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Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
To round off that perspective we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. Today, just the combination of the words risk, environment and supply chain make the practitioner sit up and think differently. And Stephen is not alone.
To round off that perspective, we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise riskmanagement differ significantly. What Does Procurement and Purchasing Mean for Enterprises?
Rising software costs, lack of procurement oversight, compliance headaches, and clunky vendor management. Many organizations are discovering that without clear procurement software best practices, costs spiral, risks multiply, and efficiency stalls. Sound familiar? If you’ve been feeling the pressure, you’re not the only one.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. Key Takeaways Legacy procurement processes limit scale, speed, and visibility, making it harder to managerisk, compliance, and costs.
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. It forms the foundation of digital procurement, enabling better spend visibility, improved compliance, and faster, more efficient operations.
Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. 393% ROI from process automation, better visibility, and replacing old systems. 393% ROI from process automation, better visibility, and replacing old systems.
Helping businesses reduce the risk of supply chain disruption, optimize inventory levels and make better buying decisions. Redwood City, CA, July 13, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its Procure-to-Pay solution with a new Inventory Collaboration capability.
Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. One of the most effective strategies for building resilience is integrating project management into supply chain operations. A well-managed supply chain does not just survive crises it thrives in them.
Supply disruptions and market dynamics impacted many companies because they had limited visibility into their supply chains, no structured riskmanagement programs and inadequate mechanisms to monitor markets. This content is for members only. Visit the site and log in/register to read.
Without a shared measurement framework, procurements financial impact may go unnoticed, and finance may lack visibility into cost savings, supplier risk and payment efficiencies. ” The following section outlines essential KPIs and performance review mechanisms that drive accountability and enhance financial visibility.
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.
The modern procurement leader must managerisk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Externally, risk and compliance obligations mount, supply chains are stretched and stakeholder expectations broaden. From there, workflows adapt in realtime.
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. Despite the startup’s relatively modern infrastructure, tech-savviness and streamlined vendor base, I observed that third-party risk challenges persisted. What are Halo Ai’s greatest strengths?
Ruth Orenstein , Senior Director of Product Management at global finance automation specialist, Tipalti, shares what their customers are looking for from their digital procurement investment. Approval lead time is another important metric. Lastly, customers measure annual dollar savings to demonstrate tangible financial returns.
From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. AI also enhances supplier profile management, enriching, verifying and completing supplier data to provide a more comprehensive view of risks and opportunities.
Heres where e-procurement processes often break down: Fragmented catalog and supplier management: Inconsistent supplier onboarding and unstructured catalogs result in pricing discrepancies and procurement delays. Approval workflow bottlenecks: Manual approvals cause delays, increasing cycle times and reducing procurement efficiency.
Procurement success in 2023 with our Strategy Course Download Course Details → Or receive our famous weekly newsletter What Are the Benefits of Having a Transport Management System? A transport management system is an innovative software used to make the transportation of goods and services throughout a company more efficient.
For example, a single contract negotiation might involve supplier performance data, legal terms, payment histories, and risk assessments. Without a core system to track and manage these rules, the risk of non-compliance escalates. Cross-Functional Visibility: Procurement rarely happens in a bubble.
When these priorities are not harmonized, misalignments emerge that can weaken cash flow management and working capital optimization. ” This impacts both cash management and financial reporting. Without an integrated process, organizations experience: Long invoice processing times, leading to unpredictable cash outflows.
their new real-time optimization tool, stocktitan, aims to revolutionize the way businesses navigate disruptions and ensure seamless operations. let’s delve into the world of AI in supply chain management and explore the potential of Logility’s game-changing innovation.
Complex processes demand ever faster response times and decisions across the entire supply chain. The concept of real-time IT is becoming a key theme, especially in the business sector of…
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without the right tools, procurements contributions to financial strategy can remain disconnected from budgeting, forecasting and riskmanagement.
The past few years have highlighted serious deficiencies in prevalent supply chain strategies and the major risk that disruptions pose to corporate success. Loss of sales and market share are the most visible and measurable impacts. Common Supply Chain strategies, such as just-in-timeinventory, exacerbate the impact of shocks.
Supply chain reports are data-driven documents that provide key metrics and insights into various aspects of your supply chain, including: Inventory Levels Tracking stock levels in real-time to ensure adequate inventory to meet demand while minimizing holding costs.
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. To potential buyers — True ValueHub can save category managers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. big data) in realtime, spotting correlations and trends that would otherwise go unnoticed. Optical character recognition (OCR) digitizes invoices and contracts, eliminating time-consuming manual data entry.
With supply chains stretching across borders and relying on multiple vendors, the risks are highbut so are the opportunities. In this article, well explore proven strategies to safeguard your supply chain, minimize risks, and keep your business running smoothly, no matter what obstacles lie ahead. Evaluating these risks is essential.
Manually managing processes no longer keeps up with todays business demandsand thats where AI-powered solutions step into the spotlight. Lets dive deeper into how integrated service management can help your company grow. Service Management Is EvolvingIs Your Operation Keeping Up?
Each function’s objectives often overlap, particularly in areas such as financial reporting, cost management, budgeting and data-driven decision making, so when procurement strategies align with finance-led initiatives, organizations gain greater financial visibility, improved efficiency and stronger risk control.
From extraction and processing to distribution and end use, managing the flow of resources like oil and gas requires more than logistical coordination; it demands financial precision, strategic foresight, and real-time adaptability. It’s about capital flow, asset risk, and regulatory layering.
Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain riskmanagement in healthcare and improved patient care?
For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses. Evaluating mitigation options , including: Advanced purchasing or inventory building to front-run tariffs. Contract rebalancing to shift tariff liability.
Bonus PDF: 51 ChatGPT Prompts to 10X Your Productivity in Procurement Download 51 Prompts → Or receive our famous weekly newsletter InventoryManagement — Everything You Should Know Inventorymanagement enables companies to ensure that they always have enough stock to fulfill customer orders. However, what is it?
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Ivalua’s Contract Management module allows you to easily track milestones and consumption in realtime across multiple agreements.
This introduction to supplier riskmanagement outlines the importance of effectively identifying and managingrisks that may arise from suppliers. Supplier riskmanagement is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.
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.
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Ivalua Spend Management Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | Supply Chain by Vishal Patel Cost, Risk, and Sustainability. The question is, how do you balance all three while maintaining continuous operations and generating revenue at the same time?
Modern procurement needs have far surpassed transaction management; procurement is now a critical component in driving strategic value across businesses and AI has become a key tool in procurement teams back pockets. This means better compliance, fewer disruptions and greater efficiency in managing supplier relationships.
It requires a structured approach to ensure financial visibility, riskmanagement and cash flow efficiency. Before structuring a solution, organizations must clearly define how finance-procurement misalignment impacts cash flow management. Does finance have access to real-time supplier payment obligations?
Today Tom Burke, Portfolio Product Manager at CargoWise Landside, joins me to talk all about how drayage rating and quoting best practices can improve supply chain management, visibility, and logistics execution. Later that year, he launch TRX Trucking which grew to over 400 trucks and nine terminals nationwide.
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