This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
To round off that perspective, we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
To round off that perspective we’d like to engage the thoughts of the solution providers themselves, particularly in terms of how they believe their customers perceive risk and what they want from today’s solutions. Visit our In-Depth Guide to RiskManagement for an explanation of this complex environment.
A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. Today, just the combination of the words risk, environment and supplychain make the practitioner sit up and think differently.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and riskmanagement. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supplychain disruptions and geopolitical tensions.
In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supplychainriskmanagement.
As part of our theme this quarter on Procurement’s role and value in supplychainriskmanagement, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Resources: Online courses on strategic sourcing (e.g., Workshops on negotiation and supplier relationship management. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g.,
Global conflicts, macroeconomic shocks, and shifting global trade routes are all combining to provide real challenges to modern supplychains, and are driving the uncertainty that organizations feel. Companies often struggle to plan for such challenges, which is why developing a strong and resilient supplychain team is so important.
The German SupplyChain Act, or Lieferkettengesetz, is a new piece of legislation that came into effect January 2023 with an extended remit from January 1, 2024. In Germany, this figure amounts to approximately 3,000 companies and requires them to conduct due diligence to identify and address potential risks in their supplychain.
In the vast sea of supplychain information, which SCMDOJO supplychain article truly stands out? Dive into our curated list of the top 12 blogs from 2024 that will elevate your supplychain knowledge and give you a competitive edge. Read In Detail About Procurement Department Here 2.
When we talk about reputational risk, we refer to damage to a company’s name or brand resulting from the negative actions (inadvertent or not) of a top-tier supplier or sub-tier part of the supplychain. Find our in-depth guide to third-party and supplychainriskmanagement with accompanying free download here.
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% supplychain visibility.
As part of our third-party/supplychainriskmanagement (TPRM/SCRM) series, today we address the ROI of riskmanagement. As we inferred in our exploration of the types and sources of risk, riskmanagement done well can reap rewards, just as riskmanagement ignored can reap chaos.
Sourcing consultants now… The post RiskManagement Strategies From Leading Sourcing Consultants first appeared on Procurement Blog | Procurement & SupplyChain News. Market uncertainties across the globe have transformed how businesses approach procurement practices.
The past few years have highlighted serious deficiencies in prevalent supplychain strategies and the major risk that disruptions pose to corporate success. years and companies can expect to lose 42% of one year’s EBITDA every decade due to supplychain disruptions. Assessing Risk across the SupplyChain.
First Name Email Download 51 Prompts → Or receive our famous weekly newsletter Global SupplyChain — Everything About SupplyChain Global supplychain has become a popular way for businesses to source unique materials and products from other countries as they are unavailable domestically.
Are you thinking of developing a new sourcingriskmanagement plan? Wondering how to better mitigate supplychainrisk when sourcing? Or just keen to explore some of the best riskmanagement practices Chief Procurement Officers (CPOs) can adopt? You see, riskmanagement […].
For this year’s Spend Matters Fall 2024 SolutionMap release – our comprehensive methodology designed to help organizations evaluate and select procurement solutions – we launched a new module: third-party (and supplychain) riskmanagement (TPRM and SCRM).
Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychainmanagement and procurement sit poised on the frontlines of managing global supplyrisks for their brands. Understanding Supplier RiskManagement.
Strategic SourcingManager — The Ultimate Guide. A strategic sourcingmanager is a key person in ensuring that the strategic process is effective and efficient. In this article, we will discuss what a strategic sourcingmanager is. Strategic Sourcing Explained. What is a Strategic SourcingManager?
What is Halo Ai HaloAi is a third-party riskmanagement (TPRM) solution that aims to be a one-stop shop for third-party risk so that organizations do not need multiple point solutions. Halo Ai uses AI models to connect, correlate and contextualize real-time data points to bring customers the full risk story.
Like every industry Procurement & SupplyChain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. The post Procurement & SupplyChain Experts lined up for Ivalua NOW Virtual 2020 on May 5th!
Sustainable supplychains can address the key drivers of forest and biodiversity loss in the agriculture and forestry sectors, fueling biodiversity conservation and responsible sourcing of commodities like palm oil, soy, timber, and much more.
ERM vs GRC Two key frameworks for managingrisk are Enterprise RiskManagement (ERM) and Governance, Risk and Compliance (GRC). Riskmanagement (R) to identify, assess and mitigate risks that could hinder the organization’s ability to achieve its objectives.
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
This introduction to supplier riskmanagement outlines the importance of effectively identifying and managingrisks that may arise from suppliers. Supplier riskmanagement is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.
Strong supplychain capabilities drive efficiency and develop competitiveness in an oversaturated market. Global disruptions such as COVID-19 have unearthed a wide range of vulnerabilities within international supplychains. To develop these relationships, regular communication is key.
Supplychains are the backbone of global trade that ensure the smooth movement of goods and materials across industries. One of the most effective strategies for building resilience is integrating project management into supplychain operations. Enhance visibility across the supplychain through structured reports.
This realization planted the seed for a solution that would later become Halo Ai — a system designed to create comprehensive risk profiles for third parties, enabling organizations to operationalize their riskmanagement strategies more effectively. What is the road ahead for Halo Ai?
Consider this your business suddenly faces a major supplychain disruption. But the truth is, a fragile supplychain can make or break your companys success in today’s world. But the truth is, a fragile supplychain can make or break your companys success in today’s world.
These issues can affect direct suppliers, but they can also occur anywhere throughout the supplychain, e.g., sub-tier suppliers, shipping and other logistics service providers. Find our in-depth guide to third-party and supplychainriskmanagement with accompanying free download here.
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 procurement risks. Enhances AI-driven supplychain resilience.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supplychain disruptions, a robust procurement strategy is no longer optionalits essential. Optimize costs without compromising supplychain continuity. Increased costs due to emergency sourcing. Want to achieve these benefits?
Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supplychain dynamics, identifying potential risks, and optimizing sourcing strategies. Help Forecast Upstream Supply Constraints Early Warning Signs: S&OP can identify potential demand increases.
Continuing our series on third-party/supplychainriskmanagement (TPRM/SCRM), here we illustrate the breadth and complexity of risk that organizations today must navigate and manage. The post Risk is complex — The different types and sources of risk appeared first on Spend Matters.
Global supplychains have always been complexbut in todays climate of rising geopolitical tensions and evolving trade policies, theyve become even more unpredictable. These changes impact the entire end-to-end supplychain, from planning and procurement to logistics and customer delivery.
The last few years have put the word “supplychain” in the headlines as so-called supplychain disruptions and shortages have impacted everybody. Even now, supplychains are far from being “back to normal.”
Supplychain and procurement have undergone a seismic change in recent years. Increased globalization, constant digital transformation, and ever-evolving consumer demands have led to a situation where traditional supplychain skills are simply no longer enough for success.
Subscribe to SupplyChain Game Changer. SupplyChainRiskManagement is a Cirque Du Soleil Calibre Act! In today’s world, supplychains are more important than ever. In fact, 89% of businesses encountered a supplier risk event in the last five years. Subscribe Here! Email Address.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychain resilience and agility in times of crisis. There are many supplychainmanagement lessons to learn from the Covid-19 crisis.
What is Source to Pay (S2P)? Yet in the case of source to pay, it is wholly justified. That said, many organizations, including large enterprises, may not think in terms of source to pay as an end-to-end process, if they think about it at all. Yet there are good reasons to do so.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content