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How the importance of risk management has changed for procurement – and what to do about it

Spend Matters

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. So these real-life practical considerations also come into play for the practitioner, and finding alternative sources of supply becomes a priority.

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Aligning Finance and Procurement – Phase 4: Leveraging technology to bridge the Finance–Procurement gap

Spend Matters

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.

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The Best Ways to Use Project Management to Build Resilient Supply Chains Amid Global Disruptions

SCMDOJO

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. Enhance visibility across the supply chain through structured reports.

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AI in procurement: How different industries are harnessing its power

Spend Matters

With raw materials, equipment and maintenance making up the bulk of their expenditures, procurement professionals in manufacturing are turning to AI to gain deeper insights and stronger control over their supplier networks. Supply network modeling, now integrating large language models (LLMs), allows for precise tracking and material tracing.

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Best Practices & Strategies for Supplier Risk Management

TYA Suite

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.

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Ivalua Launches Enhanced Third-Party Risk Management Capabilities

ivalua

Customers are able to consolidate real-time information spanning supplier performance evaluations, transactional data, spend data, contractual information and external risk information from major third-party data providers. The post Ivalua Launches Enhanced Third-Party Risk Management Capabilities appeared first on Ivalua.

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See Through Disruptions: How Supply Chain Visibility Builds Resilience

SCMDOJO

However, they are also susceptible to disruptions and risks. 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.