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4 Key Trends Reshaping Manufacturing Procurement in 2024

Arkestro

According to Deloitte, the manufacturing industry was in contraction throughout most of 2023 due to challenges like increased lead times, tight labor markets, and rising costs. In fact, manufacturing procurement has never been more important, holding the power to influence IT, finance, and C-suite decision-making. Sustainable bidding.

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Why Predictive Procurement in Health and Pharma is the Future

Arkestro

From April 2021’s “ A New Paradigm For Procurement ”: “As enterprises increasingly depend on an expanding and evolving supplier ecosystem, better optimization of strategic planning and procurement is paramount. We all remember the early days of the pandemic and shortages in critical medical supplies. The stakes couldn’t be higher. .

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The Impact of Digital Transformation on Spend Analysis

Empowering CPO

By analyzing and understanding how an organization spends its resources, businesses can identify cost-saving opportunities, enhance supplier relationships, and drive overall efficiency. Traditional approaches to spend analysis relied heavily on manual processes and limited data visibility.

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Innovative Procurement Models: Exploring Different Approaches

Empowering CPO

It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. These models are often accompanied by practices such as annual rate contracts, bulk buying, and just-in-time purchasing. But, it’s far more than just buying.

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Technology Support in Integrated Business Planning: Automation, Augmentation and Human Centricity

Supply Chain Trend

IBP requires cross functional alignment to eliminate silos, to achieve accountability for delivering strategic, financial and operational outcomes, and to enable scenario planning that provides forward visibility into the consequences and risks of decisions (Sorensen, 2020). Automation versus Augmentation.

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The Resilient Supply Chain! Passing Fad or Long Term Strategy?

Supply Chain Game Changer

Just saying you want to have a resilient Supply Chain doesn’t accomplish anything. According to mixmov.io , “Supply chain resilience is a supply chain’s ability to be prepared for unexpected risk events. Stuff happens, and it happens all the time.

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IBM Connected Trade Platform helps power the digitization of trade and supply chain financing

IBM Supply Chain Blog

Today, we are seeing significant digital disruption in the business of trade and supply chain financing that is largely influenced by global events and geopolitics, changing regulations, compliance and control requirements, advancements in technology and innovation, and access to capital.