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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.
It has the authority to issue recommendations for removing or excluding products and services from federal supplychains. This rule will also help make government supplychains and information systems more resilient and less subject to disruptions that could impact government operations,” it adds.
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.
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. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. .
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).
With rising costs and declining margins, health systems must become more efficient and productive. We believe that a key pillar of this transformation is the supplychain. With such growth comes supplychain complexity. Share on Twitter. According to 2019 Definitive Healthcare data, U.S.
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?
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.
For example, the nature of the market may vary depending on whether the requirement can be sourced from multiple suppliers, a single supplier , or just a few suppliers. From a supplier perspective, this competition may determine whether the procurement process involves full competition , limited competition , or a single source.
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.
P rocurement, a critical component of supplychain management, 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.
In Part I and Part II of this series, we have investigated the way in which supplier diversity programs have developed over time and which nations are leading the way in the space. The growth of supplier diversity initiatives in these regions (and others) provides unique opportunities and challenges for multinational corporations.
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. About Ivalua. Global Media Contact.
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.
For the Government, supplier diversity programs are something procurement professionals in the United States (US) have accepted as a key element to their procurement success. Since their inception more than 50 years ago, supplier diversity programs have spread beyond public procurements. Supplier Diversity on the World Stage.
In order to evaluate whether suppliers offers are giving a business the optimum value, benchmarking is required. Explore our CIPS courses today and gain insights into effective supplier management strategies. Take the next step towards mastering procurement dynamics and elevating your organisation’s supplychain effectiveness.
SupplyChain Transformation is ongoing but never more important than in 2021. Despite the initial capital investments, these technologies are driving efficiencies that ultimately lead to cost reduction. What Will Impact Procurement Processes in 2021? This was due in large part to the way they were designed. “The
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.
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. Onshoring suppliers is another recent reactionary trend.
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.
As the demands on supplychains continue to increase, so do the expectations of consumers. Supplychains are particularly affected by these changes, as well as other external influences that threaten to disrupt their daily operations, such as: extreme weather conditions, supply shortages, global health issues, and economic crises.
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 .
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.
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.
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.
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. They include commercial software firms, cloud providers, systems integrators, and IT hardware suppliers.
The release features a broad array of innovations to empower customers to better manage their spend and suppliers. Through its ease of use and native integration with the sourcing solution, SDC will empower any user to leverage optimisation and make smarter allocation and supplier selection decisions.
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. With this in mind, our research found far too few European suppliers are being regularly assessed on sustainability practices, with less than a quarter (24%) seeing themselves routinely measured on carbon emissions.
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychain management and procurement sit poised on the frontlines of managing global supply risks for their brands. Understanding Supplier Risk Management. Product recalls. Regulatory penalties.
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.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.
Procurement analytics is quickly becoming a core practice for efficient operations and effective sourcing in today’s rapidly changing business environment. This knowledge enables procurement professionals to streamline operations, optimize spending patterns, and improve supplier performance.
I will be doing the post on vehicles sometime later this week Contract type 15 - food products, catering and automated vending For food procurement, the text of the Resolution and contract type 15 include a reference to the need to have 'short supplychains'. So what is a 'short supplychain'?
Amazon Web Services (AWS) is supporting the Government of Pará, Brazil, in designing and deploying SeloVerde (Green Seal) , a cutting-edge tool to address climate change challenges and traceability in deforestation-risk supplychains. SeloVerde 2.1 monitors deforestation by leveraging AI, ML, and open source data on the AWS Cloud.
New release features AI-powered contract management, more seamless messaging and communications, supplier risk and performance enhancements and procure-to-pay efficiency . The Message Center is an embedded chat functionality that will enable collaboration and contextual discussions amongst internal users and suppliers.
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!
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. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. .
Procurement and supplychain teams will play a crucial role in making this vision a reality. However, implementing category strategies for successful sourcing and supplier management can be challenging without the right tools. When you work with local experts and access nearby resources, you can ensure top-quality products.
Leveraging purchasing power to capture volume- based pricing within a competitive supplychain builds sticky relationships with healthy suppliers, keeps input costs low, and acts as a hedge against inflation. This is a great place to begin the conversation about supplier trade credits and terms. Is it worth it?
Convinced that their sizes and brands will attract suppliers anyway, they entrench themselves behind the gates of rigid procurement processes. This multi-channel strategy tailored to suppliers’ capabilities is what differentiates best-in-class from a peer group as a report from The Hackett Group reveals.
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. Responsible procurement wise. We’ve seen massive political change.
Empowering Procurement & SupplyChain Leaders Across the Globe. Canada, the Middle East, South America and Asia are now using Ivalua’s platform to power their digital transformations, improving efficiency, reducing costs, managing risk and growing revenue. “We Hundreds of the most admired companies from Europe, the U.S.,
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. Most companies recognize that good supplier relationships are more than simply arm’s length transactions between opposing parties.
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