article thumbnail

How the importance of risk management has changed for procurement – and what to do about it

Spend Matters

Traditionally, procurement was very focused on a firm’s financial health, and controls regarding these aspects have been in place for quite a long time (this is why all major supplier management solutions have had D&B integrations for more than 20 years). But we learned some other really important things from that as well.”

article thumbnail

UK Import and Export Statistics 2023

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter UK Import and Export Statistics — 16 Key Facts and Figures According to the World Bank’s data, the United Kingdom with a population of 67 million people recorded a $3.2 billion in import goods in January 2023.

Export 210
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The power orchestration play: Supplier management

Spend Matters

Because they are embracing orchestration capabilities to coordinate supplier facing processes across business units and functions and adding value within those orchestrated workflows. Value generation : Beyond savings, orchestrated procurement focuses on innovation, supplier enablement and enterprise agility. AI suggests actions.

article thumbnail

Friends not Foes, Supplier Relationships Made to Last

ivalua

A company’s supply chain is a key source of competitive advantage and Supply Chain Management (SCM) is designed to allow a company to monitor its suppliers and utilize the available resources to improve performance. Let’s address why having the right supplier information and supplier relationships is a must. .

Suppliers 246
article thumbnail

The 3% myth: Why suppliers are willing to pay for virtual cards

Spend Matters

These virtual cards enhance control and visibility over spending while simplifying the payment processes for suppliers and vendors. The surprising truth behind a 3% fee Imagine youre a supplier juggling tight margins, long payment cycles, and increasing operational demands. What may seem like a burden is, in fact, a savvy investment.

Suppliers 108
article thumbnail

Supplier Assessment — Embracing Sustainability in Procurement

Procurement Tactics

18 Must-Have Negotiation Skills For Procurement Professionals Download Course Details →  Or receive our famous weekly newsletter Supplier Assessment — Embracing Sustainability in Procurement Supplier assessment is needed when selecting the right supplier to achieve sustainability in your procurement process.

article thumbnail

Simplify Supplier Sustainability Evaluation (+ An Exclusive Template)

Skill Dynamics

As a procurement professional, ensuring your suppliers are acknowledging the role of sustainability within their practices is highly important for, not only the obvious – improving the planet – but building effective relationships and meeting your company’s objectives.