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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. This magnifies drastically when you multiply across all of sourcing, as well as suppliers, engineers, and managers. Think about all the emails you send, quotes you submit, analyses you save.
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.
Product manufacturers have become increasingly dependent on their strategicsuppliers to create a competitive advantage in the market. These collaborative supplier partnerships present manufacturers with a number of opportunities to achieve greater product success.
However, implementing category strategies for successful sourcing and supplier management can be challenging without the right tools. When businesses start sourcing local goods and services, they are presented with new opportunities to network and form strong bonds with local business owners.
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.
Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. This deployment is another significant step forward in the digital transformation of their overall supply chain processes, a journey that started last year with the successful rollout of Ivalua Sourcing solution for direct materials. .
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. The Criticality of the Supply Chain (and Suppliers).
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.
Why did these outsiders want to know about our key strategicsuppliers? . There is also a discussion of what the guidance calls “concentration risk” – the danger of having too many critical functions delivered by one supplier, meaning that if it fails, there would be serious problems for the customer organisation. .
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”. Realize the possibilities at www.ivalua.com.
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.
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.
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 city of New York adjusting normally cumbersome processes to secure new sources of supply for unprecedented numbers of ventilators. Dankse Bank accelerated supplier payments to help small businesses stay liquid. Sprint’s strategicsourcing transformation, presents a great example, in multiple ways.
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 to maximize the impact of these and other objectives, Procurement needs to be managing all spend and all suppliers.
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”. Realize the possibilities at www.ivalua.com.
This additional level of requirement provides a perfect opportunity to leverage the capabilities of technology to communicate and centralize spend and supplier information state-wide. 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.
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. Overall, Procurement organisations can influence entire ecosystems of suppliers to develop with this balance in mind. Building Resilience.
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