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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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New Goals for Procurement – Driving Revenue Growth Through Supplier Collaboration

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Even in terms of the “improved sales / marketing” route, there are possibilities – maybe procurement can work with the marketing team to find innovative suppliers in areas such as digital marketing? For one European bank, the capability of their internal procurement team has become a customer benefit that is winning new revenue.

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Hutchinson Expands its Procurement Digitalization Roadmap with Ivalua

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Hutchinson is a global leader in the design, manufacture, and sale of smart mobility solutions for a variety of markets including automotive, aerospace, defense, rail and industries. Hutchinson started digitalizing procurement in 2014 with Ivalua’s supplier relationship management and spend analysis modules.

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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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CSR is Good for Business, an Independent Consulting Study Reports, but Official Targets & Policies are Lagging Behind

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One of the main challenges that is holding organizations back is the inability to effectively assess individual supplier CSR performance and measure supply chain performance. Survey participants included decision-makers in procurement in various industries, including CPG, finance, telecommunications, technology, and manufacturing/ automotive.

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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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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.