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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 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.
Like every industry Procurement & SupplyChain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. Do you remember the days when we used to attend these things called “conferences”? Crazy, wasn’t it! .
diplomats abroad, according to the department’s Cybersecurity-SupplyChainRiskManagement and Emerging Technologies Working Group lead. The State Department is developing countermeasures to prevent foreign adversaries from exploiting 5G or future 6G networks and the Internet of Things to target U.S.
For 40 years and counting, LMI has been at the forefront of innovating solutions for the healthcare, artificial intelligence, supplychainmanagement, disaster and pandemic riskmanagement, space innovation, and science and technology sectors.
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. Assessing Risk across the SupplyChain.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react.
The post Proposed Patent Rule Changes and their Impact on Innovation w/ Wen Xie appeared first on Art of Procurement. As someone who has never specialized in a patent-intensive space, I would have thought that patents were just about a.
The Coalition for Government Procurement was invited to testify before the House Committee on Oversight and Accountability’s Subcommittee on Cybersecurity, Information Technology, and Government Innovation on November 29. The subject of the hearing was “Safeguarding the Federal Software SupplyChain.”
From this discussion, we compiled a list of 8 critical supplychainmanagement 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.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychainmanagement activities that can help Procurement teams build and maintain supplychain resilience now and in the years to come.
P rocurement, a critical component of supplychainmanagement, is transforming, driven by the expertise of certified procurement professionals. The impact of such training is significant, leading to more streamlined procurement processes and better decision-making in supplychainmanagement.
Use procurement software or work with a GPO like OMNIA Partners that offers advanced analytics tools to track spend, identify trends, and optimize your supplychain. Using a cooperative purchasing program ensures compliance with state and federal laws while reducing the risks associated with supplier management.
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychainmanagement lessons to learn from the Covid-19 crisis. These challenges in the direct material supplychain pose a real threat, especially in a time of crisis.
Redwood City, CA – November 12, 2019 – Ivalua, a global leader in spend management , today announced the release of an enhanced third-party risk module, called Risk Center, available as part of its latest product release. in the most recent The Forrester Wave : Supplier Risk And Performance Management (SRPM) Platforms, Q1 2018.
Former federal executives and industry experts said it may be time to rethink the IT value added reseller (ITVAR) approach as the FBI and DCIS raid shined a brighter light on supplychainrisks that most vendors and agencies generally glossed over until now. They do a great service and provide innovation.”
We remain committed to this mission at the upcoming Spring Training Conference, ensuring that attendees leave with comprehensive updates on acquisition policies, programs, and initiatives in subjects like artificial intelligence (AI), cybersecurity, the medical supplychain, and much more. We look forward to seeing you in May!
He has earned a master’s degree in Information Management at Syracuse University with advanced study in Information Security Management, a CIO Certificate from CIO University, and a master’s degree in National Resourcing and Strategy with a concentration in Global SupplyChain and Logistics from Eisenhower College, National Defense University.
However, there’s a certain amount of competition that is good that does allow agencies to continue to focus on innovation, continue to focus on delivering the right products, service mix. New products and capabilities are coming to market like AI and machine learning, and we also have new risks that are emerging.
Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and riskmanagement. Also, proper data analysis can help find potential hazards in the supplychain, sustain continuity, and reduce disruptions.
Originally published on RiskManagement Monitor. 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. Ivalua Supplier Risk and Performance Management Checklist.
Harwood, and Ashley Powers; Miller & Chevalier Chartered The Office of Management and Budget (OMB) released a new memorandum at the beginning of October, “Advancing the Responsible Acquisition of Artificial Intelligence in Government” ( M-24-18 ) (the Memo), intended to help “agencies harness the power of AI.”
Close Director of Security Operations, Department of Labor Nick Vinson × Nick Vinson Senior Director, Product Security Nick Vinson is a cybersecurity leader and innovator, currently leading the Product Security function at Snyk. Bishop recently joined the Department of the Air Force to drive cybersecurity innovation.
CTA April 28, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. Gaps and dysfunction in the supplychains and a lack of visibility are making it difficult to support Environment, Social, and Governance (ESG) initiatives. Those are three hot topics in the enterprise today.
Ivalua Spend Management Insights [ivory-search] A Balancing Act: Drive Sustainability while Managing Cost and Risk April 27, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. According to SupplyChain Now’s Greg White, the cracks have been exposed and there is nowhere to hide.
Unlocking Supplier-Led Innovation. Supplier-led innovation can help increase margins, accelerate time to market and differentiate products/services to capture market share. Ensuring SupplyChain Agility. For example, supplychains may have to be adjusted to support new company sustainability or other CSR policies.
CEOs Look to Innovation. Not surprisingly, riskmanagement and cost reduction are considered the most important priorities for Procurement professionals (see image 1). . Not surprisingly, riskmanagement and cost reduction are considered the most important priorities for Procurement professionals (see image 1). .
North Carolina State Poole College of Management recently produced this 28 page report entitled “ 2019 SupplyChain Data Quality and Governance Study ”. The report contains some great illustrations of the current state of Data governance across the organizations that were surveyed, with a specific focus on the supplychain.
Further, suppliers play a pivotal role in innovation, ESG, riskmanagement, quality, supply continuity, and many other critical organizational functions. Ivalua is honored to be recognized in this important evaluation covering a broad range of Procurement and SupplyChain processes.
This TDR expansion is another positive step forward for GSA as it seeks to modernize the program by creating a market-centric framework that enhances competition, value, and innovation. GSA also consistently pointed to TDR data management as an effective tool in addressing security issues, including supplychainriskmanagement.
The Memo is organized around three strategic goals: managing AI risk and performance, promoting a competitive AI market with innovative acquisition, and ensuring collaboration across the federal government. James Peake , M.D., James Peake , M.D., We discuss the first two goals below.
Supplier collaboration goes well beyond the sharing of product design documents, extending into initiatives involving product innovation, supplychain visibility, compliance, target cost programs, demand and capacity planning, and riskmanagement.
In doing so, they have improved supplier collaboration and created a greater capacity for resilience, innovation, and continuous improvement. . How do these organizations build their supplier management programs? Manage and mitigate the inherent risk of supplier relationships. innovation) with supplier capabilities .
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.
For those of you who are executives in SupplyChain, Procurement or New Product Introduction/Development, this is a must read. Challenges in this new manufacturer/supplier partnership Burton cites include: Riskmanagement. Globalization. Burton predicts that China and Brazil will become hubs for global sourcing.
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, supplychainriskmanagement/mitigation, and supplier performance management.
But few remember the stress the 2011 event placed on global supplychains. . The interdependence of the global supplychain guaranteed the effects would extend far beyond the Japanese economy. . Thankfully, by 2011 the global supplychain had an arsenal of weapons to help combat the economic aftershocks of the disaster.
Swimming against the tide, and seeking to diverge from the EU’s regulatory agenda and the EU AI Act , the UK announced a light-touch ‘pro-innovation approach’ in its July 2022 AI regulation policy paper. The ‘pro-innovation approach’ in the GCSA Report — squaring the circle?
The data challenge and opportunities Whether it’s a new innovative medicine which follows a journey from lab to patient or a generic or medical product which goes from a pharmaceutical manufacturing facility to a patient, ensuring faster discovery, delivery, and availability of medicines is both critical and challenging.
A host of recent studies have identified the shrinking industrial base serving the federal government and the corresponding impact on competition, innovation, and costs. Supplychainriskmanagement and domestic sourcing. Small business opportunities.
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. Contact us to learn more and enrol today!
Who better to bring balance, build resilience and solidify competitive advantages than Procurement and SupplyChain. For Procurement and SupplyChain leaders, while this is very likely not a foreign concept, it is likely that they have not had the opportunity to fully execute on a strategy to be more resilient to external events.
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