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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.
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. Create speed and transparency. Making processes transparent enables everyone along the supply chain to react quickly.
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. .
Ivalua is here to provide the Norwegian Public Sector with a cutting-edge solution to bolster maximum value from your financial resources, while promoting compliant and transparent operations. Jarrod holds a Masters in Business Administration (MBA) from Duquesne University and a Bachelor of Science degree from Carnegie Mellon University.
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.
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.
Procurement analytics is quickly becoming a core practice for efficient operations and effective sourcing in today’s rapidly changing business environment. It focuses on how public sector entities can enhance compliance and transparency. What is Data Analytics in Procurement? contract compliance, procurement cycle efficiency).
At Ivalua, we understand the importance of having a single source of truth for your data. Having supplier information scattered across multiple systems can lead to data quality issues and even duplicate records for the same supplier. Transparency Finally, transparency is critical in public sector procurement.
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. Create speed and transparency. Why is visibility so important?
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. Create speed and transparency. Why is visibility so important?
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. .
He said he had seen it all in supply base management and had experienced the feeling of victory leaving plenty of blood on the floor in negotiating with suppliers in his day. He cautioned us that this was a slippery slope and “You will all need suppliers to save your butt one day, never forget that”. It is smart business.
Supply chain efficiency and effective strategicsourcing in support of our operations and clients are critical to achieving our objective,” said Mike Curtis, Vice President and Chief Procurement Officer at Pacific Drilling. Consus and Ivalua implemented and went live with the solution for Pacific Drilling in just two weeks.
This additional level of requirement provides a perfect opportunity to leverage the capabilities of technology to communicate and centralize spend and supplier information state-wide. Risk Reduction & Transparency : The biggest risk in public sector procurement is the perception that state spending has gone awry.
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.
Supply chain efficiency and effective strategicsourcing in support of our operations and clients are critical to achieving our objective,” said Mike Curtis, Vice President and Chief Procurement Officer at Pacific Drilling. Consus and Ivalua implemented and went live with the solution for Pacific Drilling in just two weeks.
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