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Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
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 risk management are essential components to maintain stability during crises like these.
A checklist guide to getting the most out of your supplier risk management program. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. . Objectives for Supplier Risk and Performance Management. Employ more structured processes around supplier risk management.
Ivalua Spend Management Insights [ivory-search] Lost in Public Space: Exploring the Unknown with the Norwegian Public Sector Segment May 9, 2023 | | Public Sector /by he I have spent most of my career in the private sector and started to get in contact with the space in recent years. Where to Start?
Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.
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.
What does Procurement mean? An organization’s Procurement function is responsible for managing spend, in other words the buying goods and services that are used to make the products sold to customers as well as the purchasing of products and services used to run the organization on a day to day basis.
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?
Most of the benefits that can be realized by manufacturing procurement organizations are gained through external collaboration with suppliers and partners – which ERP systems, internal portals, and Excel spreadsheets are not designed to handle. . Digitization Benefit #2: StrategicSourcing Alignment.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed by Philip Ideson from Art of Procurement to discuss the impact of the Covid-19 pandemic on Procurement. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures.
Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.
There are, however, already some clear lessons to be learned by Procurement and Supply Chain leaders. Others may still be applied to help businesses better manage the effects of the crisis. Balance Procurement Objectives. Spend under management is key. For proactively monitored contracts for risk, 94% vs. 16%.
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.
Ivalua Spend Management Insights [ivory-search] Source Wisely: Your Top 3 Public Procurement Software Essentials April 17, 2023 | | Public Sector by Jarrod McAdoo Today, state and local governments are tackling top priorities such as legacy modernization, cybersecurity, and cloud computing.
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. .
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. About 60 ProcurementManagers, Directors, and Executives attended from top medical device manufacturing companies. Avoiding change is a common issue across the manufacturing industry in general. Time is Money.
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. A core goal of Ivalua’s in 2021 is to help more leaders do so.
But beyond that, we’ve also worked together to support the success of public procurement professionals everywhere. Seeing that real-world impact keeps us motivated to continue supporting procurementteams for years to come. What happens is that procurement rises to be a value-add department within the agency. What’s next?
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