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In todays complex procurement landscape, creating comprehensive and accurate statements of work scopes can present a challenge for university procurementteams. Without standardized tools, this process creates additional workload burden and potential delays in the procurement process.
At our annual Ivalua NOW event in Paris, France–Ivalua asked, “Is your procurementteam prepared to respond to unexpected supplier chain issues with speed and agility?”. For Körber, investing in procurement technology solutions frees up time to allow for more work on more strategic activities. Key Takeaways.
Aside from mitigating risk and saving organizations money, Procurementteams 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.
With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurementteams to prioritise supplier innovation and revenue growth opportunities. . Procurement’s role and status have been on an upward trajectory for many years, accelerating during the Covid-19 crisis.
“The Procurement function needs to move its focus from its traditional emphasis on cost to the things that really matter to customers,” he said. 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. .
Leader Forrester Supplier Value Management Platforms, Q1 2022. Ivalua remains the only vendor recognized as a leader in every current Procurement report spanning S2P by Gartner and Forrester. The group covered localizing suppliers, right shoring, ESG, and managing risk. NEW Payments Solution. 750 plus employees.
That’s a great example of how Procurement solution providers are supporting Procurementteams to be faster and more effective, without sacrificing robust capabilities or the flexibility to grow over time. . Our users and indeed our own teams also want speed in terms of rapid access to data and information.
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