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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.
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.
Supplychains are complex and varied; to manage them effectively, you need to understand exactly what’s happening in both your supplychain and your customers’ end markets. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. .
Ivalua’s new Environmental Impact Center empowers Procurement and SupplyChain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. As products are purchased within an organization, category managers can precisely track the year-to-date carbon emission trajectory for their purchases.
ERP vs. Best-in-Class for Healthcare SupplyChain Management? 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 verdict?
We believe that a key pillar of this transformation is the supplychain. With such growth comes supplychain complexity. Shift towards self-contracting and self-distribution: With health systems gaining significant scale and wanting more control over their supplychain, this shift is accelerating.
As a procurement professional it is paramount that “we” are aware of the conduct of our suppliers within all tiers of our supplychain. Any supplier within our chain should be performing positively in relation to these areas if they wish to remain on an approved supplier database.
For manufacturers, key functions such as sourcing and supplier management have become more challenging as the result of increasing supplychain complexity. One area that manufacturers need to focus on is improving supplychain visibility. Visibility all the way up the supplychain.
This report encouraged governments big and small to improve the “environment content” of their purchasing policies. 12 Responsible Consumption and Production , calls for a systemic approach and cooperation among all stakeholders along the supplychain to achieve sustainable production and consumption patterns.
From tight budgets and staffing shortages to supplychain issues and compliance hurdles, these obstacles complicate daily operations. Dining services and administration teams are at the frontlines of tackling these issues, making strategic partnerships in food purchasing essential for success.
I will be doing the post on vehicles sometime later this week Contract type 15 - food products, catering and automated vending For food procurement, the text of the Resolution and contract type 15 include a reference to the need to have 'short supplychains'. So what is a 'short supplychain'?
The Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychain management and procurement sit poised on the frontlines of managing global supply risks for their brands. Understanding Supplier Risk Management. Product recalls. Regulatory penalties.
Procurement and supplychain teams will play a crucial role in making this vision a reality. By ensuring that the right goods and services are purchased at the right price and delivered on time, procurement can help to ensure that a company or organization achieves its goals.
In recent years, Körber’s global supplychain management network has been intergrated increasingly into all relevant processes – from product development to requirements processing – due to its significant contribution to the company’s success.
As buyers we often expect a lot from our suppliers, but do we take the time to think about what they need from us in order to perform to the standard we often demand of them? It is important for us to remember the suppliers perspective and to effectively communicate with them, so we receive the end product that we want.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.
The majority of organizations consider supplychain transparency 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. About the research.
Healthcare Procurement: Why the Healthcare Industry Needs to Modernize SupplyChains to Meet Today’s Challenges. hospitals use the combined purchasing power of group purchasing organization, or GPOs, to save money. hospitals use the combined purchasing power of group purchasing organization, or GPOs, to save money.
P rocurement, a critical component of supplychain management, 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 supplychain management.
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, supplychain risk management/mitigation, and supplier performance management. Financial Services.
On October 5, 2023, the Federal Acquisition Regulatory Council (FAR Council) issued an interim Federal Acquisition Regulation rule (FAR rule) that implements the Federal Acquisition SupplyChain Security Act (FASCSA). federal contractors and suppliers). products and services) and “Covered Sources” (i.e.,
Amazon Web Services (AWS) is supporting the Government of Pará, Brazil, in designing and deploying SeloVerde (Green Seal) , a cutting-edge tool to address climate change challenges and traceability in deforestation-risk supplychains. Launching SeloVerde 2.1 The SeloVerde 2.1 SeloVerde 2.1 SeloVerde 2.1 post-2008 deforestation).
Supplychains are complex and varied; to manage them effectively, you need to understand exactly what’s happening in both your supplychain and your customers’ end markets. These teams were able to quickly communicate and negotiate with their key suppliers to establish a “supplier of choice” solution. .
That said, I concede that Pierre made some very good points about the confusion created by the traditional upstream/downstream, linear way of thinking about sourcing and supplier management. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management.
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.
New release features AI-powered contract management, more seamless messaging and communications, supplier risk and performance enhancements and procure-to-pay efficiency . The Message Center is an embedded chat functionality that will enable collaboration and contextual discussions amongst internal users and suppliers. Procure-to-Pay.
Dear Federal Partners, Information technology manufacturers and suppliers across the country are struggling with significant supplychain disruptions that are impacting their ability to meet customer and market demands. As one of the biggest purchasers of IT, the federal government is not immune to these challenges.
The Future of Supplier Management is Here, and it’s Holistic. Leading, high-performing procurement organizations share one common trait–they consistently prioritize a holistic and integrated approach to Supplier Management. In fact, they go beyond simply supplier management, what they do is Supplier Engagement.
On October 5, 2023, the FAR Council released an Interim Rule on “ Implementation of Federal Acquisition SupplyChain Security Act (FASCSA) Orders.” Government supplychain as directed by the Federal Acquisition Security Council (“FASC). In August 2021, the FASC issued a Final Rule adding a new 41 C.F.R.
The release includes a broad set of innovations to help organizations better manage their spend and suppliers. The release also adds or deepens integrations with Ivalua’s growing partner ecosystem to improve decision-making and optimize the purchasing experience for users. Sourcing Innovations: .
Over time the focus has shifted from the real challenge of Invoice matching to creating the perfect supplier invoice relying on OCR. It breaks the bond between Buyer and Supplier, resulting in fragile supplychains and lots of mistrust. There are exceptions to every rule, and that rule just doesn’t work.
Supplier information is typically viewed by procurement organizations as one of two things. It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategic sourcing. It does not tell us much about the suppliers.
Ivalua platform selected to improve efficiency, transparency, and the employee purchasing experience. Our complete, unified platform empowers businesses to effectively manage all categories of spend and all suppliers, increasing profitability, improving ESG performance, lowering risk and improving employee productivity.
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.
If this foundation does not exist or if it is shaky, then buyers don’t know how much the company is spending with a given supplier, let alone how they can improve the efficiency or impact of a given spend category. Direct spend suppliers are large, global, and absolutely critical to the company’s operations and their competitive advantage.
At the same time, two-thirds (66%) of businesses admitted they were still reliant on such processes as part of their Procurement or supplier management function. Purchasing (45%), invoicing (41%) and budget management (39%) are the most digitised processes to date. please visit: [link]. About the study.
One size does not fit all when it comes to supplier onboarding. Best practices have evolved to a tiered approach that segments suppliers and adapts to dynamic business needs. . A tiered approach to supplier onboarding helps Sourcing and Procurement leaders develop a sensible list of checks and resources.
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.
Healthcare supplychain GPO, Intalere, deploys an end-to-end Source to Contract solution across its purchasing functions. New York, NY March 30, 2020 – Consus , a leading procurement services provider, today announced that Intalere , a healthcare supplychain GPO based in St. Consus Global. Saurabh Mehta.
That said, I concede that Pierre made some very good points about the confusion created by the traditional upstream/downstream, linear way of thinking about sourcing and supplier management. I’m going with Supplier Value Management. Let’s get busy working on Supplier Value Management.
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. KPIs also motivate suppliers.
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.
Leveraging purchasing power to capture volume- based pricing within a competitive supplychain builds sticky relationships with healthy suppliers, keeps input costs low, and acts as a hedge against inflation. This is a great place to begin the conversation about supplier trade credits and terms. Is it worth it?
During the pandemic, Procurement flexed its muscle, helping to mitigate supplychain disruptions and enable new channels for engaging with customers and fulfilling orders. Yet in 2020, over two million people purchased goods online.
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