This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Big data is more than a buzz term, and if you are a strategicsourcing professional, it is a concept that should not be ignored. Big data is about synthesizing and making sense of information — better and quicker than your competition. So are you getting the most out of big data ?
Since its inception in the late 1980s, strategicsourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategicsourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.
Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategicsourcing.
Strategicsourcing is a contemporary approach to supply chain management. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
Product manufacturers have become increasingly dependent on their strategicsuppliers to create a competitive advantage in the market. These collaborative supplier partnerships present manufacturers with a number of opportunities to achieve greater product success. Effective Supplier Engagement Requires a Structured Approach.
Offering customers a market leading source-to-pay platform coupled with powerful supplier discovery, diversity and data enrichment from Tealbook. This collaboration enables customers to find new suppliers and access accurate, comprehensive supplier information including diversity status, compliance, certifications and much more.
A checklist guide to getting the most out of your supplier risk management program. The wave of globalization has made businesses more reliant upon their suppliers than ever before. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. .
Supplier information is typically viewed by procurement organizations as one of two things. It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategicsourcing.
Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplierdata foundation.
Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. What is Data Analytics in Procurement? It focuses on how public sector entities can enhance compliance and transparency.
The strategicsourcing technology market is a crowded space. Walk the exhibit floor at the annual ISM conference and you’ll easily find more than 40 providers offering a wide variety of e-sourcing solutions. So how do you know if you have the right sourcing technology for your business?
According to OECD and National Health Expenditure data, US healthcare spending per person was approx $10,224 in 2017. According to 2019 Definitive Healthcare data, U.S. Across this supply chain there is typically a lack of visibility due to siloed information and data. The only way to really understand that is data.
They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. ERPs tend to be built for the back office, so they lack the consumer-like user experience that leads to high user adoption among suppliers.
Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.
“Partnering with Consus Global and our successful deployment of Ivalua will accelerate our progress in supply chain optimization at REV Group by applying a powerful toolset of data, supplier management, and competitive bidding capabilities to our team,” says Rob Vislosky, Chief Supply Officer of REV Group. “We
O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategicsourcing, supplier relationship management, category management, vendor quality, sustainability, and compliance. Ivalua is a leading provider of cloud-based Spend Management software.
TPRM is the process of identifying, analyzing and mitigating risks related to third parties–including suppliers, partners, contracts, service providers, etc). Services organizations highlight confidential data access, data privacy, and cloud/data security as the highest-probability, highest impact risk types (figure 2).
Our customers have seen anywhere between 4-24% cost reduction across a portfolio of initiatives including reduction in procure to pay (P2P) cycle time, increased transparency in the complete procurement life cycle, access to alternate local and global suppliers and effective ways of managing supply chain risks.
The Criticality of the Supply Chain (and Suppliers). Last year, 62% of enterprises that made an investment in supply management technology over the past two years took the suite-based approach (strategicsourcing suite or full Source-to Settle suites. 5 Procurement Increasing Its Focus on and Use of Data.
To maximize your software efficiency and ensure streamlined processes with accurate data, integration is key! At Ivalua, we understand the importance of having a single source of truth for your data. Is your data separate from other customer data in the cloud? As you scale, how secure is your solution offering?
Why did these outsiders want to know about our key strategicsuppliers? . professional secrecy, access to information and data, protection of personal data)”. Is data available to support the institution’s reporting and compliance management? But it seemed a bit of a cheek, really.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Navistar had a jump start on putting robust systems in place, but their suppliers didn’t.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Navistar had a jump start on putting robust systems in place, but their suppliers didn’t.
Identifying Value , is where procurement teams leverage spend data and spend analysis to understand trends in spend and identify opportunities and develop category management strategies. . Creating Value occurs when sourcing and procurement uses relevant sourcing processes and tools to engage and select the best fit supplier.
He said he had seen it all in supply base management and had experienced the feeling of victory leaving plenty of blood on the floor in negotiating with suppliers in his day. He cautioned us that this was a slippery slope and “You will all need suppliers to save your butt one day, never forget that”. It is smart business.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. It covers spend analysis , sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. getting involved early on in the New Product Introduction ( NPI) cycle to ensure suppliers risk is being properly evaluated in production capacity and quality.
Back to the marketplace – JLL chose Ivalua because of the cultural fit between the firms as well as the strong focus on customer experience, innovation , and data , which matched the JLL philosophy. That also brought additional functionality in new areas such as risk, and supplier performance. “We Rogers had no less than 10 (!)
This additional level of requirement provides a perfect opportunity to leverage the capabilities of technology to communicate and centralize spend and supplier information state-wide. Improved Data Management : There is a two-fold challenge related to data management. Data must be made accessible, but it must also be kept safe.
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 procurement teams and suppliers. Director StrategicSourcing Digital & Functional Transformation, .
The total costs, in terms of human lives, disrupted supply chains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. And to maximize the impact of these and other objectives, Procurement needs to be managing all spend and all suppliers.
But now with strategicsourcing and category management, the process has become much easier to track, monitor and control. Add sourcing workflow to the mix, and introduce machine learning that can link directly to the supplier and track savings, then you can start to see where the science comes in.
Global automotive component supplier Meritor is a great example. They configured a unique approach to new product introductions (NPI), digitizing their engagement with suppliers, resulting in bringing more products to market faster and with greater profitability, multiplying their stock price over the period. Plan to avoid those.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content