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This article will explore key strategies for building supplychainresilience, and how Skill Dynamics can help support your business throughout this transformation. A lack of resilience can cause disruptions and delays to sourcing, transportation, or even manufacturing all of which lead to higher costs.
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChainResilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Create speed and transparency.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend. The result was a year-over-year savings of more than 3%.
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. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychainresilience and agility in times of crisis. There are many supplychainmanagement lessons to learn from the Covid-19 crisis.
The past 18 months has shined a light on the criticality of an effective supplychain and procurement management. COVID-19 had an almost immediate impact on supplychains, as factories closed down and transport was restricted and organizations tried to pivot to remote work. View Full Replay.
For a long while, businesses have sought to minimize their fixed costs in sourcing. The post SupplyChainResilience Strategy: Everything You Need to Know appeared first on ProcurePort Blog. The impact of unexpected disruptions should not result in wholesome halting and devastating losses to the affected businesses.
In a strategic dance of adaptation, household giant Clorox is contemplating a delicate tango of sourcing shifts to counterbalance the looming impact of a hefty $100 million tariff blow. This strategic evaluation involves meticulously analyzing sourcing alternatives and potential partnerships to navigate the evolving trade landscape.
Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. Strategic sourcing plays a critical role in this transformation, ensuring organizations secure the best value while mitigating risk.
From this discussion, we compiled a list of 8 critical supplychainmanagement activities that to improve, build, and maintain supplychainresilience now and in the years to come. But building an agile, resilientsupplychain doesn’t happen overnight; it requires forethought and planning.
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.
Many businesses go to market for solution support within supplier management with ESG/Corporate sustainability as a primary compelling event, or driving factor. Customer requirements on more sustainable products/services, and/or requests for supplychain transparency/due diligence.
Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? Sustainable master data management and governance: As much as 55% of projects fail due to data management issues.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychainmanagement activities that can help Procurement teams build and maintain supplychainresilience now and in the years to come. They see the value proposition,” Kunnummal said.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supplychain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
One of the most effective strategies for building resilience is integrating project management into supplychain operations. A well-managedsupplychain does not just survive crises it thrives in them. By using its main principles, companies can: Identify risks early and develop contingency plans.
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychainmanagement lessons to learn from the Covid-19 crisis. Supplier Data Quality & Management in Decision Making. Risk & Performance Management.
The company’s commitment to efficiency and operational excellence will play a crucial role in managing tariff-related uncertainties, ensuring sustainable growth and profitability in the long run. One key aspect of GM’s tariff mitigation strategy has been the implementation of innovative supplychain solutions.
New platform release features a broad set of enhancements across Ivalua’s complete Source-to-Pay suite, including deep integration with Amazon Business. Redwood City, CA – Feb 24, 2021 – Ivalua , a global leader in Cloud Spend Management solutions , today announced the general availability of its new platform release 168.
From overcoming complex challenges to spearheading innovative initiatives, their insights have inspired us to redefine the limits of what’s achievable in procurement and supplychainmanagement! Brent Griffith Day 2: More Keynotes, Sessions, and Silent Demos!
Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Sourcing locally is not just beneficial for individual businesses but the entire local economy.
Supplychains are complex and varied; to manage them effectively, you need to understand exactly what’s happening in both your supplychain and your customers’ end markets. But most sourcing and procurement teams need to pivot and modify the way they handle SCM decisions.
This leap in AI capabilities is revolutionizing industries, and AI-driven supplychainmanagement is no exception. Agentic AI takes this a step further by enabling autonomous supplychain systems. Enhances AI-driven supplychainresilience. Here are some leading innovators in this space: 1.
A shift to shorter supplychains not only helps manage the unpredictability of costs, but also strengthens supplychainresilience by reducing dependency on distant suppliers.
In a whirlwind of developments in the world of supplychainmanagement, the latest headlines are buzzing with the news of boeing machinists bringing an end to thier strike. Alongside this, the Institute for SupplyManagement has also made waves with their latest updates.
Redwood City, CA – March 24th, 2022 – Ivalua, a global leader in spend management, today announced that it has been named a leader in The Forrester Wave : Supplier Value Management Platforms, Q1 2022. Ivalua is honored to be recognized in this important evaluation covering a broad range of Procurement and SupplyChain processes.
What Is AI in Supplier Management? AI in supplier management is the use of artificial intelligence (AI) technologies to streamline and enhance various supplier-related processes. What is the use of AI in supplychainmanagement? What is the role of AI in supplier relationship management?
I can help procurement practitioners dramatically improve ProcureTech implementation timelines, ROI, supplychainresilience, risk management, tariff management, and overall implementation success. So, here are my answers to both questions: YES and YES! And just remember, YOU asked me!)
Using the 4-Model RAM assessment framework, what are the top five procurement and supplychain issues the following industries face in 2025: Finance, Energy and Utilities, Pharmaceuticals, Food and Beverage, and Automotive? So, who is more accurate in their assessment?
In the hyper-connected global economy of the present day, supplychains traverse continents, cultures, and myriad communication barriers. Having access to an audio translator can be the difference between quick resolution of issues and ballooning interruptions throughout the supplychain.
auto tariffs are being felt across global supplychains. As the automotive industry grapples with mounting challenges, a new trend is taking shape a strategic shift toward cash flow management and financial resilience. Impact of US Auto Tariffs on Global SupplyChains Amid escalating tensions over U.S.
Key metrics were tied to cost reduction and spend under management. 20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and risk management.
In a world that feels like it is constantly teetering on the edge of chaos or permacrisis, procurement professionals must master uncertainty by building resilience and agility. And one way to do that is to rethink where organizations source from.
As the procurement industry and supplychains become more tech-driven and complex, one fact is clear: companies that embrace industry trends will be best positioned to thrive in the challenging procurement landscape of 2025 and beyond. Here are five key trends that will shape procurement and supplychainmanagement in the coming year.
Subscribe to SupplyChain Game Changer. Resilience is the New Critical SupplyChain Strategy! SupplyChainresilience article and permission to publish here provided by James Liang from Power RFP. Our world lives in a hyper-global supplychain environment. SupplyChainResilience.
Goods arrived exactly when needed, waste and holding costs were kept to a minimum, and single source strategies prevailed due to ease and cost savings. Then, 2020 sent shockwaves through many JIT strategies; the disruption was just too big to absorb and supplychain ecosystems had not been built to flex.
The impending transformation, outlined in a recent report by Supply and Demand Chain Executive, is set to reshape the vrey foundation of how goods and services are sourced, managed, and delivered. Heightened focus on demand forecasting and inventory management.
Ivalua Spend Management Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. We’re seeing a lot of interest in ESG, specifically on the topic of measuring and managing carbon emissions,” he said. “At
Through the strategic implementation of AI solutions, companies can unlock a myriad of benefits, including predictive analytics for demand forecasting, automated inventory management to minimize stockouts, and real-time monitoring for enhanced visibility across the entire supplychain.
How Predictive Procurement Has Become a Game Changer for High-Tech Manufacturing To stay competitive, high-tech manufacturers are increasingly adopting Predictive Procurement technology to gain greater agility, cost savings, and enhanced supplychainresilience. Subscribe to news from Arkestro. You can unsubscribe at any time.
Below is a ranking from highest to lowest focus on procurement and supplychain practices, as of April 4, 2025, based on their stated missions, agendas, and historical emphasis. While supplychain is addressed, its secondary to procurement excellence, making it a top pick for procurement specialists seeking practical tools.
Ivalua Spend Management Insights [ivory-search] Procurement Rising: The Silent Inflation Tax on Manufacturers February 27, 2023 | | Manufacturing by Doug Keeley Last year, the Consumer Price Index was the highest it has been in four decades, making inflation one of the most concerning macroeconomic factors facing the business world today.
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