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Big data is more than a buzz term, and if you are a strategicsourcing professional, it is a concept that should not be ignored. But the useful gathering, presentation, and timely analysis of the data are keys to your success. Now let’s turn to why you, as a sourcing professional, should care more about big data.
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. The answer is simple – automation.
When businesses start sourcing local goods and services, they are presented with new opportunities to network and form strong bonds with local business owners. Developing and executing category strategies is critical to effective strategicsourcing.
These collaborative supplier partnerships present manufacturers with a number of opportunities to achieve greater product success. Engaging suppliers in strategicsourcing events and collaborative cost improvement efforts will ensure that purchased component costs are appropriate to achieve targeted gross margins.
Quite often there can be a general lack of spend and vendor management and strategicsourcing activities. Baylor, Scott & White (BSW) presents a great example of achieving digital transformation powered by supply chain. Make no mistake, there is a path to supply chain excellence and it is one well worth investing in.
Kicking off the day with our first keynote, Ivalua’s Founder and CEO David Khuat-Duy will present his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurement teams and suppliers. Director StrategicSourcing Digital & Functional Transformation, .
Pacific Drilling presents a unique opportunity to expand in the Americas given their industry and vision, and we plan to deploy a best-in-class program to transform their sourcing processes. We look forward to contributing to their Procurement cost optimization initiative”.
Redwood City, CA September 21 , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions , today announced that Asian Paints successfully deployed Ivalua’s Contract Management and Supplier Information solutions to enhance their strategicsourcing processes. About Ivalua .
Pacific Drilling presents a unique opportunity to expand in the Americas given their industry and vision, and we plan to deploy a best-in-class program to transform their sourcing processes. We look forward to contributing to their Procurement cost optimization initiative”.
Modernizing procurement systems can enable states to manage their data and engage in strategicsourcing and management programs, as well as ensure compliance with these programs. Updates are slow and present an overwhelming challenge to states looking to modernize and bring their legacy data forward.
But now with strategicsourcing and category management, the process has become much easier to track, monitor and control. Add sourcing workflow to the mix, and introduce machine learning that can link directly to the supplier and track savings, then you can start to see where the science comes in.
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. More on that here.
Sprint’s strategicsourcing transformation, presents a great example, in multiple ways. First, their approach digitized not just the sourcing process itself, but also requirements gathering from the business, providing transparency into the pipeline and prioritization across the company.
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. Each of their presentations was on-point and contained valuable insight by openly sharing best practices and candid conversations about their maturity journey.
The guidelines insist that attention and focus need to start from the top. The management body should ensure that sufficient resources are available to appropriately support and ensure the performance of those responsibilities, including overseeing all risks and managing the outsourcing arrangements …”.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave : Source-To-Contract Suites, Q4 2019. It covers spend analysis , sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
The total costs, in terms of human lives, disrupted supply chains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. And 91% of advanced organizations managed all spend via category management and strategicsourcing processes vs. 16% of beginners.
Mike Smith, a former director of strategicsourcing at DHS and now executive vice president at GovConRx, said with the successes of the DHS and other pilots, he hoped the FAR Council would take up this project and support CPARs reforms. But if everyone is rated satisfactory, then CPARs has little to no real value.”
To wrap up the mainstage sessions, Moshe Schwartz , President of Etherton and Associates (confirmed) will provide a presentation on the federal healthcare market. During the presentation, Schwartz will explore upcoming trends and shifts in federal healthcare procurement, identifying key policies and emerging opportunities for 2025.
From certain perspectives, the pandemic presents businesses a rare opportunity to accelerate on digital transformation initiatives that have been dragging over the last few years. Technologies such as strategicsourcing, procure-to-pay or full source-to-pay that are instrumental in managing spend must empower versus limit.
Army contracts: the Information Technology Enterprise Solutions 3 Services (ITES-3S) and the Responsive StrategicSourcing for Services (RS3). During the presentation, Schwartz will provide an update on recent healthcare legislation in the fiscal year (FY) 2025 National Defense Authorization Act (NDAA).
Billion in Obligations in Demand Forecast On November 6, the Defense Logistics Agency (DLA) held a meeting with industry associations, including the Coalition, to present its demand forecast. The presentation included information on DLA contract obligations in FY23 and previous years, and demand projections for FY24.
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