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
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.
These multifaceted issues underscore the need for a diverse, well-informed procurementteam that can navigate the technical, ethical, legal and community aspects of implementing effective public safety tools while ensuring responsible use of taxpayer resources.”
The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier riskmanagement are essential components to maintain stability during crises like these.
In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurementteam to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic. Risk & Performance Management.
Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. Analytics can help organisations to identify opportunities for cost savings, improved contract compliance and better procurement strategies.
In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurementteam to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic. Managing a Complex Network of Direct Material Suppliers.
The Oxford English Dictionary defines benchmarking as: Evaluating (something) by comparison with a standard. In procurement, benchmarking involves assessing supplier performance, costs, and processes against industry standards or competitors to ensure you are receiving the best value. The answer lies in benchmarking.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. 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?
In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Navistar had already been developing a supply chain riskmanagement program and were in the midst of executing digital transformation initiatives when the crisis hit.
KPIs are key performance indicators and are a way in which procurement professionals can understand and evaluate a supplier’s ability to meet their contractual obligations. The benefits of KPIs are vast and include the fact that it gives the procurementteam early indication of any potential issues.
A checklist guide to getting the most out of your supplier riskmanagement program. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. . The following are some of the most common objectives for implementing a supplier risk and performance management program. .
Currency and country exposure — Decreases financial risks by accurately tying projected spend to the correct currency to facilitate hedging strategies. Tools for business optimization and riskmanagement (including AI) — Improve business planning accuracy and decision making frameworks. Riskmanagement. Operations.
Michelin Group’s Hélène Vermont joined the discussion to share how applying these practices has propelled her procurementteam to emerge as a leader in sustainability a nd Corporate Social Responsibility. Supplier Performance Evaluation. ESG Objectives for Buyers. Reporting: Capturing Sustainability Efforts.
Some lessons regarding managing supply chain risk may still help in the near term as companies struggle to reconfigure their supply base to an evolving pandemic. First, category managers should look to investment professionals and take a broad portfolio view of supplier riskmanagement.
The sole source justification process is rigorous and requires approval from the organization’s procurement services, with steps including the completion and review of a justification form, internal review and approvals, and adherence to transparency and compliance regulations to managerisks effectively.
Public procurement is not just about ensuring a single contract; instead, it requires a long-term strategy to stay ahead of the competition. Success in this space requires more than just submitting bids; it demands strategy, consistency, riskmanagement, and a deep understanding of the ever-evolving rules.
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