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Ivalua commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study , offering key insights into how companies can unlock substantial financial benefits and operational improvements by adopting Ivalua’s unified Source-to-Pay (S2P) platform. 393% ROI from process automation, better visibility, and replacing old systems.
This shift has pushed supply chain leadership to pivot from reactive management to proactive strategy built on data. In this environment, business leaders need clear, data-based insights to make real-time decisions. Analytics-driven leadership encourages cross-functional collaboration.
From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. These mid-level AI applications dont just save time; they empower procurement teams with better information, stronger supplier relationships and a sharper strategic edge.
AI is the game-changer that allows procurement professionals to escape the cycle of transactional work and focus on what really moves the needle: strategic sourcing, supplier collaboration, and advanced analytics. big data) in realtime, spotting correlations and trends that would otherwise go unnoticed.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data. Learn how he succeeded.
If youre in procurement or supply chain, chances are youve wondered: How can I rethink this process, make smarter decisions, and still save time? Automation within the source-to-pay (S2P) cycle from sourcing to payment is redefining how businesses handle suppliers, contracts, quotes, and payments. What is Source-to-Pay (S2P)?
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?
I have some real context of this, living in NYC and having a family member that works at a hospital. While it is a difficult time, you have to also applaud the heroic efforts of this industry as a whole. Across this supply chain there is typically a lack of visibility due to siloed information and data.
Hansen Procurement strategy, digital transformation, supplier management, sourcing, and ProcureTech evaluation. His work is theoretical, focusing on adaptive systems to predict supplier risks or optimize sourcing. using e-procurement for visibility) support organizations facing disruptions. His practical tech insights (e.g.,
Enhancing supply chain resilience as well as supply chain visibility is crucial in today’s interconnected world. The powerful concept of Supply Chain Visibility lies at the core of resilience. Supply Chain Visibility refers to tracking and monitoring the movement of goods, services, and information throughout the supply chain.
Thats where AI steps in, offering a proactive approach to predicting supplier lead times and optimizing demand forecasts for buyers. It is not only reducing spending on spare parts and improving inventory management, it is helping manufacturers create digital twins of their machinery to anticipate breakdowns before they happen.
Poll Time The following is a poll that was posted in the Global & Purchasing Supply Chain Professionals LinkedIn Group, which has over 164,000 members. Reality: No one invested time in proper training, and category managers are still relying on spreadsheets. What is the edge one driver has over another?
Procurement teams are spread thin and have to manage everything from basic sourcing to board-level ESG compliance. With better visibility and stakeholder alignment, procurement can manage requests more efficiently, reducing risk and boosting resilience. From there, workflows adapt in realtime. AI suggests actions.
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. These portals improve real-timevisibility into purchase orders, payment timelines, and dispute resolution, directly enhancing vendor satisfaction. [5]
Hansens agent-based Metaprise Model directly addresses the core concerns of Chief Procurement Officers (CPOs) by combining human-AI collaboration, real-time adaptability, and ecosystem-wide integration. Example: A global manufacturer unified JD Edwards, NetSuite, and IFS workflows using agents, reducing procurement cycle times by 35%.
Inventory management was rudimentary, often relying on manual processes and paper-based systems. This approach limited visibility and control over stock, leading to inefficiencies and potential stockouts. The Shift Towards Efficiency: Streamlining Operations As supply chains grew more complex, the need for optimization emerged.
This is where strategic sourcing professionals spend most of their time, communicating directly with their top suppliers through an SRM program , and using cutting-edge procurement software to analyze spend and track risk. Even with the help of procurement tech, it takes time and resources to bring an unruly tail spend under control.
It’s a good time to reflect on recent global events and what this should mean for the future. Despite the cataclysmic disruption caused by the pandemic, inertia will prevent real and sustainable progress from being made. And having the courage to implement these changes will be the real test of leadership.
I/T was going to be at the epicentre of the strategic and operational leadership of the company. I/T was going to be a source of competitive differentiation. When the end consumer used a coffee pod the specifics of that actual, realtime consumption would be tracked electronically. Supply Chain Innovation from I/T.
It can open doors to career advancement and leadership roles. Real-World Focus: SCMDOJO courses often incorporate real-world case studies, expert interviews, and practical exercises, ensuring that you gain relevant and applicable knowledge. Moreover, it focuses on practical skills and knowledge that can be applied immediately.
As such we have introduced our “ Seasoned Leadership in Action ™” Interview series. After my time at TNT, I was driving for more than a decade the international expansion of French La Poste. Adoption of visibility solutions is increasing. Thought leaders are researching and publishing all the time.
It integrates with cost accounting systems to track spending, ensures smoother workflows for accounts payable and accounts receivable, and provides real-timevisibility into purchasing activities. By providing real-time insights, it helps businesses identify unnecessary spending and make informed decisions to optimize budgets.
But, as stakeholders in the future of tomorrow, we also have to be conscious about the necessary steps to realize sustainable impact, for real. So, what are the steps that need to be taken in businesses globally to make real sustainable impact? Sustainability is created at the source of our products, services, and consumption.
Check out Control Towers – Is Yours Real or Just Smoke and Mirrors? Every research firm and vendor has their own definition, but all share the common theme of visibility. A traditional control tower provides visibility to immediate trading partners only. So, control towers are an attempt to combat it with visibility.
Even before the pandemic occurred, it was standard practice in most companies to have a Supply Chain team that had to react in realtime to unforeseen circumstances. I’ve lived through these nightmare scenarios many times, as a high-priced expediter. The result is that they continue to spend all their time fighting fires.
When it comes to managing a supply chain, having access to real-time data can be a game-changer. By providing visibility into every aspect of the supply chain, companies can identify bottlenecks, reduce waste, and minimize delays. This can result in faster delivery times and improved customer satisfaction.
To avoid this pitfall, it is necessary for public procurement teams to routinely review the entire process and challenge steps to ensure that requirements are necessary to meet rules or requirements and/or deliver real value. . It is vital that public procurement teams develop a data insight strategy to gain visibility into their operations.
It hosts global events, supports startup innovation, and provides thought leadership to procurement professionals seeking digital transformation. Global Reach, Real Impact Participants and speakers come from over 50 countries. Smaller companies might struggle with the cost-benefit ratio for limited booth or stage time.
Procurement professionals focus on sourcing goods and services, negotiating with suppliers, and managing contracts. It involves sourcing the right suppliers, managing tenders, negotiating contracts, and ensuring value for money. This is critical in times of disruption.
Now, I know settling into a new role can take a little time, so I don’t want you to feel under any pressure to make any significant impact straight away. I wouldn’t expect any real results from you until you’ve spent a month or two reviewing our current supplier arrangements.” “Hmm Step 1: Gain visibility of spend data.
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Thanks to AI and other tools, you can now make better decisions with real-time data. Let’s delve into the details.
Excluded from planning meetings and strategic decisions, and with a team lacking the knowledge and relationships to drive real change, procurement was extremely decentralised, in control of just 30% of global spending and focused mostly on tactical, transactional activities. Creating a procurement centre of excellence.
New platform release features a broad set of enhancements across Ivalua’s complete Source-to-Pay suite, including deep integration with Amazon Business. Out-of-the-box integration to Tealbook now enables customers to discover new suppliers with a single click and access a high-quality source of supplier information.
Like most thought leadership conferences, there were round-table discussions facilitated by a seasoned industry veteran. He talked about how that experience with power was a real high at times. Without good visibility and frankly, transparency, any collaboration is hard. Critical tribal knowledge is not documented.
New Risk Center adds capabilities and integrations to extend existing leadership in enabling holistic management of supplier risk. This combined picture is visible in actionable dashboards to provide a comprehensive and timely picture of risk and the potential impact on the business.
The huge growth in the use of technology has been the most visible part of that developing picture. I first saw this term used a few years ago by Philip Ideson, as a title for his website and excellent series of podcasts, and it feels like this may be an idea whose time has come.
As such we have introduced our “Seasoned Leadership in Action ” Interview series. Thank you Bronwen for your friendship, your support of Supply Chain Game Changer, and taking the time to share your experiences and expertise with us. This interview is with Bronwen Hann, President at Argentus. How quaint is that?
As such we are introducing a new “Seasoned Leadership in Action ” Interview series at Supply Chain Game Changer. My start in supply chain was a bit unknowing at the time. Some parts were manufactured internally and most others were sourced around the world. They challenged us to be much better than we were.
As a result, businesses can optimize their logistics processes using Orchestration and save time and resources. This technology allows businesses to monitor their supply chain from order placement to final delivery in real-time. This increased visibility leads to more efficient supply chain and inventory management.
As such we have introduced our “ Seasoned Leadership in Action ™” Interview series at Supply Chain Game Changer. It is great to see Derek Panchyshyn bring his extensive experience and leadership skills to ATX Networks. This interview is with Derek Panchyshyn. I first met Derek while at Celestica.
Simple changes like consolidating suppliers, negotiating better contracts, and improving order planning can lead to real savings over time. If your current process feels reactive, disconnected, or overly manual, it might be time to rethink your approach. The result? A more sustainable and profitable business.
The preliminary run uses the RAM 4-Model Assessment tool to access the Procurement Insights proprietary archives and many cross-reference sources using my AI for AI platform. Integrations and Ecosystem 130+ Integrations: Seamlessly connects with major enterprise systems, data brokers, and compliance databases for a unified source of truth.
His ability to consistently achieve high levels in both organizational and individual goals, regardless of the setting, is a testament to his adaptive and dynamic leadership style. Not having that visibility is a real challenge for organizations… getting the parts they need at the right time… and the ongoing labor issues.”
Integrated planning incorporates supply chain planning, demand planning, and demand forecasts so the company can quickly assess the impact on inventory levels, supply chain logistics, production plans, and customer service capacity. Data integration and analytics IBP relies on the integration of data from different sources and systems.
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