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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.
Procurementteams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Work to achieve 100% supply chain visibility. Why is visibility so important?
Procurement needs digitization at its core to enable automation, efficiency, and innovation within the supply chain. To foster inter-enterprise collaboration, best-in-class procurementteams are implementing cloud-based technologies that support workflow-enabled processes. Digitization Benefit #4: Enabling Innovation.
Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. Applications of Procurement Analytics Yet, procurement data analytics is not limited to just cost management.
Procurement can and should be a significant value generator for the larger organization. There are, in fact different phases of procurement value creation that tie into the Source-to-Pay process: . Click here to talk to Ivalua about your Procurement strategy. Both are essential to the success of every business.
We cannot wait to connect with procurement leaders, innovators, customers, and colleagues in our beautiful nation’s capital! . Today, we are stronger, more united, and more determined to lead and innovate together! Anthony Long, Vice President and Chief Procurement Officer and Mark Krause, Sr.
In that time, we’ve never stopped evolving to respond to the changing landscape of public procurement. Regardless of the curveballs we’ve been thrown over the years (yes, including a pandemic), our team and clients continue to evolve, innovate, and prove our value, again and again. Collaborating to find a way. What’s next?
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. Strategicsourcing professionals may end up doing tactical work, as well.
When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. 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?
For procurement and supply chain professionals, the biggest takeaway from 2020 is that no matter how hard you try, you cannot predict the future. COVID-19 disrupted supply chains on an unprecedented scale, and businesses became much more reliant on procurementteams to help mitigate the impact. .
As organizations look beyond the panic and shocks created by Covid-19, procurement leaders must show that they can contribute to restoring growth and supporting a broader list of objectives. The reality is that too few procurementteams have experience here. It’s all possible and innovators are already delivering.
This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. . In order that sourcing and procurementteams fully optimize their supplier network, there needs to be a change in the way organizations view all suppliers. People and Organization.
During the webinar, Ardent Partners highlighted a series of market trends and predictive scenarios for 2022, focusing on massive challenges brought on by the global pandemic that procurement organizations are facing today and present a thoughtful discourse on the road ahead. 5 Procurement Increasing Its Focus on and Use of Data.
It also increased the efficiency and speed to market for all sourcing users, while providing visibility and ability for procurement professionals in the center-led procurementteam to provide strategic support.
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