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Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategicsourcing process.
Strategicsourcing is one of the foundations of modern procurement. The post How to Build A StrategicSourcing Strategy (that Goes Beyond Category and Supplier Management) appeared first on Art of Procurement. When executed well, it’s about holistically managing the entire acquisition.
In last week’s blog , I began discussing telltale signs that you have entered the new age of strategicsourcing. Leading manufacturers have proven that best-in-class strategicsourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.
Since its inception in the late 1980s, strategicsourcing has always been about getting the best value for the goods and services purchased from third party suppliers. Strategicsourcing requires an intense focus on the total cost of ownership, while incorporating customer needs, organizational goals, and market conditions.
Big data is more than a buzz term, and if you are a strategicsourcing professional, it is a concept that should not be ignored. This magnifies drastically when you multiply across all of sourcing, as well as suppliers, engineers, and managers. Think about all the emails you send, quotes you submit, analyses you save.
Strategicsourcing is a contemporary approach to supply chain management. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented. In this post, we explain what strategicsourcing is, why it is important and how it can be implemented.
So what does “good” strategicsourcing look like? The primary difference between StrategicSourcing and “good” StrategicSourcing is contextualized flexibility. If Procurement follows a StrategicSourcing process flow like a checklist, then all StrategicSourcing projects will start and end in the same way.
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 strategicsourcing.
However, few manufacturers ever sit back and ask, “How can our procurement or strategicsourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategicsourcing is the first place to start shaping the customer journey. Suppliers are experts in their domain.
With new teams and processes to be integrated in the future, Crelan required a platform that would help structure a more complex Procurement organization while remaining EBA and NBB compliant throughout every step of the Sourcing and Supplier Relationship Management journey.
attempt to make a point about the relative value of strategicsourcing, I failed to realize that thought leadership is apparently the exclusive domain of pundits. I’m going with Supplier Value Management. It means turning your supplier relationships into a competitive advantage that enables you to win in the market.
The term “supplier collaboration” can mean many things to many people depending on your functional perspective. If you work in product design or engineering, supplier collaboration is focused on integrating strategicsuppliers into your product innovation efforts. Innovating.
Ivalua, a global leader in spend management , today announced that bol.com, the largest online retailer in the Netherlands and Belgium, has selected Ivalua’s solution to digitalize its indirect Source-to-Contract (S2C) processes. The project has been delivered in partnership with Accenture. Learn more at www.ivalua.com. Follow us at @Ivalua.
Massy, France 18 March , 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, and CKS BeNeLux today announced that Punch Powertrain has successfully deployed Ivalua’s platform to support the digital transformation of the strategicsourcing process. Please visit our website: www.cks-consulting.com/en.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change. See you soon!
If you happen to be a strategicsourcing professional within the manufacturing industry, you probably are experiencing many challenging days at the office. For example, bad supplier choices can hurt your company’s reputation, lead to production line shutdowns, and contribute to loss of profits. Leverage their knowledge.
Product manufacturers have become increasingly dependent on their strategicsuppliers to create a competitive advantage in the market. These collaborative supplier partnerships present manufacturers with a number of opportunities to achieve greater product success. Effective Supplier Engagement Requires a Structured Approach.
A checklist guide to getting the most out of your supplier risk management program. The wave of globalization has made businesses more reliant upon their suppliers than ever before. This reliance can increase supplier risk or uncover a large source of value and supplier innovation for organizations. .
Offering customers a market leading source-to-pay platform coupled with powerful supplier discovery, diversity and data enrichment from Tealbook. the ‘Trusted Source of Supplier Data’ today announced a new partnership to provide a seamless experience between Ivalua’s Source-to-Pay Platform and Tealbook’s Supplier Intelligence Platform.
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 strategicsourcing.
attempt to make a point about the relative value of strategicsourcing, I failed to realize that thought leadership is apparently the exclusive domain of pundits. I’m going with Supplier Value Management. It means turning your supplier relationships into a competitive advantage that enables you to win in the market.
The strategicsourcing technology market is a crowded space. Walk the exhibit floor at the annual ISM conference and you’ll easily find more than 40 providers offering a wide variety of e-sourcing solutions. So how do you know if you have the right sourcing technology for your business?
The term “supplier collaboration” can mean many things to many people depending on your functional perspective. If you work in product design or engineering, supplier collaboration is focused on integrating strategicsuppliers into your product innovation efforts. Innovating.
As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. Procurement technology can also help businesses improve supplier relationships and enhance communication between buyers and suppliers.
Norway Public Sector Solution Details Jarrod McAdoo Director of Product Marketing Jarrod McAdoo brings over 26 years of procurement experience to Ivalua as a product expert for the Analytics & Insights, Supplier Management, Spend Analysis, and Environmental Impact Center Solutions.
However, implementing category strategies for successful sourcing and supplier management can be challenging without the right tools. Sourcing locally is not just beneficial for individual businesses but the entire local economy. Developing and executing category strategies is critical to effective strategicsourcing.
Redwood, CA, 20th December 2021 – Ivalua, a leading provider of global Spend Management Cloud solutions, today announced that Canada’s largest co-operative, Federated Co-operatives Limited (FCL), has gone live with its source-to-contract solution which includes a seamless integration to TealBook, the leading supplier data foundation.
But one critical area remains in need of significant attention … the need for better supplier collaboration AND internal teamwork. Early collaboration among engineering, sourcing, and suppliers brings better ideas to the table in terms of product design, features, and costs. Suppliers are always looking to hide sources of cost.
System will improve the experience for employees and suppliers while supporting sustainable growth in shareholder value. The initial scope which was delivered in a 5-month project included Supplier Risk and Performance Management, Sourcing and Contract Management.
Limited supplier reach: ERP systems don’t go far enough when it comes to reaching and managing suppliers. There’s often little visibility into supplier performance and risk, limited supplier collaboration and communication, and little or no ability to manage supplier contracts and agreements.
Quite often there can be a general lack of spend and vendor management and strategicsourcing activities. For example, unique workflow and fields in a requisition to capture doctor, patient, product serial numbers & procedure details and route specific product types to specialized buyers/suppliers.
“Partnering with Consus Global and our successful deployment of Ivalua will accelerate our progress in supply chain optimization at REV Group by applying a powerful toolset of data, supplier management, and competitive bidding capabilities to our team,” says Rob Vislosky, Chief Supply Officer of REV Group. “We
O-I Glass has chosen Ivalua after assessing technology and process gaps related to strategicsourcing, supplier relationship management, category management, vendor quality, sustainability, and compliance. Ivalua is a leading provider of cloud-based Spend Management software.
New forecast and order collaboration capabilities allow companies to improve collaboration between buyers and suppliers, reducing cycle times and risk of supply chain disruptions. in “ The Forrester Wave : Supplier Risk And Performance Management (SRPM) Platforms, Q1 2018.” Recognized as a Leader by Analyst Firms.
They may not consider potential issues of integrations, supplier onboarding, supply chain data management, change management and system optimization, all of which add to complexity and costs. ERPs tend to be built for the back office, so they lack the consumer-like user experience that leads to high user adoption among suppliers.
Our customers have seen anywhere between 4-24% cost reduction across a portfolio of initiatives including reduction in procure to pay (P2P) cycle time, increased transparency in the complete procurement life cycle, access to alternate local and global suppliers and effective ways of managing supply chain risks.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Navistar had a jump start on putting robust systems in place, but their suppliers didn’t.
Procurement teams had to work closely with suppliers to find creative ways to solve problems, and they instantly realized the benefits of transparency in their supply chains and supplier risk management for business continuity in times of crisis. Navistar had a jump start on putting robust systems in place, but their suppliers didn’t.
Rapid Optimization of Contract Management, Supplier Management and Direct Materials Sourcing. This deployment is another significant step forward in the digital transformation of their overall supply chain processes, a journey that started last year with the successful rollout of Ivalua Sourcing solution for direct materials. .
Procurement analytics is quickly becoming a core practice for efficient operations and effective sourcing in today’s rapidly changing business environment. This knowledge enables procurement professionals to streamline operations, optimize spending patterns, and improve supplier performance.
Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for StrategicSourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report.
Ivalua is now the only vendor positioned as a Leader in four separate reports — the Gartner Magic Quadrant for StrategicSourcing Application Suites, Gartner Magic Quadrant for Procure-to-Pay Suites, The Forrester Wave™: eProcurement Platforms, Q4 2019 and this report.
The Criticality of the Supply Chain (and Suppliers). Last year, 62% of enterprises that made an investment in supply management technology over the past two years took the suite-based approach (strategicsourcing suite or full Source-to Settle suites. More on that here. The Best Way Forward for 2022.
The second, authored by Andrew Bartels and published on December 18, is The Forrester Wave™: Source-To-Contract Suites, Q4 2019. It covers spend analysis, sourcing, contract management and supplier risk and performance management (SRPM), similar in scope to Gartner’s StrategicSourcing Application Suites Magic Quadrant.
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