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Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Work to achieve 100% supplychain visibility.
This function must simultaneously balance cost reduction, quality, and assurance of supply in their quest to maximize profits. . Procurement needs digitization at its core to enable automation, efficiency, and innovation within the supplychain. Digitization Benefit #2: StrategicSourcing Alignment.
From this discussion, we compiled a list of 8 critical supplychain management activities that to improve, build, and maintain supplychain resilience now and in the years to come. But building an agile, resilient supplychain doesn’t happen overnight; it requires forethought and planning.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychain management activities that can help Procurement teams build and maintain supplychain resilience now and in the years to come.
If you work in strategicsourcing and supplier management, supplier collaboration enables you to achieve (or beat!) If you work in the supplychain planning function, supplier collaboration will take the form of shared demand forecasts, inventory positions, and production schedules.
The total costs, in terms of human lives, disrupted supplychains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. There are, however, already some clear lessons to be learned by Procurement and SupplyChain leaders.
If you work in strategicsourcing and supplier management, supplier collaboration enables you to achieve (or beat!) If you work in the supplychain planning function, supplier collaboration will take the form of shared demand forecasts, inventory positions, and production schedules.
To be successful, your procurement team will need to be expert at supplier relationship management, contract management and sourcing and skilled at managing procurement cost as it contributes positively to the business. What is Direct Procurement? million metric tonnes of e-waste in 2019 globally, of which just 17% was recycled”.
The event is free to attend and aims to attract hundreds of procurement and supplychain professionals to discuss and learn more about the latest industry trends and processes. But now with strategicsourcing and category management, the process has become much easier to track, monitor and control.
Will businesses go backwards due to necessity and survival or will they step up and push forward to go further and faster to achieve the right balance? On the business side, it may question the raison d’être and bring focus to finding the right balance between society, the environment and the economy. Balancing the Imbalanced.
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