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Procurement and supply chain 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.
Supply chain visibility is about knowing where things are at all times, from their sources to their final destinations. Various technologies can track goods in realtime. Blockchain, AI, data…
Unfortunately, outdated tools and fragmented processes make it difficult to maintain visibility across the supply chain and adapt at the pace of business. Key Takeaways Legacy procurement processes limit scale, speed, and visibility, making it harder to manage risk, compliance, and costs.
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 supply chain. Your procurement technology platform should help unify data and processes across tiers to avoid disruptions.
In this post, we’ll break down proven strategies to help you streamline processes, improve visibility, and take back control of your procurement stack. Modern procurement automation software helps companies to streamline repetitive tasks, improve cross-team collaboration, and improve visibility across every stage of the buying cycle.
Ivalua commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study , offering key insights into how companies can unlock substantial financial benefits and operational improvements by adopting Ivalua’s unified Source-to-Pay (S2P) platform. 393% ROI from process automation, better visibility, and replacing old systems.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.
Technology unifies procurement and purchasing, improving visibility, compliance, and workflow automation. Procurement is the strategic, big-picture approach to sourcing and supplier relationship management, while purchasing is the tactical execution of those plans. What is Procurement?
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. To potential buyers — True ValueHub can save category managers and buyers significant time and money by identifying new opportunities based on a deep analysis of costs and drivers.
Supply chains are the backbone of global trade that ensure the smooth movement of goods and materials across industries. Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. A well-managed supply chain does not just survive crises it thrives in them.
Global conflicts, macroeconomic shocks, and shifting global trade routes are all combining to provide real challenges to modern supply chains, and are driving the uncertainty that organizations feel. Companies often struggle to plan for such challenges, which is why developing a strong and resilient supply chain team is so important.
Complete Source to Pay cycle and Strategic Sourcing Guide An optimized Source-to-Pay (S2P) process helps businesses enhance procurement efficiency, reduce costs, and improve supplier collaboration. Strategic sourcing plays a critical role in this transformation, ensuring organizations secure the best value while mitigating risk.
For today’s vendor viewpoint we asked Austin Fuller, Director, Product Marketing at supply chain risk management specialist Exiger Have you witnessed a significant change of appetite for risk-related tech over recent years from your customer base? We’re seeing larger RFPs over time asking for greater complexity.
As little as 10 years ago, we heard stories of pretty much indifference to risk: “supply risk management was young,” we heard, and “we didn’t worry too much about risk; we spent a very small percentage of our time on it.” It’s not uncommon for each department to have its own list of suppliers and its own supply of risk data.
Supply chains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurement teams must sift through is overwhelming. big data) in realtime, spotting correlations and trends that would otherwise go unnoticed. Procurement is at a crossroads.
Technology is a powerful enabler of finance-procurement collaboration, bridging gaps in spend visibility, cost control and data integration. Without integration, finance teams struggle to track procurement-driven savings, while procurement lacks visibility into financial planning and liquidity management.
Primarily, our customers are prioritising supply chain visibility, adopting proactive risk management strategies and staying compliant with evolving regulations. A unified platform providing a single source of truth enables better collaboration, regular oversight and audit readiness.
I have some real context of this, living in NYC and having a family member that works at a hospital. While it is a difficult time, you have to also applaud the heroic efforts of this industry as a whole. We believe that a key pillar of this transformation is the supply chain. With such growth comes supply chain complexity.
From simple automations that save time to sophisticated strategies that drive major business value, embedding AI in your business processes can provide immense value. These mid-level AI applications dont just save time; they empower procurement teams with better information, stronger supplier relationships and a sharper strategic edge.
ERP vs. Best-in-Class for Healthcare Supply Chain Management? Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts. They both do the same thing, or do they?
The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supply chains. 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.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data.
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. These begin with enhanced visibility.
Subscribe The Supply Chain Renaissance Has Begun! This article depicts how innovative technology transforms supply chain operations. Supply Chain Management oversees the operational connection between businesses responsible for making and moving products through all distribution stages.
If youre in procurement or supply chain, chances are youve wondered: How can I rethink this process, make smarter decisions, and still save time? Automation within the source-to-pay (S2P) cycle from sourcing to payment is redefining how businesses handle suppliers, contracts, quotes, and payments. Lets take a look.
Supply chains are vital to businesses, facilitating the movement of goods, services, financial flows, and information. 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.
Subscribe The Complexity of the Lego Supply Chain! Supply chains in the energy sector are among the most complex and capital-intensive in the world. Key insight for finance professionals: Supply chain complexity is more than logistics. Investors now expect transparency on emissions, labor standards, and sourcing.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
This leap in AI capabilities is revolutionizing industries, and AI-driven supply chain management is no exception. The Role of Agentic AI in Supply Chains Supply chains are dynamic and complex, requiring continuous decision-making across multiple functions, from procurement and inventory management to logistics and demand forecasting.
Supply chains are particularly vulnerable during recessions. Consequently, it is imperative to develop a recession-proof supply chain to make them more resilient and adaptable. Consequently, it is imperative to develop a recession-proof supply chain to make them more resilient and adaptable.
Subscribe to Supply Chain Game Changer. Supply Chain Visibility – An Overcomplicated Challenge! A recent Deloitte survey estimated only 15% of CPO’s have visibility beyond their tier one suppliers. I found this striking that there is so little multi-tier Supply Chain visibility. Subscribe Here!
We believe these companies deserve greater visibility, especially in a market which is increasingly consolidating and diluting buyer choices. Core strengths Authentic, needs-driven foundation – “Built from the ground up to address real-world challenges, Halo Ai is designed to meet the complex needs of modern third-party risk management.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react.
A comprehensive Source-to-Pay platform is a critical component of an organization’s IT environment. What is Source-to-Pay? The Source-to-Pay process itself is quite broad but it covers most if not all the aspects of a procurement organization, at least from a process and technology perspective.
In an age where supply chains face persistent disruptionsfrom pandemics and trade wars to cyberattacks and climate volatilityresilience is no longer optional. This shift has pushed supply chain leadership to pivot from reactive management to proactive strategy built on data. Analytics allows organizations to move beyond intuition.
Manufacturing and industrials: Strengthening the supply chain backbone In the manufacturing world, procurement is about much more than just tracking spend its the heartbeat of supply chain management. Thats where AI steps in, offering a proactive approach to predicting supplier lead times and optimizing demand forecasts for buyers.
Tracking performance over time is key to measuring the business value the collaboration is delivers. To align with financial reporting goals, procurement teams should: Improve spend visibility: Validate and accurately report procurement savings to finance.
EDITOR’S NOTE: In December 2010, I wrote an article about one of Time Magazine’s picks for the Top Innovations in 2008 – Made-in-Transit Packaging. I obviously think what EiKO is doing regarding process visibility is great – kudos to the company for its progressive customer-centric thinking.
In a landscape shaped by inflation, supply chain fragility, regulatory pressure and digital transformation, orchestration is more than a buzzword. Externally, risk and compliance obligations mount, supply chains are stretched and stakeholder expectations broaden. From there, workflows adapt in realtime.
Redwood City, CA, June 30, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its source-to-pay platform with a new payments solution to digitize and streamline global supplier payments. Enabling the complete source-to-pay process within the Ivalua Platform has always been a strategic objective.
Let’s set sail on a journey towards efficient and effective supply chain management. By harnessing the power of data analytics and strategic insights, organizations can proactively mitigate the impact of tariffs on their supply chains while enhancing operational efficiency and cost-effectiveness.
Procurement’s cash flow priorities Procurement plays a vital role in cash flow management by: Strengthening supplier relationships to ensure resilience in the supply chain. Reducing the total cost of procurement through supplier negotiations and sourcing strategies.
Sustainable Supply Chain — The Ultimate Guide. The sustainable supply chain is adopted by many companies due to the increasing pressure to demonstrate greater environmental and social responsibility. However, how can companies demonstrate tier responsibility through the supply chain? Supply Chain Sustainability: What is it?
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