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Procurement and supplychainmanagement 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.
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.
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 procurement teams back pockets. In short, AI is making manufacturing procurement faster, smarter and more resilient than ever.
However, they are also susceptible to disruptions and risks. Enhancing supplychain resilience as well as supplychainvisibility is crucial in today’s interconnected world. SupplyChain Resilience refers to a supplychain’s ability to withstand and recover from unexpected events.
The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supplychains. For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses. That is where technology can help.
Procurement Priorities for 2025 and Beyond The manufacturing industry is evolving rapidly, leaving Chief Procurement Officers (CPOs) grappling with challenges that could make or break their organizations. Amid economic uncertainties and geopolitical shifts, procurement leaders face mounting pressure to drive sustained growth.
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.
Supplychainvisibility is essential for successful procurement, as it enables businesses to proactively managerisks and optimize their supplychain. By having a clear view of their entire supplychain, businesses can identify potential issues and take steps to mitigate them.
This leap in AI capabilities is revolutionizing industries, and AI-driven supplychainmanagement is no exception. Agentic AI takes this a step further by enabling autonomous supplychain systems. Helps businesses drive cost savings and mitigate procurementrisks.
Procurement has the once-in-a-lifetime opportunity to evolve into a strategic powerhouse. Likewise, you could have a progressive organization who values and understands the contribution procurement could make. But then you blow this by futzing around trying to be a cheapskate and running procurement ops in ERP.
Over the coming weeks, our risk series will cover vendors within the following risk categories: Financial Risk & Supplier Risk. SupplyChainRisk. Supplier Management Non-Suites. Supplier Management Suites. Contract RiskManagement. Compliance/CSR Risk.
For the 9th year in a row, our analysts debated intensely to determine which companies across 10 procurement technology market sectors deserve closer attention as best-in-class or up-and-coming. “50
51 ChatGPT Prompts to 10X Your Productivity in Procurement Success! Negotiation Course for Procurement Learn from industry experts who negotiated billion $ deals 2. Procurement Strategy Course Take the lead with our proven 5-step procurement strategy 3. CERTIFICATE COURSES Related courses about this subject 1.
What are the pros and cons, and what supplychain strategy will pave the way to higher margins, improved supplychainriskmanagement in healthcare and improved patient care? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
This article will explore key strategies for building supplychain resilience, and how Skill Dynamics can help support your business throughout this transformation. Technology is increasingly vital in increasing supplychainvisibility, enabling quicker and more informed decision-making.
For several years now, Spend Matters has been collecting and publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and service providers in the market. New forms of outside-in intelligence that complements engineering, procurement and supplychain operational data.
Subscribe to SupplyChain Game Changer. Why Procurement Transformation Can Fail! The duties of procurementmanagers are diverse, ranging from creating solicitations to collaborating with vendors. The importance of digital procurement is increasing rapidly. Benefits of Procurement Automation.
In fact, a survey conducted by the Economist Intelligence Unit (EIU) found that 96% of respondents from the Middle East region were reconfiguring their supplychains in October 2020 — much higher than the global average of 83%. What’s more, PwC found that the average investment in riskmanagement among MENA companies was $1.5
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. Lack of Visibility Beyond Tier 1.
Paul Denneman , a Master APICS® Instructor with over 20 years of experience, and Maryna Trepova , a renowned procurement expert, are just a few of the instructors leading the way. SupplyChainVisibility: Gain insights into the real-time status of your supplychain, from raw materials to finished goods delivery.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed by Philip Ideson from Art of Procurement to discuss the impact of the Covid-19 pandemic on Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity.
Stronger riskmanagement and supplychain resilience Effective collaboration provides greater visibility into potential risks, such as raw material shortages or market disruptions. Riskmanagement collaboration involves working together to identify and mitigate potential risks in the supplychain.
The preliminary run uses the RAM 4-Model Assessment tool to access the Procurement Insights proprietary archives and many cross-reference sources using my AI for AI platform. is a leading AI-powered platform specializing in third-party riskmanagement, compliance, and supplier lifecycle automation. Everything about Certa.ai
Supporting the Liquor Control Board of Ontario (LCBO) during a rail strike requires a procuretech provider that offers strong supplychainvisibility, riskmanagement, and flexibility in sourcing and logistics. SupplyChainVisibility and RiskManagement 3. Here’s why: 1.
” – Albert Einstein It started as a simple exercise: ask ChatGPT, “What are the Top 3 concerns for Chief Procurement Officers in 2025?” What are the Top 3 concerns for Chief Procurement Officers in 2025? What are the Top 3 concerns for Chief Procurement Officers in 2023?
Today Cris Ferregur, Vice President of Business Development at SDI, joins me to talk all about SDI and what they do; predicting demand in an unpredictable world; harnessing the power of data to de-risksupplychains; and bridging gaps to find the balance between new technologies and legacy systems.
Procurement is a vital activity in any firm, responsible for procuring goods and services efficiently and cost-effectively. However, the is fraught with risks that can impact a company’s bottom line and operational efficiency. Understanding these risks is the first step toward effective procurementriskmanagement.
Procurement plays a pivotal role in the construction industry, governing how resources, equipment, and services are acquired to bring a project from blueprint to reality. What makes procurement in construction unique is the high level of customization required per project.
Procurement plays a pivotal role in the construction industry, governing how resources, equipment, and services are acquired to bring a project from blueprint to reality. What makes procurement in construction unique is the high level of customization required per project.
If Procurement can impact everything from customer satisfaction and product & service quality to cash flows and profitability – shouldn’t it be on top of every team’s 2023 training list? Supplychains are becoming more and more complex, constrained, and daunting by the day.
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. For instance – improved communication skills or legal contract knowledge.
On this episode of The Procurement Software Podcast, host James Meads dives into the world of procurement tech startups. With over 440 solutions in our software directory over at app.procurementsoftware.site, we aim to educate procurement leaders on the vast array of software options available to them. Stay in touch!
Altana is the world’s first Value ChainManagement System – a unified, comprehensive approach that goes far beyond supplychainriskmanagement, with unprecedented visibility, contextualized netrt across business areas, and a collaborative network with end-to-end workflows to get jobs done.
US procurement startups are killing it. It’s no surprise that in the home of big tech, Silicon Valley and seemingly endless VC investors, there’s a thriving and diverse procurement tech ecosystem. Let’s have a look at the who’s who in the American procurement startup space. Hot diggity dawg!
A Response (Part 1) The annual CPO Agenda from the Hackett Group always makes fascinating reading, as it reveals the changing priorities of the world’s procurement leaders. Ensuring supply continuity moves down a place and combating inflationary pressures is at number three. What is the probability of a supplychain disruption?
All the while, Procurement and Sourcing teams have been left to fend for themselves, and forge their own way forward, with homegrown solutions. These often use a mix of Microsoft tools to address supplier management needs. Here are 5 Key Advantages from using Supplier Relationship Management Software. Safeguard Brand Value.
All the while, Procurement and Sourcing teams have been left to fend for themselves, and forge their own way forward, with homegrown solutions. These often use a mix of Microsoft tools to address supplier management needs. Here are 5 Key Advantages from using Supplier Relationship Management Software. Safeguard Brand Value.
Sourcing: Sourcing is all about finding reliable suppliers, negotiating contracts, and managing relationships. It encompasses activities such as procurement, supplier selection, and evaluation. Procurement: Procurement is the process of sourcing and acquiring the necessary raw materials, components, or finished goods from suppliers.
Why Do We Need SupplyChainVisibility? Tips for Building an Effective Procurement Data Strategy Robots in Procurement Supplier selection & riskmanagement Think of machine learning as your trusted advisor when it comes to choosing and monitoring suppliers.
However, commonly used KPIs used by supplychain executives are usually focused on logistics performance (e.g., delivery reliability”), but is that really “supplychain thinking”? percentage of second-tier suppliers who follow a certain riskmanagement or IT standard”).
A Gartner deep-dive into this topic advises organizations to: Identify and assess supplychainrisks: Examine both internal and external risks, including those from customers, suppliers, regulators, and other stakeholders. Utilize riskmanagement expertise to understand risk appetite and reporting.
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