Remove Automotive Remove Efficiency Remove Procurement Team
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Hutchinson Expands its Procurement Digitalization Roadmap with Ivalua

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Ivalua, a global leader in spend management , and its partner Axys Consultants today announced that Hutchinson has selected Ivalua’s eProcurement software to expand the scope of its currently implemented solution and meet its evolving procurement requirements. In 2022, it generated a revenue of €4.400 billion.

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Hitting The Brakes On Out Of Control Supplier Master Data W/ Cyrille Naux

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If this foundation does not exist or if it is shaky, then buyers don’t know how much the company is spending with a given supplier, let alone how they can improve the efficiency or impact of a given spend category. Direct spend suppliers are large, global, and absolutely critical to the company’s operations and their competitive advantage.

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Delivering Value Through Cross-Function Collaboration

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The book gives a clear view of the benefits of cross functional collaboration for procurement and also some actionable insights as to how procurement can foster collaboration with other areas of the business. . By supporting the budget holders they can then deliver value to the organisation.

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Ivalua Announces New Innovations for Managing Direct Materials Spend

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This process is common in Automotive and other manufacturing industries to ensure that selected suppliers are capable of meeting product quality requirements, and allows program managers and category managers to identify, document, and mitigate potential issues and risk with proper audit standards.

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The Top CPO Metrics Used to Measure Inflation, Risk, and Uncertainty

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For example, consider the challenges in the automotive industry that stem from the supply chain issue in chip manufacturing. Achieving these goals requires maintaining complete visibility across your suppliers (into tier 2 and 3), and setting up processes for effective and efficient collaboration and transparency across the supply chain.

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How Modern Software Empowers Procurement with Agility and Resilience in Times of Crisis

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Enabling this holistic strategy requires aggregating and analyzing data generated at every stage of Procurement — from sourcing to purchasing, to contract lifecycle management and invoicing — and extracting actionable insights that can inform decisions about suppliers, products, spend management and more. .

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Top strategies for procurement to help support revenue growth

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With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurement teams to prioritise supplier innovation and revenue growth opportunities. . Procurement’s role and status have been on an upward trajectory for many years, accelerating during the Covid-19 crisis.