This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
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.
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. smartKYC is a solution that helps address such challenges. This content is for members only. Visit the site and log in/register to read.
Many spend analytics vendors apply that analytical expertise elsewhere, such as contracts, carbon emissions or supplier performance. This piece covers how risk data specifically comes into play for traditional spend analytics vendors. This piece covers how risk data specifically comes into play for traditional spend analytics vendors.
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.
The advisory explores how leading companies are: Accelerating supply chain flexibility with “China-Plus-One” and regional diversification strategies Shifting risk through outsourced supply chain financing and operations Embedding tariff contingencies into supplier contracts and cost models Read the report for strategies to protect your supply chain (..)
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?
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.
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.
Financial institutions must navigate a complex web of policies, procedures and regulations to ensure compliance and manage risk. It required a partner that would help embed its intricate buying processes — with all its validations, risk assessments and tiered approvals — into a unified system.
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.
As part of our third-party/supply chain risk management (TPRM/SCRM) series, today we address the risk management landscape. Many solutions exist to manage risk in its broadest definition. The post The risk solution landscape is complicated appeared first on Spend Matters. Visit the site and log in/register to read.
As part of our series on all aspects of risk management, we are taking a look at the digital capabilities of risk solutions (supplierrisk management, TPRM and SCRM). Risk governance: Risk identification and sensing; Risk analysis and evaluation; Risk treatment and mitigation; Risk monitoring; Incident management.
As part of our series on all aspects of risk management, we are taking a look at the digital capabilities of risk solutions (supplierrisk management, TPRM and SCRM). Risk governance: Risk identification and sensing; Risk analysis and evaluation; Risk treatment and mitigation; Risk monitoring; Incident management.
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.
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.
The annual State of Flux global supplier relationship (SRM) management study made its appearance in London last week at the 2024 Supplier Management Summit in its 16th rendition, this time themed ‘Return on Relationships (RoR). Governance — Determining which suppliers bring the most value to the business and which to prioritize.
However, risk is a major element of the contract lifecycle. Whether this is due to a contract being written on third-party paper or a particular redline/edit that does not align with the company’s playbook, CLM solutions use both internal and external tools to assess risks. Here, we explore the overlap of these types of solutions.
The Association for Supply Chain Management (ASCM) has launched a new supplier Relationship Management certificate designed to help supply chain professionalsbuild strong supplier relationships. Strong supplier relationships help mitigate risk…
This Spend Matters Vendor Analysis gives an overview of RapidRatings, a solution built to address financial risk. In todays globalized market, the financial health of suppliers has become a critical concern. This is where RapidRatings comes into play. This content is for members only. Visit the site and log in/register to read.
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.
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. Workshops on negotiation and supplier relationship management.
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.
Strategic Objectives Cost Savings: Achieve cost reduction targets through effective supplier negotiations and strategic sourcing. Supplier Relationship Management: Build and maintain strong supplier partnerships to ensure long-term business value. Savings can be cashable or non cashable i.e. cost avoidance.
Maja Tepeh , Senior Brand Manager at supply chain risk management 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.
Spend analytics is crucial for procurement teams as it provides valuable insights into the organization’s spending patterns, supplier performance and potential cost-saving opportunities. Additionally, it can model and marry a variety of data alongside the spend, from contracts to risk. This content is for members only.
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.
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. With supply chains stretching across borders and relying on multiple vendors, the risks are highbut so are the opportunities. Evaluating these risks is essential.
“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?
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!
Essential Guide to Supplier Collaboration Supplier collaboration is redefining success across industries. Strong supplier partnerships drive new product development, unlock cost efficiencies, and ensure supply chains are adaptable to changing market conditions.
Metrics around supplier consolidation and spend concentration are also common. Customers use Onventis to consolidate suppliers and negotiate better terms. Risk reduction: The platforms compliance features (e.g., GDPR alignment, secure data storage) reduce organizational risk.
As a procurement professional, ensuring your suppliers are acknowledging the role of sustainability within their practices is highly important for, not only the obvious – improving the planet – but building effective relationships and meeting your company’s objectives. What Should a Supplier Sustainability Assessment Contain?
Managing a successful supply chain requires more than just ensuring products are delivered on time its about building strong, effective partnerships with your suppliers. Supplier collaboration refers to the strategic process of working closely with suppliers to improve the efficiency, quality, and overall performance of the supply chain.
It is now a strategic enabler of operational efficiency, cost savings and supplier innovation. Heres where e-procurement processes often break down: Fragmented catalog and supplier management: Inconsistent supplier onboarding and unstructured catalogs result in pricing discrepancies and procurement delays.
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. Moreover, S&OP fosters a sense of shared responsibility for quality across the organization and its suppliers.
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.
This article aims to help you understand different procurement fraud risks, arm you with a set of effective strategies for managing procurement fraud, and help you understand the true benefits of effective procurement fraud management. Collusion involves suppliers and employees conspiring and coordinating to manipulate procurement outcomes.
In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. Join us as we delve into the world of Supplier Relationship Management, unlocking the secrets to success in the face of tariff uncertainty.
AI also enhances supplier profile management, enriching, verifying and completing supplier data to provide a more comprehensive view of risks and opportunities. AI-powered catalog management is another game changer, using predictive analytics and anomaly detection to ensure accurate and optimized supplier offerings.
The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. 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.
With more than 7,000 buyers and over 825,000 suppliers on its network, the company offers a comprehensive platform that blends SaaS technology with managed payment execution, supplier onboarding services and deep ERP integrations. That said, integration risk will be a critical factor.
The series follows the methodology described in our Aligning Finance and Procurement in-depth guide , which offers a practical, structured approach to enhancing cash flow visibility, optimizing payment timing, reducing working capital risk and improving liquidity outcomes through closer collaboration between finance and procurement.
It is about running an RFx or finding new suppliers in response to a trigger, like a contract expiry, a supply issue or a cost-cutting initiative. The product (Guided Strategy Creation ) gives procurement teams a consistent way to define category strategies, document risks and objectives, and track results. That includes Coupa itself.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content