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Strategic procurement is more than just buying goods and services—it’s about creating value, optimizing resources, and aligning purchasing decisions with organizational goals. In this blog, we’ll explore key best practices and show how leveraging group/cooperative purchasing can help you master the art of strategic sourcing.
Exiger has won a position on a potential 10-year, $919 million blanket purchase agreement awarded by the General Services Administration to facilitate the acquisition of supplychainrisk illumination tools and analytic support services.
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.
Best-in-Class for Healthcare SupplyChainManagement? Are ERP systems better than best-in-class supplychain solutions for managing healthcare supplychains? That’s the question we set out to answer in our recent panel discussion with Procurement and SupplyChain experts.
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychainmanagement and procurement sit poised on the frontlines of managing global supplyrisks for their brands. Understanding Supplier RiskManagement.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
P rocurement, a critical component of supplychainmanagement, is transforming, driven by the expertise of certified procurement professionals. The impact of such training is significant, leading to more streamlined procurement processes and better decision-making in supplychainmanagement.
“Ivalua’s Risk Center brings actionable data and insights from across the supplier lifecycle together with complimentary external data so our customers can effectively manage supplier risk. The global supplychain is a breeding ground for hidden sustainability and CSR risks.
SupplyChain Due Diligence (“SCDD”) laws, such as the German Lieferkettensorgfaltsgesetz , the recently approved EU Corporate Sustainability Due Diligence Directive , or the U.S. As an advocate for such laws, I recognise the urgent need to make supplychains fairer and more ethical.
We remain committed to this mission at the upcoming Spring Training Conference, ensuring that attendees leave with comprehensive updates on acquisition policies, programs, and initiatives in subjects like artificial intelligence (AI), cybersecurity, the medical supplychain, and much more. We look forward to seeing you in May!
With employees increasingly expecting the purchase order process to be as simple as consumer-shopping, it is not just a matter of their productivity but also satisfaction. Procure-to-Pay Software mitigates financial risk. Cash management has quickly risen up the (increasingly long) totem pole of Procurement priorities.
Even in indirect purchasing, giving suppliers more flexibility in how they meet requirements can increase savings and sustainability. Efficient communication, the ability to securely share information and project manage efforts are all key to scaling collaboration across more processes, suppliers & categories.
The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management. This includes supplier information management, supplychainriskmanagement/mitigation, and supplier performance management.
Data-driven decision-making enables procurement teams to improve performance and align with wider organisational goals including corporate social responsibility and riskmanagement. Also, proper data analysis can help find potential hazards in the supplychain, sustain continuity, and reduce disruptions.
Just because the purchase order is placed with the supplier , our work as procurement professionals is not done. At this stage of the procurement cycle (stage 10), our work should be focusing on the management of the contract to ensure that the supplier is delivering as per our expectations. What makes KPIs so vital to Procurement?
He had taken on a few leadership roles in Flex such as Procurement Compliance Director, led the Global Sourcing team, and is currently member of Flex SupplyChain Council and SupplyChainRiskManagement. How to manage spend across a decentralised, non industrial, multi-business unit environment.
First, let’s define Supplier Management aka Supplier Relationship Management (SRM) , Supplier Lifecycle Management (SLM), Supplier Risk, and Performance Management (SRPM ). Supplier Management is not limited to the transactional nature of a business relationship (purchase orders, catalog items, invoices, etc. )
Harwood, and Ashley Powers; Miller & Chevalier Chartered The Office of Management and Budget (OMB) released a new memorandum at the beginning of October, “Advancing the Responsible Acquisition of Artificial Intelligence in Government” ( M-24-18 ) (the Memo), intended to help “agencies harness the power of AI.”
The most recent guidance is one more step towards using that purchasing power to direct industry practice towards increased security, responsibility, and interoperability. Prioritize as a key contract consideration the handling of data, including procedures for data management, accountability, and access. James Peake , M.D.,
Recognizing that a significant amount of plastic waste comes from “one and done” packaging, the General Services Administration (GSA), among the largest government buyers purchasing a diverse set of products, sought information in connection with an anticipated rule on single-use packaging in products on the MAS.
Recognizing that a significant amount of plastic waste comes from “one and done” packaging, the General Services Administration (GSA), among the largest government buyers purchasing a diverse set of products, sought information in connection with an anticipated rule on single-use packaging in products on the MAS.
For most procurement (and supplychain) professionals, the topic of Scope 1, 2, and 3 emissions should be coming at you from every direction. Understanding, managing, and reducing Scope 3 emissions is an essential part of any reduction objective or net-zero goal established by corporate boards and executives.
For most procurement (and supplychain) professionals, the topic of Scope 1, 2, and 3 emissions should be coming at you from every direction. Understanding, managing, and reducing Scope 3 emissions is an essential part of any reduction objective or net-zero goal established by corporate boards and executives.
Qualifying checks establish an understanding of the supplier’s business continuity planning and evaluates things like riskmanagement policy, financial viability, quality controls, cloud security and performance tracking across your supplychain. Downstream activities include: Project planning. Contract execution.
These credit cards issued by banks provide quick payments and improved automation – plus there’s the potential of rewards with each purchase! What is a Purchase Card (P-card)? A Purchase Card or P-Card represents the physical plastic cards associated with a user.
As we move forward into the new fiscal year, the Office of Management and Budget (OMB) continues to emphasize cybersecurity priorities for civilian agencies to consider when developing FY24 and FY25 budget requests. Stay up to date We are available to agencies throughout the entire acquisition lifecycle.
Buyers are expected to scrutinize every aspect of the purchasing process to identify ways to reduce their carbon footprint, source sustainable materials, and promote diversity. The amount of data associated with these initiatives can be exponential, a burden too heavy to manage manually.
Williams, and Mickey Liebner; Mayer Brown Bipartisan, bicameral legislation in the US Congress would mandate the use of the National Institute of Standards and Technology’s (“NIST”) Artificial Intelligence RiskManagement Framework (“Framework”) by federal agencies. Cloud Working Group Meeting on GSA’s ASCEND BPA, Feb.
Williams, and Mickey Liebner; Mayer Brown Bipartisan, bicameral legislation in the US Congress would mandate the use of the National Institute of Standards and Technology’s (“NIST”) Artificial Intelligence RiskManagement Framework (“Framework”) by federal agencies. Cloud Working Group Meeting on GSA’s ASCEND BPA, Feb.
These efforts send a strong signal to companies interested in the federal contracting space: For those hoping to tap into the $700 billion market, cyber supplychainriskmanagement (C-SCRM) must be a priority. The key is to start by making the effort and investments necessary to secure your cyber supplychain.
CISA Releases Software Security Guide Federal News Network reports that the Cybersecurity and Infrastructure Security Agency (CISA) released a new guide on August 1 for Federal acquisition personnel that outlines how agencies can “better evaluate the security of the software they purchase.”
Riskmanagement, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. How do these priorities impact the digital roadmap and future investments? Will digitization improve performance?
The blog post covers the following benefits of TDR that have resulted from the current pilot: Support for Small Businesses: GSA used transactional data to analyze which high-demand items customers were purchasing and found that certain items were only being provided by large business resellers. See the article above for more details.
This case was distinguishable from other OHA size appeal decisions, where a price had not been agreed upon or where a potential purchase was conditioned on the seller reaching financial targets.
We remain committed to this mission at the upcoming Spring Training Conference, ensuring that attendees leave with comprehensive updates on acquisition policies, programs, and initiatives in subjects like artificial intelligence (AI), cybersecurity, the medical supplychain, and much more. We look forward to seeing you in May!
The priority areas are: Asset Management Vulnerability Management Defensible Architecture Cyber SupplyChainRiskManagement (C-SCRM) Incident Detection & Response Each priority area includes further alignment goals to address these variations.
Small business, category management Harada said a key piece to the Better Contracting Initiative is continuing the evolution of category management. Part of that effort means improving the management of software purchasing.
GSA repeatedly hears customers say that they want and need an acquisition vehicle that addresses cloud-specific technologies and requirements, offers a less complicated way to buy them, and provides standardized security and data management features.
A sole source purchase is justified when unique attributes or circumstances dictate that only one provider is capable of supplying the desired goods or services. State-funded sole sources must be posted by public notice for a specific duration on designated websites before proceeding with the purchase.
At the most basic level, because generative AI tools are software, acquiring them must follow the same acquisition policies and rules as other IT and software purchases. At the same time, generative AI tools are unique.
GSA Requesting Feedback on Draft SupplyChainRiskManagement Questionnaire The General Services Administration’s (GSA) Office of Information Technology Category has developed a supplier assurance questionnaire to gather information regarding cybersecurity supplychainriskmanagement (C-SCRM).
For example, the Roadmap notes that CISA will aim to “develop open source program office guidance for federal agencies” and to continue to advance software bills of material (“SBOMs”) within OSS supplychains.
In a new guide released today, CISA details how agencies can better evaluate the security of the software they purchase. Mona Harrington, assistant director of CISA’s National RiskManagement Center, helps lead the task force as co-chairwoman. CISA earlier this year finalized a secure software attestation form.
Seeking Member Feedback on GSA C-SCRM Questionnaire GSA’s Federal Acquisition Service is developing a voluntary Cyber SupplyChainRiskManagement (C-SCRM) Assurance Questionnaire for information and communications technology vendors.
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