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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 risk management with accompanying free download here.
As part of our theme this quarter on Procurement’s role and value in supply chain risk management, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways. And we must remember that one cannot escape supply chain risks.
When we refer to man-made risk, we are talking about disasters that have an element of human intent or negligence, as opposed to natural disasters which are unavoidable and occur naturally. Find our in-depth guide to third-party and supply chain risk management with accompanying free download here. What causes man-made risk?
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 risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
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 Risk Management 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 Risk Management 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 supply chain make the practitioner sit up and think differently. And Stephen is not alone.
With the advent of COVID-19 pandemic, supply chains and demand have been massively disrupted and are causing inventory issues, unclear delivery reliability, and a significant risk in single-source supplier circumstances.…
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, risk management, and cost reduction.
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.
Effective and efficient tariff management is rooted in robust direct materials and supply chain risk management. It ensures that organizations have the right materials sourced from the right suppliers at the right time and for the best cost, making tariff management a natural part of these processes.
Ivalua, a global leader in spend management , today announced that Tchibo, one of the largest coffee roasters in the world, has chosen Ivalua and its partner Capgemini to digitize Source-to-Contract (S2C) for its indirect purchasing of goods and services. Founded in 1949, the company today has a turnover of €3.2 Learn more at www.ivalua.com.
Here’s a detailed guide to enhance procurement capabilities across various domains: Strategic Sourcing and Supplier Management Actionable Steps: Analyze Spend Data: Use spend analysis tools to identify areas where costs can be reduced or efficiencies improved. Resources: Online courses on strategic sourcing (e.g.,
This webinar will explore how companies can proactively address compliance risks–rather than reactively responding to–UFLPA enforcement actions. Ethan will also explore how predictive data and strategic due diligence can help organizations stay ahead of regulatory challenges and strengthen compliance.
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.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
With supply chains stretching across borders and relying on multiple vendors, the risks are highbut so are the opportunities. In this article, well explore proven strategies to safeguard your supply chain, minimize risks, and keep your business running smoothly, no matter what obstacles lie ahead. Evaluating these risks is essential.
This Spend Matters Vendor Analysis gives an overview of Enlighta Spice, a supplier governance and risk solution built to manage performance and risks related to external spend with a focus on services spend. This content is for members only. Visit the site and log in/register to read.
Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.
Additionally, spend analytics enables procurement teams to track compliance with procurement policies, identify potential risks and ensure that resources are allocated efficiently. Additionally, it can model and marry a variety of data alongside the spend, from contracts to risk. This content is for members only.
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?
The move addresses a long-standing gap in many procurement technology offerings: helping teams define and manage procurement strategies, rather than just executing sourcing events. Supply disruptions , inflation, geopolitical tensions and regulatory demands are forcing companies to revisit sourcing decisions more often.
“Halo Ai was born out of a deep industry need, which I recognized when I took on the role of Head of Third-Party Risk at a major Canadian financial institution, a company with over 190 years of history and a workforce exceeding 100,000 employees. What are Halo Ai’s greatest strengths?
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.
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. Who Should Prioritize an S2P Digital Transformation?
Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supply chain dynamics, identifying potential risks, and optimizing sourcing strategies. Discuss bottlenecks in the supply of raw materials or alternate sources to procure balance and level production plans.
As businesses navigate these turbulent waters, the stakes have never been higher, with the potential for unforeseen risks and challenges at every turn. The fluctuating trade policies and geopolitical tensions have created a volatile environment, leading to a surge in supply chain risks.
AI is the game-changer that allows procurement professionals to escape the cycle of transactional work and focus on what really moves the needle: strategic sourcing, supplier collaboration, and advanced analytics. Those who dont will risk falling behind in an increasingly fast-moving and data-driven world.
This expansion of compliance requirements translates directly into more administrative workload, higher risk of error and potential bottlenecks at US ports. But even so, this latest test is a clear reminder that risks come from all angles, and not all of them can be forecasted.
What is Halo Ai HaloAi is a third-party risk management (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.
Risk reduction: The platforms compliance features (e.g., GDPR alignment, secure data storage) reduce organizational risk. Customers want to quickly adjust sourcing strategies and build agility into their supply chains. Customers use Onventis to consolidate suppliers and negotiate better terms.
Having been heavily involved with this cycles SolutionMap, Spend Matters Director of Strategic Projects & Research Analyst, Nikhil Gaur, noted that alongside the Spring 2025 update … We are thrilled to release our Intake & Orchestration SolutionMap rankings for the first time. Data is refreshed every 6 months.
In today’s interconnected digital landscape, the backbone of global trade and supply chains faces a new and evolving threat – cyber risks. The Evolution of Cyber Risks in Supply Chains Cyber risks in supply chains are constantly evolving, presenting new challenges for businesses worldwide.
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.
The idea for True ValueHub was born out of the pain points our Founder, Gautam Pasari, experienced first-hand over the years working for various manufacturing companies while leading their strategic sourcing, category management and digital transformation functions.
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 modern procurement leader must manage risk, drive ESG, deliver cost savings and enable innovation often without additional headcount or budget. Externally, risk and compliance obligations mount, supply chains are stretched and stakeholder expectations broaden. Procurement has long sought a strategic seat at the table.
Understanding regulations is critical – but what truly builds resilience is training agile, informed teams who can pivot fast, minimize risk, and protect performance when global trade gets turbulent. It sends shockwaves through sourcing, supplier relationships, profitability, and operational decision-making.
For sourcing and contracting, natural language processing (NLP) enables metadata extraction at both document and clause levels, offering granular visibility into contract terms and obligations. It also plays a critical role in fraud detection and compliance monitoring, analyzing patterns and anomalies to flag potential risks in real time.
To better understand the pros and cons of a GenerativeAI Gartner Magic Quadrant Mock-up, you must first understand the pros and cons of the original source, e.g., quantifying how far the AI apple actually falls from its tree or original source. Companies often use it to de-risk vendor selectione.g.,
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. The new set of regulations add an additional layer of compliance and risk management to the procurement process. Export and import of certain hazardous wastes.
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. Additionally, procurement technology can help organizations improve compliance with regulations and reduce risk.
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