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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 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.
Best-in-Class for Healthcare SupplyChainManagement? 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 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 supplychainmanagement, is transforming, driven by the expertise of certified procurement professionals. Armed with a Public Procurement Certificate , these individuals bring a new level of efficiency and strategic insight to the field.
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 supplychainriskmanagement thanks to Ivalua’s Source-to-Contract (S2C) solution. About Ivalua.
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychainmanagement and procurement sit poised on the frontlines of managing global supplyrisks for their brands. Understanding Supplier RiskManagement.
Your procurement strategy should outline short-term and long-term goals, identify potential risks, and focus on building strong supplier relationships. Leverage Group Purchasing and Cooperative Contracts for Cost Efficiency One of the most effective ways to streamline procurement is by using group/cooperative purchasing contracts.
The subject of the hearing was “Safeguarding the Federal Software SupplyChain.” Thank you for the opportunity to appear before you to address the federal software supplychain. As such, they are well-aware of the challenges involved in addressing vulnerabilities in the federal software supplychain.
From this discussion, we compiled a list of 8 critical supplychainmanagement 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 supplychainmanagement activities that can help Procurement teams build and maintain supplychain resilience now and in the years to come.
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 procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and riskmanagement.
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.
We remain committed to this mission at the upcoming Spring Training Conference, ensuring that attendees leave with comprehensive updates on acquisition policies, programs, and initiatives in subjects like artificial intelligence (AI), cybersecurity, the medical supplychain, and much more. We look forward to seeing you in May!
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.
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.
GSA also consistently pointed to TDR data management as an effective tool in addressing security issues, including supplychainriskmanagement. The results also showed significant improvement in the completeness of the data and its overall use by contracting officers.
Originally published on RiskManagement Monitor. Essentially every company that manufactures goods today depends on other companies to supply the raw or value-added materials that go into their finished products. Secure executive buy-in from procurement, supplychain and IT leadership.
Efficient communication, the ability to securely share information and project manage efforts are all key to scaling collaboration across more processes, suppliers & categories. Ensuring SupplyChain Agility. Manage categories like a financial portfolio. Agility is needed not just to avoid disruptions.
Not surprisingly, riskmanagement and cost reduction are considered the most important priorities for Procurement professionals (see image 1). . RiskManagement is Top of Mind. On the increased importance of managingrisk. CEO RiskManagement Priorities. Main Corporate Risks.
Ivalua, a global leader in spend management , and KPMG Norway today announced that Aker BP has gone live with Ivalua’s S2C and Supplier Relationship and RiskManagement (SRM) solutions to streamline its direct and indirect procurement operations. Redwood City, CA, 25 April, 2023.
Food service leader digitizes procurement to drive efficiency, transparency and effective supplier management as it accelerates global expansion. The deployment of Ivalua’s platform has been tightly integrated with JFC’s backend SAP ERP systems to ensure seamless flow of information and maximum automation.
For those of you who are executives in SupplyChain, Procurement or New Product Introduction/Development, this is a must read. Challenges in this new manufacturer/supplier partnership Burton cites include: Riskmanagement. Globalization. Burton predicts that China and Brazil will become hubs for global sourcing.
A more effective and comprehensive approach to supplier management involves assessing the nature of supplier relationships, setting appropriate risk and performance boundaries, and managingefficient business processes to maximize value. . Why is Holistic Supplier Management important?
Harwood, and Ashley Powers; Miller & Chevalier Chartered The Office of Management and Budget (OMB) released a new memorandum at the beginning of October, “Advancing the Responsible Acquisition of Artificial Intelligence in Government” ( M-24-18 ) (the Memo), intended to help “agencies harness the power of AI.”
For generative AI, identify outputs that are created or modified through the use of AI, such as by including watermarks or metadata; mitigate inappropriate uses and prevent harmful or illegal outputs; and mitigate the environmental impact by using efficient data centers and prioritizing renewable energy. James Peake , M.D., James Peake , M.D.,
Improve operational efficiency Pinpoint process inefficiencies and areas for improvement within the procurement function. Explore our CIPS courses today and gain insights into effective supplier management strategies. More Than Just Price While price is often the most common focus in benchmarking, it is only one piece of the puzzle.
Our popular Fun with the FAR Training course offers an engaging way to master the Federal Acquisition Regulation (FAR) and its implications for subcontractor management. By understanding these regulations, you can better protect your organization from compliance-related risks.
First, determine the specific decisions and actions the risk register will have the biggest impact on, such as: Awarding, expanding, and reducing the amount of business with a particular supplier. Ramping up alternative suppliers due to a sudden change in your current supplychain. Putting a supplier on corrective action.
Non-compliance with DFARS can result in serious ramifications for defense contractors, including contract issues, legal action, financial penalties, and reputational damage, emphasizing the importance of leveraging expert guidance and ensuring compliance across the supplychain.
GSA also consistently pointed to TDR data management as an effective tool in addressing security issues, including supplychainriskmanagement. The results also showed significant improvement in the completeness of the data and its overall use by contracting officers.
At the same time, organizations have never been more exposed to risk from their supplychains, from supply continuity, quality, or ESG violations. Effective riskmanagement or improvement plans must include sub-tier suppliers. Unsurprisingly, this was the 3 rd greatest obstacle identified by Forrester.
As we move forward into the new fiscal year, the Office of Management and Budget (OMB) continues to emphasize cybersecurity priorities for civilian agencies to consider when developing FY24 and FY25 budget requests. Buyer’s guides and informational videos are available to help identify which solutions best fit agency IT security needs.
With its simple yet powerful interface and secure data handling capabilities, customers can capture rebates and enjoy greater control over their spend – all in an efficient manner tailored to meet your needs! Payment Cards are a convenient, cost-saving option for businesses that need to manage their cash flow. What are Payment Cards?
Today, they are tackling new priorities like riskmanagement, supplier compliance, actionable insights. If procurement is to do more, it must be more efficient and free up capacity for higher value activities that support new strategic priorities. Compliance in Times of Uncertainty.
The need for such advancements to be integrated into institutional rules was underscored, acknowledging that technology is an enabler for more efficient arbitration. Firms diversifying their supplychains to regions like Mexico and Southeast Asia were identified as potential sources of disputes.
SupplyChain Strategies: What the Pandemic Has Taught Us So Far? Many nations are now facing the prospect of new lockdowns which will undoubtedly further impact global supplychains. . SupplyChainRiskManagement on the World Stage – Lessons Learned. Global SupplyChains are Here to Stay.
The Software Acquisition Guide for Government Enterprise Consumers was created by the Information and Communications Technology SupplyChainRiskManagement Task Force, a group co-led by CISA and industry representatives. The P100 Facilities Standards can be downloaded here.
Riskmanagement, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. According to Dr. El-Jawahari, procurement’s priorities have shifted in the Middle East since the pandemic’s onset.
FedRAMP Launches Pilot and Website to Improve Efficiency The Federal Risk and Authorization Management Program (FedRAMP) has launched both a new agile delivery pilot and automation website, reports Meritalk. To register, click here. For any assistance with registration, please contact Madyson Whiting at mwhiting@thecgp.org.
His deep understanding of the intricacies of government procurement, combined with his forward-thinking approach, has played a crucial role in promoting fair and efficient procurement practices. Tom’s contributions to advancing the federal procurement system are truly invaluable.
We remain committed to this mission at the upcoming Spring Training Conference, ensuring that attendees leave with comprehensive updates on acquisition policies, programs, and initiatives in subjects like artificial intelligence (AI), cybersecurity, the medical supplychain, and much more. We look forward to seeing you in May!
The priority areas are: Asset Management Vulnerability Management Defensible Architecture Cyber SupplyChainRiskManagement (C-SCRM) Incident Detection & Response Each priority area includes further alignment goals to address these variations.
Data plays a pivotal role in supply, demand, and real-time monitoring of the drug supplychain by medicine authorities. Data mesh to the rescue Data mesh is an architectural framework that enables organizations to redefine how they manage and utilize their data assets. In 2023, 55 new drugs were approved by U.S.
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