they often must choose between refining the assumptions and calculations in their model and doing other things, like studying the broader market, building supplier relationships or solving tactical challenges like shortages. supplier count, event size).
Just in the limited discussion above, we noted NMSDC, CAMSC, and Supply Nation as sources of data and certifications, and there are many more. As more and more countries implement diversity programs, these unique certifications and data sources will increase exponentially. Ethical Spend Toolset.
World Sustainable Procurement Pay is an important event that is attended by many procurement professionals all over the world. Additionally, we will talk about why this event is crucial for procurement professionals. . These are some of the events that many people celebrate just like World Sustainable Procurement Day. .
Please visit us on our stand, or reach out to Afrika Morris if you would like to meet up with our team at the event. truly unlock the Source-to-Pay journey. For more information on the event, or to register, please click here. Here are details of Ivalua’s speaking slot. 10.30am No Compromise, Procurement Next Horizon?
Nearly half of respondents (47%) believe the primary benefit to having a more diversified supply chain is reducing the risk of disruption from various events such as natural disasters.
The event included several new product announcements as well as company updates following Docusigns major announcement at last years event, the advent of a new contract management category called Intelligent Agreement Management (IAM) designed for wider organizational appeal beyond just procurement and legal departments.
Sourcing isn’t just a concern for procurement teams. The sourcing process sits within supply chain management and is used for identifying, vetting and selecting the best suppliers. The sourcing process sits within supply chain management and is used for identifying, vetting and selecting the best suppliers.
The independent study surveyed 233 senior procurement executives from leading manufacturing companies in the US and UK about their strategic plans for optimizing sourcing and supply chain processes. Nearly all executives surveyed (97%) point to significant disruption today in their direct materials supply chain.
So these real-life practical considerations also come into play for the practitioner, and finding alternative sources of supply becomes a priority. Real risk events affect where you prioritize risk “Covid taught us a lot about structured resilience plans,” says Stephen. Most firms will have a nice big ‘book’ of plans.
Agile Planning and Sourcing : Be ready to quickly adjust demand forecasts, change orders, and find new suppliers. Pivot to New Regions and Suppliers in the Face of Tariff Uncertainty Diversify Sourcing : Diversification is key to managing tariff risks. Plan for Changes : Have backup plans for different scenarios.
For the past 12 years, Sammy Rashed has applied the experience he gained from being a procurement and strategic sourcing leader at Novartis and Merck to serve as the expert facilitator of several practitioners-only Procurement Think Tanks globally.
Think of it as the centralized hub that simplifies engagement and empowers decision making for whatever it is youre seeking to address in the Source-to-Pay lifecycle. Here’s how: Unified access to data: Raindrop aggregates information from various sources, providing decision makers with a single source of truth.
During the week of September 23, I represented Spend Matters at the Amazon Business Reshape 2024 event in Dallas, Texas. The event began with an introduction by Todd Heimes, Vice President of Business Prime and Marketing, followed by Shelley Salomon, Vice President of Amazon Business.
Digital transformation will lead to the evolution and digitization of key procurement processes, from source-to-pay. This way, if one supplier is impacted by a disruption, you can source goods from another supplier. Create speed and transparency.
By leveraging automation, AI-driven analytics and integrated source-to-pay (S2P) solutions, organizations can streamline workflows, improve financial accuracy and enhance procurements role in decision making. Claritum Cloud-based P2P solution with tactical sourcing capabilities. Source One, Netsend, Determine and Vendorin).
This resilience can be defined as “ the ability of a central procurement and supply management function to prepare for unexpected events, respond to disruptions, recover, and emerge even stronger. ” Manufacturers cannot foresee every risk, inconvenience, or disaster, but they can equip themselves to handle the unexpected and come out on top.
Today’s procurement challenges go far beyond cost negotiations and sourcing. In response to these shifting needs, enterprise resource planning (ERP) systems and Source-to-Pay (S2P) platforms have played a pivotal role in enabling procurement teams to manage non-strategic or low-priority spend more efficiently.
As we inferred in our exploration of the types and sources of risk, risk management done well can reap rewards, just as risk management ignored can reap chaos. The breadth and depth of risk types and sources can be overwhelming for organizations and even costly if left unchecked. But there is also massive potential.
At the event, the provider revealed several new solution features, including a relatively robust sourcing module. New features announced at Zip Forward In addition to the AI-based features it unveiled last month , Zip also introduced its new sourcing module.
150$300/night, sourced from Booking.com trends), assuming 23 nights based on conference duration. from event websites, Procurement Magazine) with a 5% inflation adjustment for 2025, using practitioner rates (not investor/startup discounts). Accommodation: Mid-range hotels (e.g., $150$300/night,
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