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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.
Phase 5: Sustaining alignment success with shared KPIs To ensure long-term cash flow stability and liquidity optimization, organizations must track key performance indicators (KPIs) that align finance and procurement objectives. Percentage of spend under management. Measures real-time cash flow improvements from procurement strategies.
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we spoke with Nick Francis, Chief Technology and Marketing Officer (CTMO) at Commercial Value Management specialist Brooklyn Solutions.
This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive risk management, and deeper integration across the supply chain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
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 manage risk, compliance, and costs.
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. NPV generated over three years for a typical organization. What is Total Economic Impact?
Visit our In-Depth Guide to Risk Management for an explanation of this complex environment. For today’s vendor viewpoint we asked Austin Fuller, Director, Product Marketing at supply chain risk management specialist Exiger Have you witnessed a significant change of appetite for risk-related tech over recent years from your customer base? “Yes,
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.
Following on from Phase 4 Leveraging technology to bridge the Finance-Procurement gap of our In-Depth Guide to aligning finance and procurement, Phase 5 looks at how to measure and sustain that success. Tracking performance over time is key to measuring the business value the collaboration is delivers.
Following the global climate protests that swept the world in 2019, sustainability rose to become a business priority. In our latest study of UK-based procurement, supply chain and finance professionals, we found that 60% of UK businesses have decreased investment in sustainability initiatives as a result of the coronavirus outbreak.
Following months of debate based on extensive knowledge of the many procurement technologies they have demoed, analyzed and benchmarked, they arrive at a list of five young providers that they believe are innovative and exciting, have a rapidly rising presence in the market, can grow sustainably and which every CPO should have on their radar.
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. From there, workflows adapt in realtime.
Sustainable Supply Chain — The Ultimate Guide. The sustainable supply chain is adopted by many companies due to the increasing pressure to demonstrate greater environmental and social responsibility. In this article, we will discuss what a sustainable supply chain is all about. Supply Chain Sustainability: What is it?
Without a core system to track and manage these rules, the risk of non-compliance escalates. AI agents can then access real-time, high-fidelity information, boosting the reliability of their insights. Cross-Functional Visibility: Procurement rarely happens in a bubble. Because the platform enforces data standards (e.g.,
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 risk management.
Supply disruptions and market dynamics impacted many companies because they had limited visibility into their supply chains, no structured risk management programs and inadequate mechanisms to monitor markets.
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?
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?
16th July 2020, London – Research from Ivalua, a leading provider of spend management cloud solutions, has shown that six-in-ten (60%) UK businesses have decreased their investment in sustainability initiatives due to the COVID-19 pandemic. Lack of visibility slowing plans to tackle environmental concerns.
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.
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 risk management in healthcare and improved patient care?
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.
Following months of debate based on extensive knowledge of the many procurement technologies they have demoed, analyzed and benchmarked, they arrive at a list of five young providers that they believe are innovative and exciting, have a rapidly rising presence in the market, can grow sustainably and which every CPO should have on their radar.
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.
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.
Its increasingly evident: GenAI is no longer a future concept; its already reshaping operations in realtime. Traditional procurement teams continue to grapple with familiar, persistent challenges, such as manual data entry, siloed systems, outdated tools and limited visibility into spend categories or supplier performance.
In the Executive Summary to this use case series on aligning finance and procurement for cash flow optimization and liquidity we examined five phases that help organizations break down silos, align priorities and build the operational and technological capabilities needed to manage cash more effectively.
In today's fast-paced business environment, the difference between thriving and struggling often comes down to how effectively a company manages its order fulfillment process. The Flow of Order Picking When a customer places an order, the information flows from the ecommerce platform into the warehouse management system.
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. Join us as we explore how U.S.
Sustainable Procurement Maintain high profitability while moving toward sustainability 4. However, with the advancement of technology, businesses now have access to software that simplifies and automate the entire order management process. Supplier Order Management Software: What it is?
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.
Integrated logistics, also known as integrated supply chain management, refers to the coordinated and seamless management of all the activities involved in the movement and storage of goods and materials. Sustainable Procurement Course Maintain profitability while moving toward sustainability 4.
All of the phases are peppered with real-world case studies from the people who have been in your shoes; so you dont have to step into the same holes theyve already avoided! Core) EcoVadis is a leading vendor in the ESG technology market that provides comprehensive sustainability ratings and insights.
Modern technological tools like AI and machine learning enable companies to forecast supply chain needs, and IoT sensors allow the tracking of products in real-time, which makes operations faster and cheaper. Supply chain management follows the entire production journey from material collection to product delivery to customers.
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. The more sustainable path lies in structured action planning. This makes visibility the cornerstone of any viable tariff management strategy.
Global conflicts, macroeconomic shocks, and shifting global trade routes are all combining to provide real challenges to modern supply chains, and are driving the uncertainty that organizations feel. Businesses should try to leverage real-time data to allow for quick and informed decision-making to minimize delays.
In a 4PL model, the external provider (also known as the lead logistics provider or LLP) manages and coordinates all aspects of the supply chain , including transportation, warehousing, inventorymanagement, and distribution. 4PL providers usually offer more strategic insight and management over the company’s supply chain.
A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority. The Visibility Challenge: Why Seeing Clearly Matters A major insight from the report is the visibility gap, particularly with tier 2 and tier 3 suppliers.
Supply Chain Visibility – An Overcomplicated Challenge! A recent Deloitte survey estimated only 15% of CPO’s have visibility beyond their tier one suppliers. I found this striking that there is so little multi-tier Supply Chain visibility. Visibility comes at a cost – one we’ve spoken about before: trust.
Introduction Radio Frequency Identification (RFID) technology has revolutionized how businesses track and manage their inventory, offering unprecedented accuracy and efficiency for small to medium-sized eCommerce and retail operations. Modern businesses require real-timevisibility into their stock levels, locations, and movements.
Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more. Collaboration brings visibility and agility for gaining market share.
AI in logistics refers to the use of AI-powered solutions to optimize supply chain management, improve decision-making and enhance customer experience. Artificial intelligence is being used to automate routine and time-consuming work in warehouses such as packing and sorting of goods which helps to improve efficiency, reduce errors and costs.
Modern Spend Management and Accounts Payable software. 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. What's PLANERGY? How to report and analyze indirect spend to identify savings opportunities.
These procurement technologies empower teams to move beyond traditional methods, using data-driven insights for smarter sourcing, demand forecasting, and risk management. Impact on Procurement: Spend analytics give CPOs visibility into spending patterns, supplier performance, and inefficiencies.
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