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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.
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.
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 sourcing events. What is Category Management?
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g.,
The high-tech and telecom sectors face a contract management crisis if the process isn’t managed properly. What can CPOs do to ease the contract management burden?
10 Sustainable Supply Chain Technology Trends Transforming Business in 2025 Meta Description: Discover how AI, blockchain, and other emerging technologies are revolutionizing sustainable supply chain management in 2025. Learn about key innovations driving environmental and business value.
In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. Direct materials management is essential for aligning demand, supply and product objectives throughout the product lifecycle.
Such capabilities are especially important for high-mix, low-volume manufacturers that need to continuously identify optimal suppliers for a wide variety of existing and new parts. This Spend Matters Vendor Analysis gives an overview of CADDi Drawer, an Al-driven software that helps manufacturers with similar part searches.
Why stakeholder management matters in procurement digital transformation Stakeholder management is the foundation of any successful procurement digital transformation initiative. To understand why, lets look at the following parallel: Procurement professionals often discuss spend under management (SUM) as a key metric of success.
The secret is mastering strategic cost management strategies. This GEP bulletin, "Strategic Cost Management Approaches to Unlock Growth and Increase Profitability," breaks this down into clear, actionable steps. How can businesses gain a competitive edge in an era marked by relentless competition and economic fluctuations?
So, how we manage risk is what keeps me up at night… We try to be robust as a procurement organisation because, as a commodities company, risk is a part of our everyday life: we can have a crop failure, we can have a delivery failure, we can have a quality failure, so how do we handle that? ” Stroup says.
Thats why local SEO, or Search Engine Optimization, is critically important for any business operation, and Supply Chain Management is no exception. If you are looking for ways to improve your supply chain management performance, e.g., by cutting costs and saving time, you must consider leveraging local SEO.
The modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Procurement teams are spread thin and have to manage everything from basic sourcing to board-level ESG compliance. Procurement has long sought a strategic seat at the table.
This article serves as the executive summary of a six-part series built for finance and procurement leaders aiming to strengthen their organizations cash flow management and liquidity position. Cash flow management is no longer an isolated finance function, it requires end-to-end coordination across teams and systems.
47% of marketers said they have a database management strategy in place, but there is room for significant improvement. As buyer expectations to receive this type of relevant engagement continues to heighten, database management strategies are of high importance.
As Ive said previously, keeping calm is an important mindset to maintain through times like these, but its equally important to build adaptive, agile and even predictive capabilities to help navigate the coming years.
The COVID-19 vaccine rollout underscored the importance of the cold chain to modern logistics and revealed significant challenges. A wide range of products, primarily pharmaceuticals and food items, require temperature-controlled…
Redwood City, CA, July 12, 2022 – Manufacturers are working to accelerate digitization initiatives to manage supply chain disruptions in 2022 and beyond, according to an original survey commissioned by Ivalua , a leading global spend management cloud provider. Ivalua is a leading provider of cloud-based Spend Management solutions.
Maja Tepeh , Senior Brand Manager at supply chain risk management solution Prewave , shares what their customers are looking for from their digital procurement investment. However, the cost avoidance from mitigating ESG-related supply chain risks, such as regulatory fines or disruptions, is equally important.
As frustrating as contact and account data management is, this is still your database – a massive asset to your organization, even if it is rife with holes and inaccurate information. This buyers guide will cover: Review of important terminology, metrics, and pricing models related to database management projects.
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Too often, she told us, while these transformations are led by technically proficient teams, they underestimate the importance of properly defining the project from a business perspective from the outset. So before drafting your specifications, its important to ask yourself: will this IT system truly improve and simplify users daily work?
In supply chain management, data and its targeted analytics are necessary to make statements about important influences on the supply chain: Which deliveries are often uncertain? Which materials or products…
Gathered around a table laden with insights and expertise, industry leaders recently convened at the institute for Supply Management to delve into the latest hot topics shaping the world of supply chain management.From procurement strategies to risk mitigation, the roundtable discussion was a lively exchange of ideas and perspectives.
Speaker: Ketan Jahagirdar - Sopheon’s Director of Product Management
Empower yourself as a project manager with insights that directly influence the financial landscape and strategic direction of your organization! Join us for a deep dive into the world of financial strategy, as we dissect key metrics that drive CFOs and business leaders’ investment decisions.
Ongoing training is important for procurement teams to keep up with the constantly evolving and advancing procurement tech and services landscape, specifically in niche areas such as category management, supplier management, negotiation and strategic sourcing and in the broader areas of change management and leadership.
In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. Join us as we delve into the world of Supplier Relationship Management, unlocking the secrets to success in the face of tariff uncertainty.
Instead, it involves smart planning, better supplier management, and improving the way are made. is important because it directly affects a companys profits, cash flow, and overall growth. Why it works: When demand is properly managed, there's less chance of overstocking or ordering too frequently, which can lead to cost savings.
Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Risk Mitigation: Identify and manage procurement risks by ensuring supplier reliability, diversifying sources, and monitoring market trends. Your team may be the most important asset for your own personal development.
Research shows that as many as 70% of product launches fail due to inadequate coordination among stakeholders, including supply chain, product management, legal, marketing, and change control teams (Gartner, 2022). This underscores the critical importance of cohesive efforts to achieve timely and compliant product launches.
Understanding Human and AI Agents Human Agents : These are procurement professionalssuch as buyers, managers, and supplierswho bring contextual knowledge, judgment, and experience to the procurement process.
Supply chain risk management is proactive and data-driven. In this test case, the public sector organization realized a year-over-year 23% cost of goods savings for seven consecutive years while simultaneously reducing the number of buyers required to manage the contract to 3 from an original 23.
As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways. Risk planning and mitigation by in-depth project planning.
Every warehouse manager understands how important communication is to the daily activities of the institution. Proper flow of information is essential to ensure employees know what they need to do…
It's no secret that hiring for a senior management position is a tough task for recruiters, and remaining open to changes and seeking better ways to source candidates is critical. That is why building a strong framework for executive hiring that maximizes efficiencies while minimizing cost and time to hire is important.
Proactively identifying and managing procurement fraud is incredibly important when safeguarding your organization’s future. Effective Strategies for Managing Procurement Fraud Regular audits and continuous monitoring play a vital role in identifying procurement fraud. Lets take a look.
As the automotive industry grapples with mounting challenges, a new trend is taking shape a strategic shift toward cash flow management and financial resilience. auto tariffs have reshaped supply chain dynamics, pushing the industry to rethink its approach to financial management in the digital age. The ripple effects of U.S.
If you’re managing inventory for your own business or juggling multiple ecommerce accounts, keeping track of purchase orders and stock levels shouldnt feel like a full-time job. It helps you manage inventory, track POs, pay bills, invoice clients, and more, all in one place. Thats where QuickBooks Online comes in. Lets dive in.
Key takeaways Importance of Procurement Procurement vs. Purchasing Key Functions Departmental Structure Role Descriptions The blog emphasizes the significance of a well-structured procurement department with qualified personnel to achieve organizational objectives.
Flexible fulfillment strategies are more important than ever for those aiming to stay ahead and build resilience as retail enters a new era in 2025. You’ll gain insights into: 📦 Smarter Fulfillment Workflows: Manage diverse product categories, from fast-moving goods to custom furniture or bulk items.
What is Halo Ai HaloAi is a third-party risk management (TPRM) solution that aims to be a one-stop shop for third-party risk so that organizations do not need multiple point solutions. The product is already able to support financial, cyber, geopolitical and economic risk management today, alongside various ESG metrics.
When you look behind the scenes of a global business operation, procurement strategy and supply chain management are usually top priorities, though theyre not always working in sync. The Role of Procurement & Supply Chain in Business Success Procurement and supply chain management play pivotal roles in how a business performs.
In a whirlwind of developments in the world of supply chain management, the latest headlines are buzzing with the news of boeing machinists bringing an end to thier strike. Alongside this, the Institute for Supply Management has also made waves with their latest updates.
Source-to-pay solutions allow organizations to streamline how they manage their procurement lifecycle from start to finish. S2P suites typically cover sourcing, supplier management, contract management, spend analytics, AP automation and e-procurement.
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