Three Ways to Enhance Procurement Value Through Risk Management
Supply Chain Brain
DECEMBER 20, 2023
From scenario planning to relationship building, procurement teams are in a new era of risk management that will be crucial for long-term success.
7 Situations When Your Procurement Team Needs Process Improvement
NLPA (Next Level Purchasing Association)
FEBRUARY 2, 2024
The ever-evolving world of procurement demands agility, efficiency, and a sharp eye for optimization. This article dives into 7 situations where process improvement can revolutionize your procurement team and skyrocket your bottom line. Is your procurement team facing any of these situations? Look no further!
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Manufacturing Sustainability Surge: Your Guide to Data-Driven Energy Optimization & Decarbonization
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In the Middle East, the Need for Risk Management Guides the Transformation Journey to Procurement 4.0
ivalua
MAY 11, 2021
Risk management, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. appeared first on Ivalua.
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AI + Data = Supply Chain Risk Management!
Supply Chain Game Changer
FEBRUARY 5, 2020
As we see from Deloitte’s CPO Survey in 2018, AI is only fully deployed in 2% of procurement organizations and is far from making any real impact at scale within the digital ecosystems procurement teams are so eagerly trying to build. AI + Data = Supply Chain Risk Management.
100 Day Plan
Procurement Templates
APRIL 15, 2024
Communicate Vision: Share the vision and objectives with the procurement team and stakeholders to gain buy-in and alignment. Stage 4: Process Improvement Days 31-40 Streamline Processes: Implement improvements to streamline procurement processes, reduce inefficiencies, and enhance compliance.
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Keeping Your Supply Network in Equilibrium: Avient's Journey to sustainable supply chain risk management
Supply Chain Brain
MARCH 29, 2022
Supply chain and procurement teams are tasked with sifting through the noise to find out what is relevant to their supplier base to ensure their supply network stays in equilibrium. .
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New Year Insights for the procurement solutions and services marketplace 2024: Prevalent
Spend Matters
JANUARY 11, 2024
Procurement will step into the center of risk management As the risk landscape continues to change at an alarming rate, organizations can no longer afford to look at risk one dimensionally. At one time, this was acceptable; a financial profile or sanctions report was enough for an onboarding risk analysis.
How Supplier Risk Management needs to evolve in 2021
Zycus Cognitive Procurement
DECEMBER 9, 2020
The pandemic has taught us supply chain professionals a precious lesson in supply chain risk management. Now that the situation is slowly moving towards normalcy, supply chain and procurement teams are under insurmountable pressure to monitor and mitigate supplier risks and compromise competitiveness closely.
When Procurement Bear Fruit
Procurement Templates
MARCH 6, 2024
So, here’s a breakdown of procurement personalities in the office if they were different fruits for you and your colleagues to debate what fits who! When procurement bear fruit who are you within the fruit basket? Their ability to maintain composure when things get hot makes them an indispensable part of the procurement team.
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What does the German Supply Chain Act Mean for Procurement?
ivalua
JANUARY 8, 2023
For procurement organizations, the German Supply Chain Act presents both challenges and opportunities. The new set of regulations add an additional layer of compliance and risk management to the procurement process. Further, it is essential that supplier management and data is holistic (i.e.,
Tightening the Alignment between Procurement and Corporate LeadersÂ
ivalua
MARCH 16, 2022
Watch our Webinar Replay to find out more about the GAPS identified by PwC and some practical tips on how Procurement can take advantage of and help support changing C-level priorities. . The Digital Procurement Survey results established that Procurement’s priorities have shifted due in a post-COVID-19 world.
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Spot the mistakes Strategic Sourcing Framework
Procurement Templates
MARCH 3, 2024
Procurement can leverage market intelligence to make informed decisions, mitigate risks, and drive strategic value within the organization. Procurement teams can analyze market trends, supplier capabilities, financial stability, and reputation to evaluate potential suppliers and select the most suitable ones.
Will 2021 be about Cost Reduction or Strategic Supplier Relationships?
ivalua
JANUARY 29, 2021
PWC has been publishing the annual procurement survey since 2015, capturing many of the trends in procurement that we now see in organisations, such as the focus on supplier risk management. Therefore, the survey gives a fascinating insight into the impact that the pandemic has had on procurement teams globally. “70%
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Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience
ivalua
FEBRUARY 8, 2023
The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these.
Electrolux’s Mirela Boldu on managing supply chain threats through education and collaboration
Procurement Leaders
MARCH 10, 2023
With such a large supply base, it’s not surprising to hear the business faces many different threats, including cyber risks, material availability challenges and logistics risks – to name but three. For Mirela Boldu, senior programme manager – supplier risk management, managing these threats is crucial to the function.
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5 Top Tips: How to Increase Procurement Agility in Financial Services:
ivalua
APRIL 12, 2022
Procurement plays a key organizational role by ensuring compliance with Third Party Risk Management (TPRM) requirements, optimizing spend value, and leveraging a network of innovative suppliers.
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New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives
ivalua
MARCH 31, 2020
REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement. Learn more at www.ivalua.com.
The Top 20 KPIs You Need To Know In Procurement
World of Procurement blog
APRIL 23, 2024
Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control. Purchase Order Cycle Time Evaluates the efficiency of the procurement process by measuring the time from when a purchase request is made to when the order is completed.
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The Top 20 KPIs You Need To Know In Procurement
World of Procurement blog
APRIL 23, 2024
Spend Under Management Measures the amount of spend that the procurement team actively manages, aiming for higher percentages for better control. Purchase Order Cycle Time Evaluates the efficiency of the procurement process by measuring the time from when a purchase request is made to when the order is completed.
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What the upcoming ESG tsunami means for spend teams
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 Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility
ivalua
JUNE 4, 2020
In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurement team to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic.
Pandemic Prepared! 8 Steps to Building Supply Chain Resilience
ivalua
JUNE 1, 2022
In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Navistar had already been developing a supply chain risk management program and were in the midst of executing digital transformation initiatives when the crisis hit.
Procurement’s New Year resolutions for tackling supplier risk
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.
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Latest research: CPO Compass 2024
Procurement Leaders
NOVEMBER 6, 2023
In partnership with GEP: Insights into the long-term technological, geopolitical and ESG trends that will impact procurement teams this decade
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Ivalua Study: Tech Challenges Hinder Procurement
ivalua
MARCH 31, 2020
New Ivalua study shows technology challenges are hindering procurement teams from achieving business objectives. The study revealed the challenges procurement teams face when it comes to achieving business objectives and the wide and growing gap in performance between advanced and less mature teams.
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The Opportunity — and Challenges — for Digital Transformation in MENA
ivalua
JUNE 16, 2021
What’s more, PwC found that the average investment in risk management among MENA companies was $1.5 These solutions also improve collaboration among organizations and suppliers, and enable procurement teams to leverage data analytics to optimize contract negotiations, payments, buying patterns and more.
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2024 planning: Supporting growth by expanding strategic procurement and optimising operating models
Procurement Leaders
AUGUST 25, 2023
Advancing strategic procurement Reflecting the broad range of areas in which CPOs and their teams are being asked to produce results, leaders highlighted cost savings as their top strategic priority for 2024, closely followed by supply resilience and sustainability.
Swedish Steel Manufacturer Selects Ivalua to Further Optimize Procurement Efficiency and Mitigate Supply Chain Risk
ivalua
OCTOBER 17, 2022
Ivalua, a global leader in spend management, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supply chain risk management thanks to Ivalua’s Source-to-Contract (S2C) solution.
Category Management in Procurement
NLPA (Next Level Purchasing Association)
FEBRUARY 29, 2024
In today’s dynamic business landscape, category management in procurement has become an essential weapon for procurement teams seeking to optimize spend, strengthen supplier relationships, and drive growth. This is where category management in procurement emerges as a game-changer.
Corporate Social Responsibility in Procurement — Everything a Procurement Professional Should Know
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? By working with procurement teams, companies can source external resources that may help achieve CSR initiatives. .
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8 Steps to Building Supply Chain Resilience for Manufacturers in a Post-Covid World
ivalua
MARCH 16, 2021
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?
A Gameplan for Procurement Transformation
NLPA (Next Level Purchasing Association)
SEPTEMBER 8, 2023
A successful procurement transformation involves a strategic overhaul of processes, technologies, and approaches to achieve greater efficiency, cost savings, risk management, and value creation. Procurement teams equipped with risk management tools can ensure business continuity and minimize potential negative impacts.
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Strengthening the shield: Procurement’s partnership with information security to mitigate cyber risk
Spend Matters
JUNE 20, 2023
This content does not express the views or opinions of Spend Matters In our previous installment on Spend Matters, we discussed the rapid evolution of Supply Chain Risk Management happening within procurement organizations. And so it should.
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Hiring freezes threaten to halt procurement’s expansion plans
Procurement Leaders
JANUARY 13, 2023
In contrast to such stories, procurement teams appear bullish on their 2023 hiring plans. Half of respondents to Procurement Leaders’ November 2022 Procurement Pulse said they planned to increase the size of their teams in 2023 when compared with the previous year ( see Figure 1, below ) – by an average of 8%.
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The Market Speaks: Procurement practitioner requirements and the tech vendor response — JAGGAER
Spend Matters
AUGUST 16, 2023
It’s an exciting, yet challenging, time for procurement teams. Economists expect interest rates and inflation to stay high this year, which increases the pressure on procurement to cut costs. Growing concerns over geopolitical risks and supply shortages are raising the expectations for supplier risk management.
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Focusing Beyond Cost in Procurement
Una
MARCH 30, 2023
Cost is, and should always be, a foundational part of procurement’s purpose but expanding its focus beyond cost will unearth other sources of value. My CFO only cares about cost reduction This is a common excuse for procurement teams who are struggling to move the needle beyond cost reduction.
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10 lessons from CPOs leading procurement’s response to the polycrisis
Procurement Leaders
MARCH 6, 2023
Hiring freezes risk jeopardising procurement’s ambitions From risk management to supplier diversity and digital transformation, procurement’s role is increasingly multifaceted and many CPOs are looking to expand their teams to deliver on these ambitions. It’s always going to be sexy to save money.
DuPont CPO Gonzalez on geopolitical risks, building relationships and prioritising amid the polycrisis
Procurement Leaders
FEBRUARY 3, 2023
” Strong foundations have been critical to managing disruption In the face of numerous headwinds, the procurement team at DuPont has been remarkably resilient, as Gonzalez explains: “A lot of suppliers are having major crises, we haven’t shut down one customer, we didn’t shut down one plant.
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From Reactive to Proactive: How Predictive Procurement Reshapes the Industry
Arkestro
FEBRUARY 20, 2024
Resources / Blog / From Reactive to Proactive: How Predictive Procurement Reshapes the Industry From Reactive to Proactive: How Predictive Procurement Reshapes the Industry The procurement workload is expected to increase by 10.6% Procurement teams should also ensure alignment across all departments and stakeholders.
The Big Interview with Nathalie Adotevi
Procurement Heads
APRIL 26, 2023
Since I graduated, I’ve always worked in procurement and supply chain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects. We manage billions of dollars worth of spend. What are you most passionate about when it comes to procurement?
The Big Interview with Nathalie Adotevi
Procurement Heads
APRIL 26, 2023
Since I graduated, I’ve always worked in procurement and supply chain across both indirect and direct categories, across different geographies and also worked as a Consultant delivering transformational projects. We manage billions of dollars worth of spend. What are you most passionate about when it comes to procurement?
Modernizing procurement with the Alt Suite
Spend Matters
OCTOBER 11, 2022
Now, procurement professionals are tasked with servicing the complex sourcing requests from numerous stakeholders addressing new regulatory compliance requirements to furthering their organization’s ESG commitments, to name a few. Read more. ).
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Role-Based Training for Procurement & Supply Chain Teams
Skill Dynamics
OCTOBER 19, 2023
A generic approach to training is not the solution to the increasing range of challenges facing procurement teams. This means that skills enhancement across wider roles is required for procurement professionals, with a focus on role-specific learning. This approach also helps with overall team development.
Episode 91: Centralizing the Process for Buying Technology with David Campbell
Una
NOVEMBER 15, 2022
Procurement teams may talk about technology spend as an isolated category, but it actually encompasses a very broad range of products and platforms. Episode 91: Centralizing the Process for Buying Technology with David Campbell. By Kelly Barner | November 16, 2022. David Campbell on LinkedIn. Connect With Us.
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