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” – VendorManager | ONE AMERICAN BANK Use Data and Analytics to Make Informed Decisions Modern procurement relies heavily on data. Sustainable procurement focuses on purchasing products and services that have minimal environmental impact, are ethically sourced, and support fair labor practices.
Audrey IZARD, Chief Purchasing Officer for Indirect Sourcing for the L’Oréal Group , will address the audience with her ESG-inspired keynote “Partnering for a More Sustainable World”. . This year, we’ve invited industry thought leaders to join 5 expert panels covering data, supplier collaboration, procurement finance, and vendormanagement.
Quite often there can be a general lack of spend and vendormanagement and strategic sourcing activities. Due to informal supply chain practices and systems and a lack of direct relationship management of vendors, it is hard to truly have visibility into all spend and all vendors.
They ensure timely and cost-effective procurement of the right products, streamline procurement operations, and foster strong vendor relationships. Their strategic approach to vendormanagement often results in more favourable terms and stronger partnerships.
Not only did they address an emergent operational issue, but they also took the first step toward the digitization of vendormanagement and purchase order placement processes. . After they designed, built, and deployed the solution, they could register hundreds of suppliers within hours of launching. A Path Forward.
They can also set up agreeable terms for suppliers who align with their overall diversity and sustainability missions. The data from the C2FO working capital marketplace cycles back into the Ivalua platform and adds more vendormanagement and risk intelligence. Better Margins = Direct impact to their bottom line.
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