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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.
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. There are many supplychainmanagement lessons to learn from the Covid-19 crisis.
Bindi Patel, a more than two-decade consulting industry veteran, has been appointed vice president of contracts and procurement and corporate risk officer at Springfield, Virginia-based defense and space manufacturing company Ensco.
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.
Ivalua, a global leader in spend management, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychainriskmanagement thanks to Ivalua’s Source-to-Contract (S2C) solution. Markus Leutert.
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychainmanagement and procurement sit poised on the frontlines of managing global supplyrisks for their brands. Understanding Supplier RiskManagement.
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.
The onset of the coronavirus epidemic has accelerated the supplychain digital transformation that has languished on businesses’ “to-do” list for years. Chaos from the coronavirus has made clear that procurement & supplychain practices need to get smarter. Supplychains have been badly disrupted.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
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. It may be the most basic level, but data management may also be the most daunting for some organizations.
Supplier failure and supply shortages are the biggest risks, yet many businesses are unprepared to mitigate these events in the future. The most common threats organisations faced include supplier failure (48%), supply shortage (46%) and environmental impact, such as pollution or waste (33%). About the study.
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. I think the government and industry are asking that question now.
New products and capabilities are coming to market like AI and machine learning, and we also have new risks that are emerging. So supplychainriskmanagement and elimination becomes a very important discipline. We also have global events that are causing disruptions to the supplychain.
In the world of supplier management, the risk register is becoming a prominent and high profile tool for manufacturers. First, determine the specific decisions and actions the risk register will have the biggest impact on, such as: Awarding, expanding, and reducing the amount of business with a particular supplier.
Leading manufacturers have proven that best-in-class strategic sourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability. In last week’s blog , I began discussing telltale signs that you have entered the new age of strategic sourcing.
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.
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.
CTA April 28, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. FCL is a wholesaling, manufacturing, marketing and administrative cooperative that has been recognized by a wide variety of awards. According to SupplyChain Now’s Greg White, the cracks have been exposed and there is nowhere to hide.
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.
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.
Prioritize as a key contract consideration the handling of data, including procedures for data management, accountability, and access. Include cost estimates for post-award oversight, riskmanagement, maintenance, and corrective action in budgeting for procurements. James Peake , M.D., James Peake , M.D.,
Which got me to thinking… If you are a manufacturer, what supplier management practices might you eliminate if you had a clean slate? If something goes wrong with this supplier and you can’t find an alternative supplier quickly, you have a weak spot in your supplychain.
Qualifying checks establish an understanding of the supplier’s business continuity planning and evaluates things like riskmanagement policy, financial viability, quality controls, cloud security and performance tracking across your supplychain. Relocate a current manufacturing site. Performance measurements.
Non-compliance with DFARS can result in serious ramifications for defense contractors, including contract issues, legal action, financial penalties, and reputational damage, emphasizing the importance of leveraging expert guidance and ensuring compliance across the supplychain.
During the training, Jason, Liam, and Alex will cover the following topics and more: Pricing – Transactional Data Reporting (TDR)/Commercial Sales Practices (CSP); Domestic Preferences; SupplyChain; Enforcement/Mandatory Disclosure/Ethics; Sustainability Requirements/Policy; and Bid Protests Update. James Peake , M.D.,
Beyond this enormous human toll, the Coronavirus and the efforts to control the spread of the virus is being felt throughout the world’s supplychain. This will impact manufacturers and retailers who rely on these products and labor, the logistics haulers expecting to transport the material, and ultimately the end consumers. .
Contractors should also be aware of the following opportunities that the Government is considering to reduce plastics in the Federal supplychain: The fact sheet touts past Federal accomplishments, including the FSS Single Use Plastics Final Rule that the Coalition commented on in February. Reporting should begin by September 1, 2025.
The RFI included 13 questions on infrastructure/supplychain resilience, workforce, innovation, acquisition, policy, and regulatory environment. The AISI will create evaluation tools, test AI models and safeguards, issue guidance on AI safety and riskmanagement, and conduct technical research. manufacturers.
Riskmanagement, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. Strategic Investments Target Risk Reduction. Striking the Balance between People, Process and Technology.
The priority areas are: Asset Management Vulnerability Management Defensible Architecture Cyber SupplyChainRiskManagement (C-SCRM) Incident Detection & Response Each priority area includes further alignment goals to address these variations. GAO sustained the protest. [1]
The appellant maintained that the solicitation should have a manufacturing NAICS code with an employee-based size standard. The contractor would provide a software subscription from the large business manufacturer, which would provide updates and support. 5] [1] 13 CFR 126.609. [2] 2] Competitive Innovations LLC, B-422500, Jun.
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!
GSA identified that small businesses could not participate because they did not have the required letter of supply from Original Equipment Manufacturers (OEMs). To facilitate discussion, please provide questions or topics you would like addressed at the meeting to Joseph Snyderwine at JSnyderwine@thecgp.org. To register, click here.
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.
A sole source situation exists when specific criteria are met, emphasizing the need for thorough verification of the exclusivity of the source, especially in cases involving ‘sole brand’ or ‘sole manufacturer’ items that may have multiple distributors. This indicates the presence of competitive market alternatives.
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.
GSA Requesting Feedback on Draft SupplyChainRiskManagement Questionnaire The General Services Administration’s (GSA) Office of Information Technology Category has developed a supplier assurance questionnaire to gather information regarding cybersecurity supplychainriskmanagement (C-SCRM).
. ** Strengthen Software SupplyChain Security WHAT’S AT STAKE Whether developed in-house or procured from the commercial market, every major application includes countless open source and commercial software components.
The AISIC will develop guidelines for “red-teaming, capability evaluations, riskmanagement, safety and security, and watermarking synthetic content,” and will be housed within the U.S. AI Safety Institute. DRAFT AGENDA Introduction CBP Country of Origin Ruling on Printers Assembled in Mexico, for more info click here.
Aimed primarily at imports from key trading partners, these tariffs are set to significantly affect a wide array of goods, directly highlighting the impact of US tariffs on UK supplychains. For procurement professionals, this development presents new challenges in cost management, supplier relationships, and regulatory compliance.
The year ended with ambitious statements by the governing Liberal Party on proposed legislation to eradicate forced and child labour in Canadian supplychains. This will allow reporting entities to align and streamline public statements regarding supplychain compliance efforts across jurisdictions.
FAR & Beyond: Coalition Testimony on Safeguarding the Federal Software SupplyChain 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 April analysis also prompted the Food and Drug Administration to provide pre-market cyber guidance for device manufacturers and promulgate new medical device requirements. million or $7 million for orders with a manufacturing NAICS code).
As CISA has noted , [an SBOM] has emerged as a key building block in software security and software supplychainriskmanagement. SBOMs are defined by CISA as a formal record containing the details and supplychain relationships of various components used in building software.
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