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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.
The majority of organizations consider supplychaintransparency to be a top priority, however less than a third are satisfied with the level of visibility into their suppliers. Most organizations continue to suffer from severely limited visibility in the lower levels of their supplychains.
Public procurement will either propel us toward the digital future Gates describes or hold us back with outdated processes and institutional inertia. To succeed, governments must embrace innovation, integrate cutting-edge tools like artificial intelligence (AI) and blockchain, and empower procurementteams to lead the way.
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. As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react.
From this discussion, we compiled a list of 8 critical supplychain management 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.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?
As the COVID-19 pandemic disrupts global supplychains, procurement organizations around the world are scrambling to react. There are many supplychain management lessons to learn from the Covid-19 crisis. Transparency, or ability to scale data, across an organization.
The business case for data-driven transparency is not hard to make. In today’s dynamic, complex market, where procurement’s objectives continue to grow, data is the fuel for success. By taking steps now to improve supplychain visibility, procurementteams can position their organizations for success in the years to come.
Nearly a third (32%) of procurementteams concede to cutting corn ers with their sourcing criteria for suppliers to secure supply. 81% of procurementteams feel pressured by executive teams to respond more quickly and effectively to challenges such as inflation, disruptions, and shortages.
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Importantly, the study demonstrates why more needs to be done across the supplychain to assess and measure green credentials regularly. Measure suppliers on carbon emissions. Taking action today.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supplychain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. It focuses on how public sector entities can enhance compliance and transparency. What is Data Analytics in Procurement?
In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. ProcurementTeams Step-up. When Covid-19 hit, supplychains across the globe nearly came to a halt.
The increase is directly correlated to the turbulent market caused by the pandemic, supplychain disruptions, and rapid inflation. When it comes to supply continuity, being proactive about mitigating disruptions is essential, yet many procurement organizations may still lack sufficient resources. Risk Metrics.
CTA April 28, 2023 | | SupplyChain by Vishal Patel Cost, Risk, and Sustainability. A recent webinar hosted by SupplyChain Now, “Balancing Cost, Risk and Sustainability in the Midst of Uncertainty, ” took an in-depth look on what it takes to transform Procurement into a highly efficient function that supports these key initiatives.
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.
Through our sponsored Forrester research and experience working with hundreds of the world’s most admired brands, we have established several key strategies to create a more resilient supplychain: 1. The success of any transparency strategy relies heavily on building a solid data foundation, particularly when it comes to suppliers.
Businesses must start looking to the supplychain to ensure this renewed focus on transparency and accountability. Importantly, the study demonstrates why more needs to be done across the supplychain to assess and measure green credentials regularly. Measure suppliers on carbon emissions. Taking action today.
The initial focus is on digitising the Procure-to-Order process with subsequent phases planned for invoicing and sourcing. Aegion’s procurementteam planned a multi-phase transformation to deliver efficiency and transparency, while ensuring savings flow to the bottom line. About Aegion Corporation.
The partnership with TransferMate removes this friction, creating a transparent, rapid and low-cost solution to paying suppliers anywhere in the world. in 2022*, the financial friction that arises from such transactions weakens links in the supplychain. With global trade volumes expected to grow by 4.7%
Enable Transparency. Two of the top five challenges and strategies in this study involve transparency. During the COVID-19 pandemic, procurementteams rose to the challenge for the benefit of their organizations and society. To tackle climate change and other ESG-related challenges, we need procurement to rise up again.
While I was at the Ivalua NOW event in Paris, I interviewed Cyrille Naux, Purchasing and SupplyChain Vice-President at Chassis Brakes International, a multinational manufacturer of automotive brakes and brake components.
Additionally, this lack of diversity in supplychains can lead to overreliance on a few select suppliers. Key Findings from the National Audit Office Report The NAO report offers a detailed analysis of the current state of competition in public procurement, highlighting several key areas of concern.
Inclusive Opportunities: Public procurement can be a tool to promote equality, diversity, and inclusion by prioritising contracts with suppliers committed to these ideals. Why Does Social Value Matter In Public Procurement? Governance Strong governance is critical to ensure social value objectives are met effectively.
Redwood City, CA – November 7, 2019 – Ivalua, a global leader in spend management , today announced a range of new innovations that enable direct material procurement and supplychain leaders to launch more profitable, successful products. The new capabilities are available now as part of Ivalua’s latest platform release.
In order that sourcing and procurementteams fully optimize their supplier network, there needs to be a change in the way organizations view all suppliers. Improve visibility across all levels of the supplychain. Assess and mitigate risk across the supplychain. Drive competition and achieve savings.
The past few years have been a boon for procurement, which has become increasingly strategic and critical to business. The pandemic has accelerated this trend, with the Procurement function front and center in the fight to ensure supplychain resilience and continuity, reduce costs and protect the bottom line.
The partnership with Transfermate removes this friction, creating a transparent, rapid and low-cost solution to paying suppliers anywhere in the world. in 2022*, the financial friction that arises from such transactions weakens links in the supplychain. With global trade volumes expected to grow by 4.7%
Next on stage, we welcomed Booking.com with a thought-provoking, transparent, powerful, and honest account of how to run a successful and ongoing Source-to-Pay transformation. . They discussed new strategies and best practices to maximize and sustain supplychain agility and resilience in our last breakout session of the day!
As organizations look beyond the panic and shocks created by Covid-19, procurement leaders must show that they can contribute to restoring growth and supporting a broader list of objectives. The reality is that too few procurementteams have experience here. A core goal of Ivalua’s in 2021 is to help more leaders do so.
Ivalua Spend Management Insights [ivory-search] Navigating CSRD Regulation: What Procurement, SupplyChain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
The global supplychain is undergoing an incredible transformation that will change the way we do business. Today, organizations are looking to build supplychain resilience and maximize opportunities for growth as we pivot and prepare for unexpected global events. . Körber at a Glance…. Körber at a Glance….
The sole source justification process is rigorous and requires approval from the organization’s procurement services, with steps including the completion and review of a justification form, internal review and approvals, and adherence to transparency and compliance regulations to manage risks effectively.
It is all a part of supplychain management, making sure the right products and services get to the right place at the right time. Key Principles Of Public ProcurementTransparency: Clear and Open Processes Public contracts aren’t handed out in secret.
Imagine a competent procurement officer surrounded by a myriad of daunting problems, including legislative procurement compliance solutions, inefficiency, and even the risk of fraudulent activity. This article will focus on tackling challenges in the public procurement process and suggests practical solutions for these challenges.
Keep your procurementteam informed and compliant. Ethical Procurement Public sector buyers want fairness, transparency, and responsible sourcing. Treat your supplychain partners and subcontractors fairly and align with the National Procurement Policy Statement. Youll need rock-solid security.
Her commitment to balanced and thoughtful acquisition policy has set a standard for integrity and innovation in Federal procurement, and her transparent approach has fostered trust and collaboration among industry partners and stakeholders. Federal agencies that provides transparency into how Federal agencies are using AI.
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