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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.
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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 supply chain make the practitioner sit up and think differently.
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, supply chain disruptions and geopolitical tensions.
As part of our series on all aspects of riskmanagement, we are taking a look at the digital capabilities of risk solutions (supplier riskmanagement, TPRM and SCRM). The first part covers the enabling and supporting capabilities and the second covers risk governance. This content is for members only.
Supply chains around the world are struggling as they face major shifts to production, the movement of goods, modes of transport, and the people who keep everything running. The coronavirus…
As part of our third-party/supply chain riskmanagement (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.
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 supply chain riskmanagement.
Supply chain organizations that prioritize safety and riskmanagement through data analytics, telematics, and newer equipment position themselves as competitive leaders.
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 supply chain) riskmanagement (TPRM and SCRM).
This dependency, while essential, introduces potential risks that can lead to operational delays, regulatory penalties and financial instability if not effectively managed. This content is for members only. Visit the site and log in/register to read.
Holistic RiskManagement Approach: Proactive Identification: Implementing proactive measures to identify and assess diverse risks, ranging from supply chain disruptions to market fluctuations, regulatory changes, and operational inefficiencies. appeared first on ProcurePort Blog.
As part of our theme this quarter on Procurement’s role and value in supply chain riskmanagement, 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 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.
As part of our third-party/supply chain riskmanagement (TPRM/SCRM) series, today we address the riskmanagement landscape. Many solutions exist to managerisk in its broadest definition. The post The risk solution landscape is complicated appeared first on Spend Matters.
To improve resilience and business continuity in the face of pandemics, wars, natural disasters and other supply chain vulnerabilities, businesses are adopting comprehensive supplier risk-management initiatives.
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.
Sourcing consultants now… The post RiskManagement Strategies From Leading Sourcing Consultants first appeared on Procurement Blog | Procurement & Supply Chain News. Market uncertainties across the globe have transformed how businesses approach procurement practices.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Audit Supply Chains: Identify and address environmental and social risks in the supply chain. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., LEED Green Associate).
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 supply chains to make them more resilient. Supply chains have been the focus of much news in the last few years.
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.
In this Spend Matters Vendor Analysis, we provide an overview of SupplyRisk Solutions and its solution for supplier (chain) riskmanagement. Supplier riskmanagement is crucial for a variety of reasons. It tracks geopolitical risk, natural disaster risk and financial risk.
In the vast sea of supply chain information, which SCMDOJO supply chain article truly stands out? Dive into our curated list of the top 12 blogs from 2024 that will elevate your supply chain knowledge and give you a competitive edge. Learn More About Challenges Faced In Procurement Management And Their Solutions 5.
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 supply chain. Find our in-depth guide to third-party and supply chain riskmanagement with accompanying free download here.
This Spend Matters Vendor Analysis gives an overview of Aravo, a third-party riskmanagement (TPRM) solution built to empower businesses to effectively managerisks, enhance accountability and protect themselves in a world where third-party engagements are both more critical and more scrutinized than ever.
This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party riskmanagement. Third-party riskmanagement (TPRM) is often an afterthought for organizations or a measure only taken after a risk event occurs. This content is for members only.
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?
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.
The German Supply Chain 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 supply chain.
Maja Tepeh , Senior Brand Manager at supply chain riskmanagement solution Prewave , shares what their customers are looking for from their digital procurement investment. On an environmental level, progress toward targets needs to be measurable: not just at the customers company, but across their entire supply chain.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building Supply Chain 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% supply chain visibility.
First Name Email Download 51 Prompts → Or receive our famous weekly newsletter Global Supply Chain — Everything About Supply Chain Global supply chain has become a popular way for businesses to source unique materials and products from other countries as they are unavailable domestically. However, What is it?
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When it comes to assessing supply chain risks, planners generally don’t place natural disasters at the top of the list. But with the growing number of extreme weather events, that could change in the coming years.
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