Empowering CPO

JULY 2, 2023

One of the key areas we focus on is enhancing supplier risk management through our managed procurement services. Supplier risk management is an integral aspect of procurement, tasked with identifying, assessing, and mitigating risks associated with a company’s supply chain.

Risk management 40

Risk management Risk Suppliers Management 40

Supply Chain Game Changer

JANUARY 30, 2020

Around a decade ago, the main risks were component shortages, supplier failures and commodity price volatility, though by 2017, these had evolved into three distinct groups including: IT security incidents Supplier facility destruction due to natural disaster Geopolitical concerns such as war and terrorism. Says Mary G.

Risk management 71

Risk management Supply Chain Efficiency Risk Supply chain 71

Procurement Tactics

JUNE 28, 2023

Demand is affected by changes in supply and lower supply means higher prices and vice versa. Increases in prices mean increased production costs and higher inflation rates. Agricultural commodity changes are a great factor in food price trends while price fluctuations in metals and minerals affect the Manufacturing Sector.

Raw materials 178

Raw materials Supply Chain Efficiency Price Market analysis 178

Value Match

JUNE 13, 2022

Responsible Organisational Management. During May, India announced its wheat export ban after a season of exceptional hot weather affected their crop sending domestic prices soaring. What are the risks involved in your Supply Chain? This contributed to rise in prices and knock-on delays. Social Value. Training Resources.

Risk management 52

Risk management Supply Chain Efficiency Risk Supply chain 52

ProcurePort

AUGUST 15, 2022

• Vendor management is the sum of all activities a company undertakes to maximize the value of the relationship they have with its vendors. This includes but is not limited to listing probable vendors, comparing prices, quality checks, cost control, and risk management. The post What is Vendor Management?

Vendor management 130

Vendor management Management Risk management Quality 130

Spend Matters

APRIL 4, 2024

As detailed below, the analysts’ work in Q1 took a special interest in solution providers that tackle issues of supplier risk management. Halo Ai addresses third-party risk management problems by consolidating supplier data into one platform with the goal of becoming a one-stop-shop for TPRM.

Procurement 85

Procurement Risk management Raw materials supply chain software solutions 85

The Procuretech Podcast

OCTOBER 12, 2021

Hot Digital Procurement and Supply Chain Startups in the ESG and Risk Management Space. On this episode, we’re looking at startups whose mission is solving problems in the rapidly growing and increasingly important ESG and Risk Management area. Next up is Harald Nitschinger, CEO of risk management solution Prewave.

Risk management 40

Risk management Risk Supply Chain Efficiency Management 40

Procurement Leaders

JANUARY 16, 2023

. “The executive team has acknowledged the procurement team’s work in keeping product on the shelf, managing cost and managing inflation. ” Leveraging long-standing risk management expertise. ” Despite the headwinds, Stroup is proud of her function’s risk management efforts.

Risk 246

Risk Management Risk management Strategic planning 246

Spend Matters

MARCH 25, 2024

Here’s why Canopy matters: To the market — Canopy offers a solution to improve supplier management (SIM, performance and risk) meant for small to midsize organizations that may not have the resources for more expensive solutions, a long-standing issue in the industry. This content is for members only.

Suppliers 90

Suppliers Risk management Data Buyers 90

Procurement Templates

APRIL 15, 2024

Stage 6: Risk Management Days 51-60 Risk Assessment: Conduct a comprehensive risk assessment to identify potential risks related to suppliers, contracts, and operations. Mitigation Strategies: Develop and implement risk mitigation strategies to minimize exposure and ensure business continuity.

Procurement team 130

Procurement team Contract management Innovation Suppliers 130

Procurement Leaders

FEBRUARY 3, 2023

Price is important, but during the last two years price was the last of our concerns. It was security of supply, risk management, understanding our supply chain. ” Such actions have, for example, enabled DuPont to leverage procurement data to inform price increases.

Risk 130

Risk Risk management Import Price 130

Spend Matters

JANUARY 31, 2023

Categories: Diversity , E-Sourcing , Procurement Strategy & Planning , Supply Risk Management Tags: sponsored post Stakeholders of all stripes want companies to do more when it comes to promoting sustainability and combating climate change; that includes investors, employees, customers and those in the community said business serves.

Procurement strategies 78

Procurement strategies Risk management Procurement team Risk 78

Spend Matters

JANUARY 2, 2024

After the last few tumultuous years, procurement teams are still facing steep challenges in getting ahead of supplier and supply chain risks. Some organizations have opted to invest in new, more robust supplier and third-party risk management (TPRM) systems, while others are optimizing their existing systems.

Risk 80

Risk Suppliers Raw materials Risk management 80

Procurement Templates

APRIL 15, 2024

Companies that prioritize cost-saving may have procurement managers who focus on negotiating the best prices and terms, while organizations that value innovation may emphasize collaboration with innovative suppliers. Stakeholder input, expectations, and feedback can influence procurement strategies and decisions.

Influencing 130

Influencing Negotiation Risk Innovation 130

Procurement Tactics

MAY 24, 2023

These KPIs might include factors such as on-time delivery, product quality, pricing, responsiveness to inquiries, and customer service. Pricing Performance Pricing is an important point when choosing a supplier. Benefits of Scorecards in Vendor Management Here are some of the benefits that you can gain by using scorecards: 1.

Supply Chain Efficiency 186

Supply Chain Efficiency Vendor management Negotiation Quality 186

Procurement Tactics

JULY 17, 2023

Lastly, contract management tools assist with risk mitigation and compliance. They send automated alerts and reminders for critical contract milestones and obligations, enabling proactive risk management and preventing costly penalties. In terms of pricing, We all want to be smart with our cash, right?

Contract management 189

Contract management Contract Management Negotiation 189

Procurement Tactics

JUNE 28, 2023

It typically looks for details such as supplier information, item descriptions, quantities, prices, or arrival dates. Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial. Documents concerning the contracts shall also be undertaken.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

Procurement Templates

MARCH 3, 2024

This involves assessing suppliers’ capabilities, pricing, quality standards, and reputation. This involves categorizing expenditures, identifying top suppliers, analyzing price variances, and assessing demand patterns. Understanding market dynamics helps in making informed sourcing decisions and mitigating risks.

Strategic sourcing 130

Strategic sourcing Strategic sourcing Sourcing Supply Chain Efficiency 130

Procurement Leaders

MARCH 6, 2023

Since the outbreak of Covid-19, the function has been called upon to ensure continuity of supply, source essential safety equipment, tackle the challenge of soaring prices and ensure that logistics routes continue to flow. It’s always going to be sexy to save money. The question is: what are the other areas on which we can focus?”

supply chain budgeting 189

supply chain budgeting Suppliers Risk Procurement 189

Procurement Tactics

MAY 30, 2023

They manage the sourcing and purchasing of goods and services that the organization requires to operate effectively. Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish.

Management 178

Management supply chain budgeting Procurement Negotiation 178

IBM Supply Chain Blog

FEBRUARY 13, 2024

Cost savings Selecting suitable suppliers to meet long-term business needs often results in contracts with more advantageous pricing and payment terms (like bulk pricing and reduced fees). It also can help optimize transportation costs and service-level agreements as well as improve inventory management and visibility.

Strategic sourcing 83

Strategic sourcing Strategic sourcing Supply Chain Efficiency Supply Chain Optimization 83

Procurement Tactics

APRIL 5, 2023

Risk management Refusing to adopt sustainability has its own consequences and can severely affect the brand value, reputation, market capitalization, market share, legal exposures, price fluctuations, access to supply, ethical exposures, financial liabilities, and the risks associated with operating licenses.

Sustainability 187

Sustainability Procurement Supply Chain Efficiency Procurement strategies 187

Spend Matters

MARCH 5, 2024

Find out more about membership options here and request pricing information here. If you’re new to SolutionMap, here are the basics SolutionMap launched in 2017 and is published twice annually.

Procurement 110

Procurement Sourcing Risk management Ethics 110

Procurement Software

APRIL 2, 2024

So, we’re going to take a quick look at three different price brackets and examine what you can buy with this budget. We’re going to cover three different price points. Some platforms in this price range will also support e-auction capabilities. Usually priced based on spend amount being analysed through the tool.

supply chain budgeting 52

supply chain budgeting supply chain software solutions Procurement Budget 52

Procurement Leaders

DECEMBER 9, 2022

We are proactively communicating with top management to provide a heads-up in terms of financial target planning and support for action planning – both in terms of macro updates and raw-material price impacts. Finally, we work extremely closely with suppliers to reduce the impact of inflation.

Collaboration 162

Collaboration Supply Chain Efficiency Raw materials Supplier relationship management 162

Procurement Tactics

JUNE 5, 2023

Decrease costs Companies can benefit from a global supply chain by accessing a wider range of resources and finding materials at lower prices. Successfully managing these complexities requires robust strategies and effective risk management measures. This can be difficult and may lead to expensive fines and penalties.

supply chain budgeting 192

supply chain budgeting supply chain software solutions Supply Chain Optimization Supply Chain Efficiency 192

Procurement Tactics

SEPTEMBER 21, 2022

Sustainable procurement brings additional revenue through the innovation of eco-friendly products and services, price increases for premium products and services, and income from recycling programs. . A well-thought risk management approach. Think about the effects of the prices that you set. Transparent communication.

Sustainability 188

Sustainability Procurement Cost of ownership Suppliers 188

Planergy

JANUARY 19, 2024

Vendor analysis is crucial for risk management. That’s why vendor analysis is essential to any successful procurement process – it helps ensure that companies procure from reliable suppliers at competitive prices while adhering to applicable regulations. What is Vendor Analysis?

Vendor management 52

Vendor management Suppliers Quality Supply Chain Efficiency 52

Spend Matters

JUNE 19, 2023

Click to enlarge Contract Lifecycle Management plays a crucial role in organizational risk management. Whether through identifying risks present in existing contracts or proactively avoiding risks in the negotiation/authoring process, vendors use a variety of different techniques for risk management.

Contract 91

Contract Management Negotiation Real-time Visibility 91

Spend Matters

JANUARY 19, 2024

AI-powered automation also enables procurement to recover tens of millions of dollars that might otherwise be lost due to inadequately managed indirect spend. The key lies in the redesign of manual processes, making them user-friendly, digital and intelligent. Finally, how a company allocates its funds bolsters its ESG strategy.

Procurement solutions 97

Procurement solutions Procurement Sourcing Innovation 97

IBM Supply Chain Blog

APRIL 4, 2024

Lots of innovation is happening, with new technologies emerging in areas such as data and AI, payments, cybersecurity and risk management, to name a few. A third-party risk management review, where the ISV needs to describe how it is complying to required controls. Most of these new technologies are born-in-cloud.

Innovation 59

Innovation Bill of materials Risk Risk management 59

IBM Supply Chain Blog

FEBRUARY 28, 2024

Because organizations with strategic sourcing mindsets look beyond price and cost savings-centered supplier selection initiatives. Successful strategic sourcing often results in process optimization, cost management, customer satisfaction, risk management , increased sustainability and other benefits.

Sourcing 101

Sourcing Strategy Supply Chain Efficiency e2e 101

Arkestro

OCTOBER 10, 2023

In April 2020, oil prices dropped from $18 a barrel to roughly -$37 a barrel , going negative for the first time ever on record. Though oil prices rebounded fairly quickly, the dramatic collapse was followed by a difficult recovery journey. But suddenly, everything changed. Likewise, labor rates are growing at more than 9% per year.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain supply chain budgeting Supply Chain Optimization Supply Chain Efficiency 52

Una

OCTOBER 13, 2022

A self-described “optimist with a raincoat,” risk management is a topic close to Kris’s heart. Restaurants with little or no buffers will be forced to pay higher prices for ingredients and pass those on to customers, while grocery retail prices could rise dramatically for in-demand foods.

Procurement 98

Procurement Agile and Lean Supply Chain Price Supply chain 98

Procurement Tactics

NOVEMBER 23, 2022

It includes easy access to capital and markets, increased profits, improved brand image, gaining more customers, and better decision-making and risk management processes. . What is Sustainability in Procurement?

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

NLPA (Next Level Purchasing Association)

JANUARY 17, 2023

Moreover, “Pricing” management remains critical. Risk Management : Provisions must be made to manage the following types of risks: Supply Risk: The possibility of production line shutdown, failure to meet customer requirements, and/or other catastrophes due to the non-availability of certain goods or services at a particular time.

Agile and Lean Supply Chain 52

Agile and Lean Supply Chain Procurement Spend management Cost of ownership 52

Procurement Leaders

DECEMBER 9, 2022

We have also built up stock at lower negotiated prices. Finally, we have delegated the management of certain commodities, for example, energy, to experts and have extended that service to some of our most important suppliers to mitigate their energy price increases, as well.

Suppliers 147

Suppliers Bill of materials Raw materials Supplier relationship management 147