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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.
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.
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?
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.
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.
The term “supplier collaboration” can mean many things to many people depending on your functional perspective. Let’s examine three ways that better collaboration with supply partners creates value for a manufacturer from product design through demand planning. Innovating.
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.
Strategicsourcing is a contemporary approach to supplychain 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.
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.
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.
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.
REV Group embarked on its sourcing and procurement transformation earlier this year, which included four appointments to REV’s global sourcing and supplychain team, representing the Fire & Emergency, Commercial and Recreation segments. Benefits include: Shortened sourcing cycle times. ABOUT CONSUS GLOBAL.
They discussed the impact of the Covid-19 pandemic on Procurement and came up with this list of 8 critical supplychain management activities that can help Procurement teams build and maintain supplychain resilience now and in the years to come.
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. Let’s start with pricing.
Without digitization, many manufacturing organizations see one or more of these areas suffer due to a reliance on manual processes, a lack of collaboration with suppliers, and little to no visibility of risk during the product development process. Digitization Benefit #2: StrategicSourcing Alignment. Realize the Possibilities.
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.
Procurement and supplychain teams will play a crucial role in making this vision a reality. 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.
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. .
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. getting involved early on in the New Product Introduction ( NPI) cycle to ensure suppliers risk is being properly evaluated in production capacity and quality. The post Are you a SupplyChain Visionary Vick or Laggard Larry?
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 term “supplier collaboration” can mean many things to many people depending on your functional perspective. Let’s examine three ways that better collaboration with supply partners creates value for a manufacturer from product design through demand planning. Innovating.
The total costs, in terms of human lives, disrupted supplychains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. There are, however, already some clear lessons to be learned by Procurement and SupplyChain leaders.
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.
Enterprises will continue to undergo the financial burden of revenue disruptions, consumer , and uncontrolled supplychain variables. . Disruptions in global supplychains, labor market shortages, strong consumer demand. The Criticality of the SupplyChain (and Suppliers). What can we expect in 2022?
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.
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.
Creating Value occurs when sourcing and procurement uses relevant sourcing processes and tools to engage and select the best fit supplier. Monitoring and measuring value is where the procurement organization takes a holistic view of the Source-to-pay process and supplier relationships. What is Direct Procurement?
Who better to bring balance, build resilience and solidify competitive advantages than Procurement and SupplyChain. Be it stronger support or stricter policies around supplier management for sustainability and diversity or more efforts to improve the communities involved in and around a business. Balancing the Imbalanced.
Additionally, the company was looking for a trusted partner to capture cost savings and reduce supplychain risks. “As Effectively managing costs and supplychain risk is critical to success,” said Dan Amzallag, CEO of Ivalua Inc. We look forward to contributing to their Procurement cost optimization initiative”.
TPRM is the process of identifying, analyzing and mitigating risks related to third parties–including suppliers, partners, contracts, service providers, etc). The main categories of risk are covered in Figure 1 to include supplychain, information security, location, CSR or ESG, financials, regulations, quality and reputation.
For procurement and supplychain professionals, the biggest takeaway from 2020 is that no matter how hard you try, you cannot predict the future. COVID-19 disrupted supplychains on an unprecedented scale, and businesses became much more reliant on procurement teams to help mitigate the impact. .
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 supplychain processes, a journey that started last year with the successful rollout of Ivalua Sourcing solution for direct materials. .
The conference is dedicated to supplychain topics primarily focused on Advanced Planning and Scheduling Through Logistics. The first one I attended was a topic on supply base management. He cautioned us that this was a slippery slope and “You will all need suppliers to save your butt one day, never forget that”.
JLL have been rethinking their own global supplychains, even partnering to set up a whole new hand sanitiser facility when sourcing that item became difficult ! That also brought additional functionality in new areas such as risk, and supplier performance. “We Rogers had no less than 10 (!)
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.
Additionally, the company was looking for a trusted partner to capture cost savings and reduce supplychain risks. “As Effectively managing costs and supplychain risk is critical to success,” said Dan Amzallag, CEO of Ivalua Inc. We look forward to contributing to their Procurement cost optimization initiative”.
Kicking off the day with our first keynote, Ivalua’s Founder and CEO David Khuat-Duy will present his reimagined vision in a post-pandemic world, leveraging digital transformation to restore growth, and igniting new opportunities for procurement teams and suppliers. Director StrategicSourcing Digital & Functional Transformation, .
The city of New York adjusting normally cumbersome processes to secure new sources of supply for unprecedented numbers of ventilators. Dankse Bank accelerated supplier payments to help small businesses stay liquid. Sprint’s strategicsourcing transformation, presents a great example, in multiple ways.
The event is free to attend and aims to attract hundreds of procurement and supplychain professionals to discuss and learn more about the latest industry trends and processes. But now with strategicsourcing and category management, the process has become much easier to track, monitor and control.
Global automotive component supplier Meritor is a great example. They configured a unique approach to new product introductions (NPI), digitizing their engagement with suppliers, resulting in bringing more products to market faster and with greater profitability, multiplying their stock price over the period. Plan to avoid those.
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