This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Strategicsourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. StrategicSourcing: The Foundation of Effective Procurement Strategicsourcing is far more than simply choosing suppliers. Click here!
Complete Source to Pay cycle and StrategicSourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. What is Source-to-Pay?
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.
Key metrics were tied to cost reduction and spend under management. Minimal Strategic Involvement : Procurement was often siloed, with limited involvement in broader corporate strategies. Collaboration with finance was transactional rather than strategic. Analytics and insights from procurement data were minimal.
Effective lead time management is essential to avoid operational disruptions. By anticipating supplychain fluctuations, securing backup suppliers, and improving communication with vendors, you can minimize delays and ensure a steady flow of materials. To stay ahead, regularly reassess your supplychain strategy.
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.
The most recent Hackett Group Report highlights key priorities reshaping procurement in 2025, including technology adoption, the rise of Generative AI, and managing emerging risks. However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management.
For many enterprise teams, managing indirect spend feels like a reactive process that’s out of sync with business goals. A unified procurement platform will help your team manage indirect sourcing with the same discipline as you manage direct procurement. What Is Indirect Procurement?
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!
Supplier Collaboration vs. Supplier Relationship Management What good is having the best suppliers if you can’t communicate well enough to leverage their products and skills? The primary goals of SRM are to foster hand-in-glove supplier relationships, manage risk, and optimize the value chain.
Modern Spend Management and Accounts Payable software. How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. 6][7][9] Procurement in 2025 is evolving fastbalancing operational demands, strategic decision-making, and digital innovation. What's PLANERGY?
We'll provide actionable mitigation strategies tailored for growing e-commerce operations, with frameworks for building long-term resilience. Discover how inventory planning software and improved lead time management can transform these challenges into competitive advantages.
Benefit: Improved sourcing could yield 510% cost savings on annual spend. Tariff Mitigation and Risk Management: Hansens insights on supplychain risk (e.g., For example, his archives might guide a company to diversify suppliers, avoiding high tariffs on Chinese imports (a key issue in 20242025, per SupplyChain Dive).
Detect, Diagnose, Direct Figure 1 The work of managing the value network has consisted of making the best plan, monitoring issues, and responding effectively and efficiently. Figure 3, below, shows examples of both incidental/operational and systemic/strategic challenges for all three dimensions of the 3-D Cycle.
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.
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.
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.
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. Create speed and transparency.
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.
While the procurement industry is consistently evolving and shifting, supplymanagement professionals across the globe have had to quickly prepare for change and innovation in technology, business regulations, and the general speed of commerce. . The Criticality of the SupplyChain (and Suppliers). More on that here.
Shoring up staff is a good way to increase supplychainresiliency, which companies are trying to do more of today to ensure theirs has what it takes to stay together when it's taxed in the future. Brought to you by the StrategicSourceror.
In a series of interviews which took place during the World Procurement Congress 2022 (WPC) in London, we spoke to a number of thought-leaders and experts from the Procurement and SupplyChain industries on their opinions on Supplier Experience Management (SXM) and the future of Procurement.
Sometimes, digitalization requires change management, process shifts, and organizational restructuring. The inner ring & central focus areas being: StrategicSourcing Contract Management Requisitioning Purchasing/Spot Buys Payment Spend Analysis. appeared first on SupplyChain Game Changer™.
Understanding Offshoring, Onshoring, Nearshoring, and Rightshoring in Procurement Explore the nuances between offshoring and other approaches to procurement and how each one can impact the bottom line, supplychainresilience and overall strategic objectives.
Procurement is no longer just about sourcing goods and services; it’s about creating strategic alliances, driving innovation, and adding value to the organization. This is where the concept of managed procurement services comes into play. The role of procurement services in businesses is multifaceted.
Here are the top 3 concerns likely to dominate the agenda for CPOs in 2025: SupplyChainResilience and Risk Management Sustainability and ESG Compliance SupplyChain Visibility Conclusion: CPOs in 2025 will need to navigate a complex, fast-changing landscape shaped by technology, sustainability, and global uncertainty.
It’s a strategic function that involves understanding market trends, analyzing suppliers, negotiating contracts, and managing relationships, among other tasks. Procurement is central to a business’s operations, with a purpose that encompasses cost-efficiency, quality control, risk management, and strategicsourcing.
How strategicsourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Supplier risk is always there, but using various risk management strategies can help you minimize the impact. How to report and analyze indirect spend to identify savings opportunities.
By measuring key aspects of the procurement process, these metrics provide insights that can drive significant improvements in cost-efficiency, operational performance, and supplychainresilience. KPIs make the procurement process more transparent and manageable. Case Study: Successful Application of Procurement KPIs A.
This facilitates better supplier relationship management, enhances transparency, and enables effective supplier performance monitoring. Strategic Supplier Management: Digital tools enable comprehensive supplier performance monitoring and evaluation. These systems offer a centralized source of data for spend analysis.
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? Developing and executing category strategies is critical to effective strategicsourcing.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content