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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.
As part of our series on all aspects of riskmanagement, we are taking a look at the digital capabilities of risk solutions (supplierriskmanagement, TPRM and SCRM). The first part covers the enabling and supporting capabilities and the second covers risk governance. This content is for members only.
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. Design-for-Supply part 1, part 2, part 3 and part 4.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Conduct Supplier Assessments: Regularly evaluate supplier performance using scorecards focused on quality, delivery, and cost. Workshops on negotiation and supplier relationship management.
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.
This Spend Matters Vendor Analysis gives an overview of smartKYC, a risk (supplier due diligence) solution built to ensure that organizations stay on top of reputational and compliance risks. This Vendor Analysis provides an overview of smartKYC, a look at the competitive landscape, user considerations and an analyst summary.
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.
In todays interconnected business landscape, companies rely on suppliers and service providers for core procure-to-pay (P2P) activities, including order processing, invoicing and payments. The post Navigating the top 5 third-party risks in procure-to-pay processes appeared first on Spend Matters. This content is for members only.
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.
This introduction to supplierriskmanagement outlines the importance of effectively identifying and managingrisks that may arise from suppliers. Supplierriskmanagement is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.
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.
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.
The annual State of Flux global supplier relationship (SRM) management study made its appearance in London last week at the 2024 SupplierManagement Summit in its 16th rendition, this time themed ‘Return on Relationships (RoR). Those organizations also supported the suppliers that needed it. when others were not.
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. But a radical rethink is needed to succeed.
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.
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.
As part of our third-party/supplychainriskmanagement (TPRM/SCRM) series, today we address the riskmanagement landscape. Many solutions exist to managerisk in its broadest definition. However, they don’t necessarily all have the same focus and capabilities.
To improve resilience and business continuity in the face of pandemics, wars, natural disasters and other supplychain vulnerabilities, businesses are adopting comprehensive supplierrisk-management initiatives.
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.
Maja Tepeh , Senior Brand Manager at supplychainriskmanagement solution Prewave , shares what their customers are looking for from their digital procurement investment. On the growth side, selecting sustainable suppliers helps companies improve retention among their customer base.
Supplychain reports offer a comprehensive view of your entire supplychain operation. What are SupplyChain Reports? However, implementing inventory management techniques such as ABC analysis and safety stock to optimize stock levels and minimize the risk of stockouts.
In a landscape shaped by inflation, supplychain fragility, regulatory pressure and digital transformation, orchestration is more than a buzzword. Externally, risk and compliance obligations mount, supplychains are stretched and stakeholder expectations broaden. From there, workflows adapt in real time.
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!
Holistic RiskManagement Approach: Proactive Identification: Implementing proactive measures to identify and assess diverse risks, ranging from supplychain disruptions to market fluctuations, regulatory changes, and operational inefficiencies. appeared first on ProcurePort Blog.
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).
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.
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.
PWC has been publishing the annual procurement survey since 2015, capturing many of the trends in procurement that we now see in organisations, such as the focus on supplierriskmanagement. The feedback from the survey was that process adaption and change management are the most important factors.
Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. It involves a methodical approach aimed at developing long-term supplier relationships, mitigating risks, and improving overall cost efficiency. Click here!
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?
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.
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.
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. Finally, do your best to try and align with your suppliers on your key goals and expectations.
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.
In this Spend Matters Insider Vendor Analysis Update, we give an updated and more complete overview of Resilinc (originally briefly covered in 2022), a solution built to reduce risks in supplychains to make them more resilient. Supplychains have been the focus of much news in the last few years.
Consider this your business suddenly faces a major supplychain disruption. Perhaps a critical supplier goes out of business, a natural disaster halts shipments, or new regulations are introduced that throw a wrench in your entire process. Operational risks: Supplier bankruptcies, poor quality control, or delays in logistics.
In this Spend Matters Vendor Analysis, we provide an overview of SupplyRisk Solutions and its solution for supplier (chain) riskmanagement. Supplierriskmanagement is crucial for a variety of reasons. It tracks geopolitical risk, natural disaster risk and financial risk.
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.
When vetting potential suppliers and customers, it's vital to assess their risk-management profiles and strategies, says Danny Thompson, chief product officer at apexanalytix.
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. Analyzes supplier performance, market trends, and contract terms. Enhances AI-driven supplychain resilience.
In this Spend Matters Vendor Analysis, we give an overview of Exiger, a solution built to reduce risks in supplychains. Exiger enables customers to cover a range of use cases, from risk detection and mitigation to multi-tier supplychain mapping, material price benchmarking, reporting and compliance with legal regulations.
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