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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 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’s new Environmental Impact Center empowers Procurement and SupplyChain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. With regulatory requirements, sanctions regimes, and public scrutiny on the rise, sustainability is a top priority for every organization globally.
We believe that a key pillar of this transformation is the supplychain. According to OECD and National Health Expenditure data, US healthcare spending per person was approx $10,224 in 2017. With such growth comes supplychain complexity. According to 2019 Definitive Healthcare data, U.S. Share on Twitter.
ERP vs. Best-in-Class for Healthcare SupplyChain Management? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts. The verdict?
Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.
Air Force to provide data and analysis services in support of the service branch’s Readiness-Based Sparing and Readiness-Spares Packages. LMI has secured a potential five-year, $33.9 million contract from the U.S. and the Digital Depot Vision for Industry.
What are Green SupplyChain Strategies? A recent survey that Ivalua did in the UK, “ Gaining the green view, How smart procurement can kick-start sustainability initiatives ” showed that 87% of UK businesses see “greener” supplychains as a competitive advantage.
Open source geospatial artificial intelligence (AI) and machine learning (ML) analyses along with Internet of Things (IoT)-connected sensors can power near real-time data built on the cloud and assist in decision-making. project is designed to use geospatial big data and AI/ML to mitigate the impact of deforestation. The SeloVerde 2.1
In recent years, sustainability has increasingly become a top priority for many organisations. Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Yet currently, this line of alignment on green initiatives does not exist between many across the supplychain.
SupplyChain Transformation is ongoing but never more important than in 2021. SupplyChain Risk and Supply Continuity: Risk moved front and center of Procurement during the pandemic, as procurement organizations grappled with constrained supplychains. What Will Impact Procurement Processes in 2021?
” – Vendor Manager | ONE AMERICAN BANK Use Data and Analytics to Make Informed Decisions Modern procurement relies heavily on data. Spend analysis, supplier performance data, and market trends can help you identify inefficiencies and opportunities for savings. I always ask myself, ‘How do we get more savings?’
This vision aligns with the aspirations of many governments: leveraging technology to enhance public services , reduce costs, and promote sustainability. Foster sustainability by prioritizing green and energy-efficient technologies. However, one critical element often overlooked in these discussions is public procurement.
While companies have capitalized on globalization over the last few decades, the COVID-19 pandemic exposed a number of weaknesses within supplychain and procurement industries. Avoid the Instability of International SupplyChains. This gives you greater control over the details involved in your supplychain.
As the demands on supplychains continue to increase, so do the expectations of consumers. Consumers also expect transparency – in product origin, quality standards, and how organizations are improving their environmental and sustainability efforts. . Leveraging Technology to Transform The SupplyChain.
Sustainable government procurement is the process of acquiring goods and services that meet the government entity’s needs while minimizing environmental and social impacts. How they carry out that duty, therefore, can affect whether they can achieve their sustainable development goals.” Sustainable Development Goal (SDG) No.
The right cloud technology leads to more sustainable IT and business operations. As a foundation for innovation, the cloud supports the delivery of sustainable products, services, and business models, and gives organizations the opportunity to transform themselves with sustainability at the core of their operation.
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.
P rocurement, a critical component of supplychain management, is transforming, driven by the expertise of certified procurement professionals. The impact of such training is significant, leading to more streamlined procurement processes and better decision-making in supplychain management.
Ivalua Spend Management Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. According to SupplyChain Now’s Greg White, the cracks have been exposed and there is nowhere to hide.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supplychain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change. See you soon!
16th July 2020, London – Research from Ivalua, a leading provider of spend management cloud solutions, has shown that six-in-ten (60%) UK businesses have decreased their investment in sustainability initiatives due to the COVID-19 pandemic. A lack of digital maturity and a focus on supplier cost and quality are also limiting green practices.
Following the global climate protests that swept the world in 2019, sustainability rose to become a business priority. In our latest study of UK-based procurement, supplychain and finance professionals, we found that 60% of UK businesses have decreased investment in sustainability initiatives as a result of the coronavirus outbreak.
LMI announced it will offer highly specialized services and analysis to the Air Force and the Air Force Sustainment Center to support its Readiness-Spares Packages and Readiness-Based Sparing programs under a $33.9 The company will analyze supplychaindata and provide in-depth insights to improve supplychain readiness and management [.]
Additionally, by researching new suppliers every few months or so, they can ensure they’re always getting the best deal possible on the goods and services they need to sustain their operations. This could include negotiating more favorable terms with suppliers or renegotiating existing contracts to ensure that prices remain competitive.
Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and risk management. What is Data Analytics in Procurement? Prior purchase data is also used for demand forecasting improving resource management and operational efficiency.
We’ve completed over 250 deep dive assessments now of our suppliers, supplychains and institutional procurement teams and their internal stakeholders. We’ve seen conflict across the world, which affects our supplychains. And even more important that we see a real focus on environmental sustainability.
Photo credit: Flickr While carrying out research on the impact of digital technologies for public procurement governance, I have realised that the deployment of artificial intelligence to promote sustainability through public procurement holds some promise.
REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supplychain, procurement and finance business leaders on Effective Procurement Performance Measurement. on time payments) and spend visibility.
CTA April 28, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. Gaps and dysfunction in the supplychains and a lack of visibility are making it difficult to support Environment, Social, and Governance (ESG) initiatives. Those are three hot topics in the enterprise today.
As more public policy objectives make their way into the world of acquisition — supplychain, cybersecurity, sustainability, domestic and socioeconomic sourcing requirements, to name a few — GSA is trying to bake those into acquisition vehicles up front so agencies have an easier time complying.
In recent years, sustainability has increasingly become a top priority for many organizations. Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Yet currently, this line of alignment on green initiatives does not exist between many across the supplychain.
Buyers are expected to scrutinize every aspect of the purchasing process to identify ways to reduce their carbon footprint, source sustainable materials, and promote diversity. The amount of data associated with these initiatives can be exponential, a burden too heavy to manage manually. ESG Objectives for Buyers.
Progress on sustainability is notoriously hard to measure for organizations, but the needle is moving in the right direction. According to the SBTI, the next hurdle lies outside of organizations’ four walls in organizations’ supplychains. It’s incredible to see the strides we’ve made over the past year or so.
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.
And at the same time, we’re seeing this growing swell of compliance costs, whether it be cybersecurity, increasing audits, supplychain regulations that are all creating an environment where doing business with the federal market is actually getting more expensive and the barriers are going up.
How do Chief Procurement Officers and their teams leverage digital transformation to take control of their data and better deliver against their strategic objectives? . Johan, can you give us a bit of background on the digital transformation journey at Booz Allen and the role of data? What role did data play on a day-to-day basis?
As far as what’s next for federal acquisition, Hashmi stressed the importance of acquisition as a lever for public policy and embracing data in acquisition. Though people might view procurement as an old-school process filled with paperwork, he said “smart 21st century acquisition is a data problem — inherently a data problem.”
These solutions use artificial intelligence (AI) algorithms and data analytics tools to monitor operations, detect anomalies, and predict possible defects or breakdowns in equipment before they happen. The Air Force’s Rapid Sustainment Office (RSO) plays a critical role in addressing maintenance challenges.
In today’s rapidly changing world, sustainability has emerged as a critical factor for businesses seeking to thrive and make a positive impact. To demonstrate their commitment to sustainable practices, many organizations are turning to certifications and ecolabels.
Acquisition is the primary way where the government gets access to the products and services that it needs to deliver on the mission, and it’s data driven process. 100% of acquisition, the heart of the smart modern acquisition is data. And we’ve done significant work over the last few years to get our data position strong.
Vision: Ivalua believes that digital transformation will make supplychains more efficient, sustainable and resilient, and unlock the power of supplier collaboration. The final data set was compiled from 15 million ratings across 70,000 companies large and small. 27, 2021 through Nov. About Ivalua.
Almost all UK businesses say sustainability-led innovation has become a priority, but most lack plans to improve the sustainability of goods and services. In light of rising gas and oil prices, there should be a renewed focus on sustainable innovation, and identifying how being greener could cut costs.
Featuring leaders and senior stakeholders from across Scotland’s procurement community and beyond, it’s where delegates can learn and be inspired by what is happening now – and what’s planned for the future: all with the aim of improving public sector service delivery and delivering a better Scotland for all.
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