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This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive risk management, and deeper integration across the supplychain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
Procurement and supplychain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChain Resilience 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. Work to achieve 100% supplychainvisibility.
Supplychains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurementteams must sift through is overwhelming. For years, procurementteams have been expected to do more with less while working with the same (or even fewer) resources.
With international commerce increasingly digitalized and customer requirements continuing to grow, the demands on supplychain professionals to create frictionless, responsive, and cost-effective operations have never been higher. Supercharge your supplychain career through the SCMDOJO SupplyChain Learning Track Certification!
The business case for data-driven transparency is not hard to make. In today’s dynamic, complex market, where procurement’s objectives continue to grow, data is the fuel for success. By taking steps now to improve supplychainvisibility, procurementteams can position their organizations for success in the years to come.
This leap in AI capabilities is revolutionizing industries, and AI-driven supplychain management is no exception. The Role of Agentic AI in SupplyChainsSupplychains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting.
Opportunities for Procurement Technology As we look toward 2025, European businesses are reshaping their supplychains to navigate an increasingly complex global landscape. A recent report by Maersk and Reuters Events highlights that 68% of companies are making supplychainvisibility and monitoring solutions a top priority.
was set up by the UK Government to design and construct the railway and is responsible for procuring and coordinating a supplychain of designers and contractors to deliver billions of pounds worth of contracts. As a public funded project, supplychaintransparency is critical.
From this discussion, we compiled a list of 8 critical supplychain management activities that to improve, build, and maintain supplychain resilience now and in the years to come. But building an agile, resilient supplychain doesn’t happen overnight; it requires forethought and planning.
Modern procurement needs have far surpassed transaction management; procurement is now a critical component in driving strategic value across businesses and AI has become a key tool in procurementteams back pockets. This means better compliance, fewer disruptions and greater efficiency in managing supplier relationships.
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?
Increasing inflationary cost pressures, more supplychain disruptions, and the imperative for more transparency to satisfy Corporate Social Resposibilty (CSR) directives, or recent legislation in countries like Germany and Norway. Advancements in automation will reduce the need for administrative and operational roles.
Tier 1 suppliers and their suppliers—and their suppliers’ suppliers—make up an organization’s multi-tier supplychain. Collaboration across Tier 1, Tier 2, Tier 3, and beyond requires visibility and communication regarding capacity, cost, risk, order quantities, inventory levels, quality , timelines, logistics, and more.
In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. ProcurementTeams Step-up. When Covid-19 hit, supplychains across the globe nearly came to a halt.
Enterprises will continue to undergo the financial burden of revenue disruptions, consumer , and uncontrolled supplychain variables. . Disruptions in global supplychains, labor market shortages, strong consumer demand. The Criticality of the SupplyChain (and Suppliers). What can we expect in 2022?
Subscribe to SupplyChain Game Changer. Featuring Our 12 Best Procurement Articles! Procurement is a function that is undergoing an exciting transformation in the majority of global value chains; simultaneously, within its own strategy, process, and technology. Subscribe Here! Email Address.
Subscribe to SupplyChain Game Changer. Featuring Our 12 Best Procurement Articles! Procurement and Sustainability are your business’ Yin and Yang. Chief Procurement Officers’ priorities seem to be changing with the times in order to further implement initiatives necessary to meet broader organizational goals.
EPISODE 137 Using Visibility to Combat SupplyChain Abstraction with Frank Kenney By Kelly Barner | October 18, 2023 In the race to build global empires of data and digital systems, today’s businesses must not risk forgetting what all of those zeroes and ones mean.
A generic approach to training is not the solution to the increasing range of challenges facing procurementteams. 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.
Its no-code, modular design, deep AI integration, and broad risk/compliance coverage make it a leader in helping organizations manage third-party risk, compliance, and ESG requirements efficiently and at scale. This lack of transparency can undermine trust and complicate regulatory audits. Summary Table: Certa.ai
In the wake of supplychain disruptions and global shortages, businesses are quickly recognizing the need for greater visibility over their supply network, from documenting the origin of material components to tracking shipments. Supplychain mapping has plenty of more far-reaching benefits, too.
In the wake of supplychain disruptions and global shortages, businesses are quickly recognizing the need for greater visibility over their supply network, from documenting the origin of material components to tracking shipments. Supplychain mapping has plenty of more far-reaching benefits, too.
Defining Agile SupplyChains. Agile supplychains are nimble enough to respond smoothly to sudden changes in supply and demand. Learn more about building agility with real-time transportation visibility. Why Is Agility Important for the SupplyChain?
SupplyShift takes a look at three ways that supplychain professionals can drive sustainability through procurement practices. This, in light of recent global issues and advancements, is the perfect time for professionals to normalize sustainable procurement practices.
SupplyShift takes a look at three ways that supplychain professionals can drive sustainability through procurement practices. This, in light of recent global issues and advancements, is the perfect time for professionals to normalize sustainable procurement practices. Sub-tier Supplier Visibility.
Lack of core technical skills is stifling procurement and supplychainteams in the race to Industry 4.0 Over two-thirds (69%) of supplychain and procurement leaders recognize technical skills as a crucial requirement, closely followed by strategic thinking (67%).
As the procurement landscape continues to evolve, Chief Procurement Officers (CPOs) in 2025 will face a wide range of challenges and concerns shaped by technological advancements, geopolitical shifts, sustainability demands, and more. What are the Top 3 concerns for Chief Procurement Officers in 2023?
Resources / Blog / 5 Chilling Challenges Facing Procurement Today 5 Chilling Challenges Facing Procurement Today From uncovering hidden supplychain specters to exorcizing bothersome data demons, procurement managers certainly have their hands full. More often than not, the raw data can be inaccurate or misleading.
While procurement technology for indirect spend continues to flourish, we’re now also seeing a new wave of great tech platforms for direct spend and component parts. As supplychain technology improves for transportation, inventory management and warehousing, the procurement tools for manufacturing businesses now need to step up.
Parallel to this, they offer the ability to streamline supplier governance and due diligence activities to cover increasing demands on compliance and supplychainvisibility. Studied cases at Kodiak Hub show between 1–3 % loss of brand exposure resulting from a non-compliant supplychain.
Parallel to this, they offer the ability to streamline supplier governance and due diligence activities to cover increasing demands on compliance and supplychainvisibility. Studied cases at Kodiak Hub show between 1–3 % loss of brand exposure resulting from a non-compliant supplychain.
In this article, we explore where we are now in terms of procurement chatbots and predict some exciting possibilities for the future. Learn more about why UX is important in procurement. This ensures that procurement support is readily accessible at any time, increasing efficiency and reducing delays.
Improvements to end-to-end supplychainefficiency. The graphic below show how P2P process sits within the entire S2P procurement flow. The goal is usually to develop the most efficient transactional procurement operations. End-to-end supplychainvisibility ensures more synergy in cooperation.
FRDM FRDM is a software company specialising in supplychain risk management. Their software is designed for multinational corporations managing complex supplychains. It helps large enterprises like Virgin, Coca-Cola, Boeing, and IBM map, monitor, and mitigate ESG risks across their global supplychains.
Improvements to end-to-end supplychainefficiency. The graphic below show how P2P process sits within the entire S2P procurement flow. The goal is usually to develop the most efficient transactional procurement operations. End-to-end supplychainvisibility ensures more synergy in cooperation.
The pandemic and resulting supplychain disruptions have added extreme pressure on the health and pharma sector to address shortages quickly and efficiently. What Are the Biggest Procurement Challenges in Health and Pharma? It’s vital that supplies are predictable, so you can get the products and services you need.
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