Remove Risk Remove Sourcing Remove Supply Chain Optimization
article thumbnail

Procurement vs. Supply Chain Management: Differences, Challenges & Solutions

ivalua

Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. In this blog, we cover the key differences between procurement and supply chain management, and explain where the biggest disconnects typically occur.

article thumbnail

Procurement vs Purchasing: Key Differences, Workflows, and Enterprise Risks

ivalua

Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. What is Procurement? What is Purchasing?

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A procurement professional’s guide to risk events and mitigation strategies — FMCG

Spend Matters

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.

Risk 112
article thumbnail

Strategic Sourcing + Smart Solutions: The Unbeatable Duo for Procurement Success

SCMDOJO

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.

article thumbnail

AI Agents in Procurement: The Ultimate Guide

ivalua

AI is reshaping the way organizations source, manage suppliers, and drive value today. As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.

article thumbnail

Here’s a comprehensive list of the top 100 skills that a Procurement Manager should master

Procurement Templates

Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g., SAP, Oracle) Procurement software (e.g.,

article thumbnail

How the importance of risk management has changed for procurement – and what to do about it

Spend Matters

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.