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For procurement organizations, the German Supply Chain Act presents both challenges and opportunities. The new set of regulations add an additional layer of compliance and riskmanagement to the procurement process. Further, it is essential that supplier management and data is holistic (i.e.,
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.
Watch our Webinar Replay to find out more about the GAPS identified by PwC and some practical tips on how Procurement can take advantage of and help support changing C-level priorities. . CEOs Look to Innovation. The Digital Procurement Survey results established that Procurement’s priorities have shifted due in a post-COVID-19 world.
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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.
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.
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. . Employ more structured processes around supplier riskmanagement. Drive competition and achieve savings.
The platform will deliver a range of benefits to JFC, including improved governance and auditability, more efficient procurement processes, more informed analysis and decision-making, proactive riskmanagement, improved supplier qualification and collaboration and better compliance with contracts and policies.
Procurement professionals need to think in more innovative ways about how we can drive competitive advantage and shareholder value for our organisations. While profit is of course important, and the procurement goal of cost reduction plays a key role here, “you cannot cut your way to growth” (or ultimate success), as the saying goes.
The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management. This includes supplier information management, supply chain riskmanagement/mitigation, and supplier performance management. Healthcare.
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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. Additionally, after proper risk assessments, we can then set up remediation projects to tackle these areas and address the risks.
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