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With the responsibility of protecting attendees, crowd control, and maintaining security, procurementteams play a critical role in making sure the staff has everything they need to execute the event. Procurementteams must source reliable security services that can scale up depending on the size and complexity of the event.
In his article “ The Future of Public Infrastructure is Digital “, Bill Gates envisions a world where infrastructure is smarter, more efficient, and digitally integrated. However, one critical element often overlooked in these discussions is public procurement.
Procurement analytics is quickly becoming a core practice for efficient operations and effective sourcing in today’s rapidly changing business environment. Data-driven decision-making enables procurementteams to improve performance and align with wider organisational goals including corporate social responsibility and risk management.
As public procurementteams face increasing pressure to improve efficiency while upholding compliance and transparency, it’s essential that they have the right strategies in place. After all, how can you streamline procurement processes without sacrificing your standards? Data Insight Strategy. Scalability.
Reviewing pandemic responses and strategies, some CPOs and Procurementteams managed a bit better than their peers as uncertainty and change mounted. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. . Why is Supplier Information so important?
“Local governments face issues that range from balancing public safety and individual privacy rights to managing vast amounts of data securely and efficiently. Transparency and accountability are crucial to maintaining public trust and require clear policies on surveillance use and data access.”
How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy. The key for procurementteams is to stay ahead of inflationary trends so they can anticipate needs and adjust accordingly before problems arise.
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 supply chain risk management thanks to Ivalua’s Source-to-Contract (S2C) solution. Redwood, CA, 17 October, 2022.
For procurement organizations, the German Supply Chain Act presents both challenges and opportunities. The new set of regulations add an additional layer of compliance and risk management to the procurement process. Further, it is essential that supplier management and data is holistic (i.e.,
Automating strategic sourcing not only simplifies the process but also offers significant savings, increased efficiencies, and better governance. Organizations with an integrated strategic sourcing platform powered by automation can yield considerable benefits in terms of cost savings, efficiencies, and intelligent decision-making.
Responsible procurement wise. We’ve completed over 250 deep dive assessments now of our suppliers, supply chains and institutional procurementteams and their internal stakeholders. But despite all of these things, our local government colleagues that are procurementteams continue to deliver.
Master supplier data doesn’t just matter to Procurement. It plays a role in a number of necessary business functions and is a key enabler of automation throughout the Procure-to-Pay (P2P) process. Accurate supplier data is the fuel that drives critical business processes that impact the bottom line. Risk management.
Leading the charge in navigating this constantly shifting trading environment is the Procurement department. Procurementteams are becoming a more intrinsic part of business strategy, able to help organisations manage and predict supply chain risk, unlock innovation, create sustainable cost savings, and help grow revenue.
AI can bring many benefits to procurementteams and their companies. In this post, we take a look at the benefits of using AI in procurement departments. Information AI allows procurementteams to mine huge amounts of complex data. This can be sped up by the proper organisation of relevant data beforehand.
Everything procurement delivers – from savings to risk mitigation to value – is predicated on having access to clean, trustworthy data. He gave a keynote presentation about his company’s procurement and supply chain transformation journey – one that is still underway.
In procurement, benchmarking involves assessing supplier performance, costs, and processes against industry standards or competitors to ensure you are receiving the best value. Types of Benchmarking in Procurement The benchmarking approach depends on the objectives and data available.
In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. ProcurementTeams Step-up. Help staff sell procurement’s value during recovery.
Reviewing pandemic responses and strategies, some CPOs and Procurementteams managed a bit better than their peers as uncertainty and change mounted. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. . Why is Supplier Information so important?
Lifted from their latest webinar, Jean-Baptiste Anne from Amazon Business and Vishal Patel from Ivalua offer insights into tail spend management programs and the ROI these programs can generate for procurementteams. . How to analyze your Tail Spend: Understanding spend data. Tail Spend Challenges.
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.
Across the country, state and local procurementteams are taking up the call to expand electric vehicle (EV) infrastructure. Additionally, the rapid pace of technological advancements in the EV sector can make it difficult for procurementteams to keep up, leading to concerns about the long-term viability of their investments.
Ivalua Spend Management Insights [ivory-search] Source Wisely: Your Top 3 Public Procurement Software Essentials April 17, 2023 | | Public Sector by Jarrod McAdoo Today, state and local governments are tackling top priorities such as legacy modernization, cybersecurity, and cloud computing. As you scale, how secure is your solution offering?
Doing so safely requires having access to the right data, and the tools and technologies to act on it. It also requires a focus on procurement-supplier relationships, and striving to be the customer of choice for your suppliers. Balancing New Priorities Makes Procurement More Valuable. Automation is also an essential capability.
From this data, you may infer that Procurement is ready to play an active role in managing supplier risk. Merging CEO expectations with Procurementteam priorities will offer some clear opportunities for CPOs. Embedding ESG into the Procurement processes and strategy. Main Corporate Risks. Catalyst for Change.
A recent webinar hosted by Supply Chain Now, “Balancing Cost, Risk and Sustainability in the Midst of Uncertainty, ” took an in-depth look on what it takes to transform Procurement into a highly efficient function that supports these key initiatives. When I say technology, I’m not talking about spreadsheets,” White said.
A recent webinar hosted by Supply Chain Now, “Balancing Cost, Risk and Sustainability in the Midst of Uncertainty, ” took an in-depth look on what it takes to transform Procurement into a highly efficient function that supports these key initiatives. When I say technology, I’m not talking about spreadsheets,” White said.
It is a crucial process for organizations that are looking to streamline their procurement activities, better manage spend and suppliers and increase operational efficiency. The 7 Steps of Source-to-Pay Source-to-Pay is an interconnected cycle that gives Procurement the means to drive value for their business.
How to incorporate ESG data into sourcing, procurement, and supplier management decisions. Ways to identify and gather ESG data in order to improve decision making. For example, our integration with Tealbook can make the requirement to discover and include diverse suppliers efficiently as part of the source-to-pay process. .
Aside from mitigating risk and saving organizations money, Procurementteams have an opportunity to add value by working closely with suppliers to reduce carbon emissions while ensuring supply chain continuity through diversity and proper forecasting. Tracking the Metrics that Matter. Delivering Better Visibility Across Suppliers.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. Why is visibility so important? Set expectations with suppliers.
Risk management has become critical, because it’s no longer just about sourcing efficiencies and cost reduction; it’s about ensuring the availability of products, and the materials needed to manufacture those products,” Dr. El-Jawahari said. . million over the next two years to digitize more of the procurement function.”.
Manufacturers can off-set the effects of inflation and avoid passing on price increases to their goods and services by maximizing the efficiency and effectiveness of the procurement function. Consequently, staying on top of these financial trends gives manufacturers a critical edge in predicting their bottom line.
When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?
Procurement software offers a one-stop solution that covers the whole range of contract management challenges. No integrated workflows: ERP systems don’t provide integrated workflows or automatic approval management, making it difficult to set up and maintain efficientprocurement processes.
Kicking off the day with our first keynote, Ivalua’s Founder and CEO David Khuat-Duy will present his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurementteams and suppliers. Evolution to Accommodate Growth, Navy Federal Credit Union.
Teams also need to to mitigate supply chain risk by prioritizing digital transformation and adopting procurement technology. #4. An Ardent 2021 survey of more than 350 CPOs and other business leaders found that there’s a strong push by procurementteams to adopt suites instead of a collection of standalone or one-off solutions.
According to Jones, procurement software has traditionally focused on aggregating data and looking back at what already happened in order to prepare for what could happen in the future, which isn’t always useful. It is important for organizations to ensure a solid data foundation now to capitalize on improving AI capabilities.
Creating a dialogue with suppliers ensures that procurementteams can identify opportunities for innovation in a green supply chain that benefits all parties. Through this collaboration, the entire production process can benefit from improved efficiency and waste reduction. . Pick the right tools for the job.
Creating a dialogue with suppliers ensures that procurementteams can identify opportunities for innovation in a green supply chain that benefits all parties. Through this collaboration, the entire production process can benefit from improved efficiency and waste reduction. . Pick the right tools for the job.
The Importance of Competition in Public Procurement The essence of competition is to allow multiple suppliers to compete for a government contract under the same conditions so that the best value is achieved. This is not just theoretical; the benefits of competition are tangible, and public bodies and citizens alike can feel them.
Seeking to light the way on the journey, Procurement Leaders, Covéa and Ivalua joined forces on a recent webinar to inspire Procurement leaders as they boldly go where few Procurementteams have gone before. Show proof of better efficiencies and added value. Data is the new fuel of your organisation.
Embarking on an eProcurement implementation can result in more efficient government, improved compliance and increased transparency. There hasn’t been an implementation project that I have been a part of where the team walked away without lessons learned for future implementations, and public sector implementations are no exception.
Improving the efficiency and effectiveness of sales and marketing activity. In every case here, it’s clear that procurement has a potential role to play. For one European bank, the capability of their internal procurementteam has become a customer benefit that is winning new revenue.
It involves asking: Beyond the immediate deliverables, how does this procurement positively impact communities? Beyond the Bottom Line: Social value prioritises community well-being over just financial efficiency. These initiatives make it possible for suppliers to implement social value model obligations more efficiently.
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