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The German SupplyChain Act, or Lieferkettengesetz, is a new piece of legislation that came into effect January 2023 with an extended remit from January 1, 2024. In Germany, this figure amounts to approximately 3,000 companies and requires them to conduct due diligence to identify and address potential risks in their supplychain.
Ivalua study finds 97% of procurement leaders see significant disruption in direct materials supplychain; 67% not confident in existing technology; 84% consider modernization a ‘strategic priority’. Nearly all executives surveyed (97%) point to significant disruption today in their direct materials supplychain.
83% fear the biggest disruption from Brexit is yet to come, while increasing supplychain disruption caused revenues to drop by an estimated 18%. Increasing supplychain disruption meant that 28% of UK businesses lost revenue in the last 12 months, with these businesses estimating an average drop in revenue of 18%.
We believe that a key pillar of this transformation is the supplychain. With such growth comes supplychain complexity. Shift towards self-contracting and self-distribution: With health systems gaining significant scale and wanting more control over their supplychain, this shift is accelerating.
Ivalua Spend Management Insights [ivory-search] Navigating CSRD Regulation: What Procurement, SupplyChain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
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.
How an agile SupplyChain drives a sustainable competitive advantage. As companies reassess their supplychains in light of the Covid-19 pandemic as well as growing pressure to improve sustainability, some lessons can be learned by taking a look back. Zara’s SupplyChain Approach. Zara & fast-fashion.
Ivalua’s new Environmental Impact Center empowers Procurement and SupplyChain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. EIC will aid our customers in establishing a more sustainable supplychain to reduce both greenwashing and green-guessing.”
Like every industry Procurement & SupplyChain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. The post Procurement & SupplyChain Experts lined up for Ivalua NOW Virtual 2020 on May 5th!
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react.
The collaboration will deliver offerings that could reduce clinician burnout, improve supplychains and patient scheduling as well as automate contact center support, among […]
Get up to speed with the newest changes and learn what it takes to enable effective, scalable supplier collaboration –including how to reduce risk, improve supplychain visibility, and build operational resilience and responsiveness. Ivalua’s latest eBook is the foundation for a smarter, more resilient supplychain.
Jimmy Norcross, senior vice president of agile digital solutions at CACI, has been selected to chair Executive Mosaic’s 4×24 Secure SupplyChain Group for a second year. 4×24 dinners offer attendees a collaborative space government’s top priorities and challenges.
The term “supplier collaboration” can mean many things to many people depending on your functional perspective. Let’s examine three ways that better collaboration with supply partners creates value for a manufacturer from product design through demand planning. Innovating.
The global supplychain is undergoing an incredible transformation that will change the way we do business. Today, organizations are looking to build supplychain resilience and maximize opportunities for growth as we pivot and prepare for unexpected global events. . Session REPLAY. Körber at a Glance…. Körber + Ivalua.
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.
Identifying and Mitigating SupplyChain Risks Both houses of Congress remain focused on assessing and mitigating supplychain risks, especially for materials used for DoD and other national security applications. Subscribe to our blog here so that you do not miss these updates.
Without digitization, many manufacturing organizations see one or more of these areas suffer due to a reliance on manual processes, a lack of collaboration with suppliers, and little to no visibility of risk during the product development process. Digitization Benefit #1: Inter-Enterprise Collaboration . Realize the Possibilities.
The past few years have highlighted serious deficiencies in prevalent supplychain strategies and the major risk that disruptions pose to corporate success. years and companies can expect to lose 42% of one year’s EBITDA every decade due to supplychain disruptions. Assessing Risk across the SupplyChain.
SupplyChain Optimization : AI can enhance supplychain performance by analyzing vendor reliability, delivery timelines, and cost trends. SupplyChain Visibility : Blockchain ensures real-time tracking of goods and services , critical for complex digital infrastructure projects.
The release includes a broad set of innovations to empower Procurement and SupplyChain leaders to improve collaboration among internal stakeholders and suppliers, proactively mitigate supplier risk and performance issues, gain efficiency and visibility in contracting and improve guidance and effectiveness across procure-to-pay. .
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. The new Ivalua 2021 Supplier Sustainability Report surveys suppliers across the UK, France, Germany and Switzerland, examining how collaboration can boost environmental initiatives. Collaborate for a greener future.
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychain management lessons to learn from the Covid-19 crisis. Ability to collaborate, identify opportunities or issues and act. Some of these challenges include limited: .
The onset of the coronavirus epidemic has accelerated the supplychain digital transformation that has languished on businesses’ “to-do” list for years. Chaos from the coronavirus has made clear that procurement & supplychain practices need to get smarter. Supplychains have been badly disrupted.
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. Focus on digital transformation and adopt procurement technology.
REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supplychain team, representing the Fire & Emergency, Commercial and Recreation segments. Consus is a recognized and trusted global supplychain solutions provider.
Supplychains are complex and varied; to manage them effectively, you need to understand exactly what’s happening in both your supplychain and your customers’ end markets. How can you create a more efficient supplychain and gain a better understanding of overall performance?
On February 12 Ivalua hosted Senior Procurement and SupplyChain Professionals gathered for an Exclusive Dinner on the 34th floor of The Gherkin with F1 Veteran and Status Grand Prix Founder, Mark Gallagher. Lessons from the evening’s discussion: Supplychains have more resources and expertise than any single company.
Yet despite the availability of new platforms and analytics tools, supplychain risk management strategies remain in their infancy post-pandemic. The study also found that suppliers will be vital for successfully ensuring supply continuity. About the research. Global Media Contact. media@ivalua.com.
Ivalua, a global leader in spend management, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychain risk management thanks to Ivalua’s Source-to-Contract (S2C) solution. Global Media Contact. Markus Leutert.
In our survey, Heads of Procurement ranked supplychain fair labor practices (68% of respondents) and preventing bribery and corruption (52%) as a high priority in their CSR endeavors. Their supplychain partners’ capabilities and activities must also be considered. Strategies to Improve Sustainability in Procurement.
The CHIPS Act was created in response to pandemic-induced shortages of semiconductors and other critical manufacturing supplies, causing widespread disruption to supplychains across the country. . 131M towards the creation of a National SupplyChain database. 61B to grow research, support U.S. How can Ivalua help?
Helping businesses reduce the risk of supplychain disruption, optimize inventory levels and make better buying decisions. Redwood City, CA, July 13, 2021 – Ivalua, a global leader in Cloud Spend Management solutions, announces an extension of its Procure-to-Pay solution with a new Inventory Collaboration capability.
We’ve seen increased collaborative spend and in some cases exceeding, the pre-Covid levels. And we’ve also been increasing the amount of collaboration cross sector with other centres of expertise across joint frameworks. We’ve seen conflict across the world, which affects our supplychains.
Last week, round 40 Procurement leaders got together in the very pleasant surroundings of the Royal Lancaster Hotel in London to talk about collaboration, and to celebrate Ivalua’s increased presence in the UK. My own contribution was to lead a discussion around collaboration.
In recent years, Körber’s global supplychain management network has been intergrated increasingly into all relevant processes – from product development to requirements processing – due to its significant contribution to the company’s success.
Retail and tech expert Greg Petro says that, “ while the supplychain moves at a snail’s pace, the consumer is moving at the speed of light… the “see now, buy now” economy is here to stay”. However, supplier collaboration is much easier to talk about than implement. What does this mean for procurement and supplier management?
In mid May State Department announced its intent to sponsor three federally funded r&d centers are FFRDCs is and what they’d like to do, according to this notice is to facilitate public private collaboration for numerous activities related to diplomacy and modernization. What does it mean in supplychain security?
The need for Procurement to improve collaboration with suppliers, and other stakeholders, has gained broad acceptance in recent years. As supplychains were disrupted, those organizations that had the closest relationships with suppliers were most likely to gain preferred access to keep goods flowing, and effectively forecast.
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