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Speed, Collaboration and Innovation – Key Words for the New Procurement Decade

ivalua

For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market. That requires extraordinary work internally and co-ordination with key suppliers. The related objective for that firm is that no less than 70% of those new products should come from supplier-generated ideas. .

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Top strategies for procurement to help support revenue growth

ivalua

With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurement teams to prioritise supplier innovation and revenue growth opportunities. . Unlocking supplier-led innovation. Supplier-led innovation is hardly a new concept.

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3 Ways Procurement Can Help Grow Revenues (Part 2)

ivalua

Unlocking Supplier-Led Innovation. Supplier-led innovation can help increase margins, accelerate time to market and differentiate products/services to capture market share. Even in indirect purchasing, giving suppliers more flexibility in how they meet requirements can increase savings and sustainability.

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The Top CPO Metrics Used to Measure Inflation, Risk, and Uncertainty

ivalua

Aside from mitigating risk and saving organizations money, Procurement teams have an opportunity to add value by working closely with suppliers to reduce carbon emissions while ensuring supply chain continuity through diversity and proper forecasting. Ardent found that many didn’t even know how many suppliers are high risk.

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Collaborate to Win

ivalua

The need for Procurement to improve collaboration with suppliers, and other stakeholders, has gained broad acceptance in recent years. As supply chains were disrupted, those organizations that had the closest relationships with suppliers were most likely to gain preferred access to keep goods flowing, and effectively forecast.

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4 Ways Modern Software will Empower Digital Procurement

ivalua

These include faster co-innovation with suppliers, working with sustainable and ethical suppliers and empowering employees — all of which will lead to increased business agility. . Other examples include excessive price variances, duplicate invoices or superfluous approvals. 3) Optimize Decision-Making.

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Supply Chain Innovation + Automation: How Körber is Positioning Procurement for the Future

ivalua

At our annual Ivalua NOW event in Paris, France–Ivalua asked, “Is your procurement team prepared to respond to unexpected supplier chain issues with speed and agility?”. A core element to successful supplier management and designing a supplier portfolio is collaboration. Key Takeaways.