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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.
Vishal Patel and Peter Hunt delivered their session ‘Creating Value with StrategicSourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to category management and strategicsourcing. The answer is simple – automation.
If you happen to be a strategicsourcing professional within the manufacturing industry, you probably are experiencing many challenging days at the office. Just as important to one’s career is understanding which areas would be ideal to focus on if you truly wanted to make a big impact for your company.
It is an important part of the decision-making process and requires careful consideration of a wide range of factors, such as cost, quality, reliability, and delivery times. Developing and executing category strategies is critical to effective strategicsourcing.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building Supply Chain 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. Why is visibility so important?
One such organization was Navistar, a leading manufacturer of commercial trucks, busses and proprietary engines that recently participated in a series of CPO interviews conducted by Ivalua and Art of Procurement. Why is visibility so important? It’s really important to take this into consideration as part of your TCO calculations.”
It is also helping to bridge the supply chain management gap that has traditionally existed between healthcare providers and other industries such as manufacturing. Quite often there can be a general lack of spend and vendor management and strategicsourcing activities. Share on Twitter. Big Opportunity Ahead.
A frequent thought leadership contributor for the Ivalua Blog, Jarrod has worked across multiple industries, including higher education, public sector, retail, manufacturing, and engineered products.
The results were segmented to isolate perspectives for both manufacturing and services-based organizations, here we’ll focus on the later. . Interestingly, Services organizations actively monitor risk for strategic, direct, IT and onsite suppliers more frequently than manufacturing orgs. What is Third-party Risk Management? .
Scalability Scalability is another important consideration when choosing a procurement software solution. At Ivalua, we understand the importance of having a single source of truth for your data. Contact Sales The post Source Wisely: Your Top 3 Public Procurement Software Essentials appeared first on Ivalua.
As manufacturing executives continue to chart the future course of their companies, they often focus on reinventing the production line, improving the speed of innovation, evolving the skill sets of their labor force, achieving operational excellence, and so forth. Recognition and reward systems need to be tied in.
One such organization was Navistar, a leading manufacturer of commercial trucks, busses and proprietary engines that recently participated in a series of CPO interviews conducted by Ivalua and Art of Procurement. Why is visibility so important? It’s really important to take this into consideration as part of your TCO calculations.”
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. About 60 Procurement Managers, Directors, and Executives attended from top medical device manufacturing companies. The latter is of particular importance since second sourcing can often be very expensive in this sector.
Monitoring and measuring value is where the procurement organization takes a holistic view of the Source-to-pay process and supplier relationships. However, it is important to understand the differences and varying degrees of focus between direct and indirect spend in procurement and sourcing.
It is important for everyone to make a profit and if you make it impossible to do so, suppliers will find other customers—your competition. If it is important, measure it. He cautioned us that this was a slippery slope and “You will all need suppliers to save your butt one day, never forget that”. Tha-Tha-That’s all Folks!
During the Coalition’s Cybersecurity Symposium: The Cyberside Chat last week, Stacy Bostjanick, DoD’s Chief of Industrial Base Cybersecurity, emphasized the importance of CUI training. However, a recent report from the Government Accountability Office (GAO) highlighted the importance of improving data collection in these spaces.
This week, the Coalition, along with other industry associations, met with OMB and the Office of Federal Procurement Policy (OFPP) to discuss a number of important topics, including the BCI. The Coalition looks forward to continuing the dialogue with OMB and OFPP on this important initiative.
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