ivalua

JULY 22, 2015

In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing. Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.

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Bonfire

MARCH 17, 2023

Our panelists included: Hend Salem , Manager of Strategic Sourcing – Non Clinical at The Ottawa Hospital Carol Izzio , Director of Procurement at Sheridan College Christine McParland , Director of Residence and Ancillary Services at St. Find the summary of their advice in this article or watch the full conversation here.

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ProcurePort

OCTOBER 20, 2023

• Opting for procurement services offers cost savings through improved negotiations, volume discounts, and strategic sourcing, along with significant time efficiency gains and streamlined processes.

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Empowering CPO

JULY 2, 2023

One of the key areas we focus on is enhancing supplier risk management through our managed procurement services. Supplier risk management is an integral aspect of procurement, tasked with identifying, assessing, and mitigating risks associated with a company’s supply chain.

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Strategic Sourceror

JUNE 21, 2022

How to create a strong risk management strategy. Train your team in risk awareness and build organizational habits around it Risk management is built from the ground up. Building the aforementioned organizational habits of risk management is just the start. Brought to you by the StrategicSourceror.

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World of Procurement blog

APRIL 23, 2024

Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

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World of Procurement blog

APRIL 23, 2024

Implement Strategic Sourcing Strategic sourcing involves a methodical approach to finding, selecting, and managing suppliers. This process emphasizes not just cost savings but also value creation, supplier performance, and risk management.

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Cost of ownership Supply Chain Efficiency Procurement Strategic sourcing 52

World of Procurement blog

APRIL 24, 2024

This approach fosters collaborative planning, allowing procurement professionals to contribute insights on market trends, supplier innovation potential, and risk management early in the decision-making process. By doing so, we ensure alignment with the organization's strategic goals, thereby enhancing value delivery.

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Zycus Cognitive Procurement

AUGUST 29, 2022

Let’s talk about strategic sourcing and the impact of digital transformation on it. With government organizations using entire suites with AI incorporated, it is a process that is being digitized to achieve ease of operations as well as better compliance and risk management. Do all processes need to be digitized?

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IBM Supply Chain Blog

FEBRUARY 28, 2024

Sourcing is getting smarter. To start, many organizations have already pivoted from a tactical to a strategic sourcing mindset—which can make all the difference when it comes to gaining and retaining a competitive advantage. But now, the benefits of strategic sourcing are becoming even more attainable thanks to innovation.

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Procurement Heads

FEBRUARY 9, 2023

Importance of strategic sourcing As businesses become more focused on sustainability and ethical sourcing, the importance of strategic sourcing will only continue to grow. Increased focus on risk management Procurement professionals are also responsible for managing risk in the supply chain.

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World of Procurement blog

APRIL 24, 2024

Key Differences and Similarities While buying is a subset of procurement, procurement’s vantage point is of a wider lens, encompassing strategic planning, risk management, and value optimization. For Procurement: Strategic Vision : A forward-looking approach is essential for aligning procurement with organizational goals.

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World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers.

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Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Strategic Sourcing : Identifying and developing key suppliers and products to optimize spend. Risk Management : Assessing and mitigating risks associated with suppliers and agreements. Supplier Relationship Management : Building and maintaining positive relationships with suppliers.

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Ethics Procurement Supplier relationship management Market knowledge 52

World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Contract Management Systems By automating contract creation, storage, and monitoring, these systems ensure compliance, reduce risks, and foster better supplier relationships.

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World of Procurement blog

APRIL 23, 2024

Spend analysis enables informed decision-making and strategic sourcing. Contract Management Systems By automating contract creation, storage, and monitoring, these systems ensure compliance, reduce risks, and foster better supplier relationships.

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Supply Chain Efficiency Procurement Real-time Visibility supply chain software solutions 52

Spend Matters

APRIL 4, 2024

As detailed below, the analysts’ work in Q1 took a special interest in solution providers that tackle issues of supplier risk management. Halo Ai addresses third-party risk management problems by consolidating supplier data into one platform with the goal of becoming a one-stop-shop for TPRM.

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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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NLPA (Next Level Purchasing Association)

FEBRUARY 29, 2024

Additionally, category management fosters a focus on strategic sourcing , allowing teams to explore new sourcing opportunities that align with business growth objectives. Category management flips this script, emphasizing collaboration and building strong partnerships with key suppliers.

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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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ProcurePort

JULY 7, 2021

Are you thinking of developing a new sourcing risk management plan? Wondering how to better mitigate supply chain risk when sourcing? Or just keen to explore some of the best risk management practices Chief Procurement Officers (CPOs) can adopt? You see, risk management […].

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ivalua

FEBRUARY 8, 2023

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. The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures.

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Procurement Tactics

MARCH 23, 2023

In this sourcing phase, you will need to gather all the information regarding the budget, lead times, and order quantities. In strategic sourcing , you will have to dedicate time and effort to researching suppliers who can deliver quality products, at the right time and quantity.

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Empowering CPO

FEBRUARY 20, 2023

Negotiation is one of the key steps during any Strategic Sourcing process. Procurement organizations and sourcing companies adopt different methods to negotiate prices with vendors. This helps to achieve higher strategic sourcing project savings and support category management on an ongoing basis.

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ivalua

DECEMBER 1, 2022

Third-party Risk Management (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.

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ivalua

AUGUST 16, 2021

A checklist guide to getting the most out of your supplier risk management program. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. . Employ more structured processes around supplier risk management. Drive competition and achieve savings.

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Empowering CPO

JULY 2, 2023

However, with time, the function evolved, incorporating strategic elements such as supplier relationship management, risk management, and sustainable sourcing. Supplier Management: Nurturing relationships with suppliers, managing contracts, and ensuring performance and compliance.

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Una

NOVEMBER 29, 2023

This can include implementing a formal Supplier Relationship Management (SRM) program, sharing your strategy with key suppliers, collaborating on cost-saving initiatives, and ensuring a reliable and efficient supply chain. This may involve seeking out new suppliers, optimizing supplier portfolios, and conducting competitive bids.

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Empowering CPO

JUNE 30, 2023

They now encompass a wide range of activities including supplier selection and negotiation, contract management, risk assessment, spend analysis, and strategic sourcing, to name just a few. The Need for Outsourcing Procurement Services Managing procurement in-house can pose a host of challenges for businesses.

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Empowering CPO

JULY 16, 2023

Our services range from spend analysis and supplier relationship management to contract management, strategic sourcing, and e-procurement solutions. At EmpoweringCPO, we employ proactive risk management strategies to ensure business continuity and protect your interests in an unpredictable global market.

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Empowering CPO

JULY 2, 2023

Modern procurement services encompass a wide range of activities such as strategic sourcing, category management, contract negotiation, risk management, and supplier relationship management. However, in today’s complex and globalized economy, procurement goes far beyond simple buying.

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Empowering CPO

JUNE 30, 2023

In simple terms, they are a suite of services where a third-party provider, like EmpoweringCPO, manages various procurement functions on behalf of an organization. These services can range from strategic sourcing and supplier management to purchase order management and invoicing.

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Empowering CPO

JULY 17, 2023

Risk Management Procurement is inherently fraught with risks, including supplier risks , market fluctuations, geopolitical issues, and natural disasters, among others. Managing these risks is crucial to maintain the stability and reliability of supply chains.

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Empowering CPO

JULY 17, 2023

Risk Management Procurement is inherently fraught with risks, including supplier risks , market fluctuations, geopolitical issues, and natural disasters, among others. Managing these risks is crucial to maintain the stability and reliability of supply chains.

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Procurement Management Supply Chain Efficiency Real-time Visibility 40

Spend Matters

JANUARY 16, 2024

As costs continue to spiral upwards and supply chain disruptions become the new norm, procurement leaders must grapple with the dual responsibility of achieving cost savings while considering broader strategic initiatives, such as risk management, sustainability and nurturing vital supplier relationships.

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Procurement Tactics

JUNE 28, 2023

Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial. This includes checking standards of ethics, legal requirements, supplier diversity, and minimizing any risk that may arise in connection with the procurement activities.

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ivalua

JUNE 1, 2022

Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Strategic sourcing professionals may end up doing tactical work, as well.

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