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In this article we will highlight some of the key changes AI has made to procurement strategies in the following industries: manufacturing and industrials, life sciences and healthcare, and the public sector. Thats where AI steps in, offering a proactive approach to predicting supplier lead times and optimizing demand forecasts for buyers.
EDITOR’S NOTE: In December 2010, I wrote an article about one of Time Magazine’s picks for the Top Innovations in 2008 – Made-in-Transit Packaging. I obviously think what EiKO is doing regarding process visibility is great – kudos to the company for its progressive customer-centric thinking.
Global conflicts, macroeconomic shocks, and shifting global trade routes are all combining to provide real challenges to modern supply chains, and are driving the uncertainty that organizations feel. A lack of resilience can cause disruptions and delays to sourcing, transportation, or even manufacturing all of which lead to higher costs.
Our coverage also explores the latest thought leadership topics about procurement and supply, the technology that serves it and comparative analyses based on demos and the scoring of 500+ RFI requirements across 12 source-to-pay (S2P) categories that create our Vendor Ranking data. If there is no information, the article is free to read.
Supply Chain Visibility – An Overcomplicated Challenge! A recent Deloitte survey estimated only 15% of CPO’s have visibility beyond their tier one suppliers. I found this striking that there is so little multi-tier Supply Chain visibility. Visibility comes at a cost – one we’ve spoken about before: trust.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react.
We also recommend reading the full article on the SAP Community blog site. Real-time monitoring is vital for SAP BTP cloud-native applications. Overview of IBM Instana and its capabilities in the SAP BTP environment IBM Instana provides real-time monitoring and observability for SAP BTP applications.
In this article,we delve into how graph databases are revolutionizing the resilience of supply chains,offering a glimpse into the future of seamless,efficient,and adaptive operations. One key advantage of using graph databases in inventory management is their ability to enhance the resilience of supply chains.
In this Spend Matters Vendor Analysis Update, we give an updated overview of Zivio, a solution that helps organizations (buying organizations and MSPs) manage sourcing for complex services categories, such as legal, marketing or facilities management. This content is for members only. Visit the site and log in/register to read.
In this article, we will explore the role of AI in logistics, discuss its importance, and the best practices for implementing AI in logistics. Artificial intelligence is being used to automate routine and time-consuming work in warehouses such as packing and sorting of goods which helps to improve efficiency, reduce errors and costs.
In this article, we delve into the key disruptions shaping the MESCBN market and explore the innovative strategies vendors can leverage to capitalize on this burgeoning industry. From optimizing supply chain processes to enhancing visibility and clarity, the benefits are truly transformative.
Many of these organizations are already using Source-to-Pay technology and are now realizing more than ever that technology is a “must have” to ensure their supply chain remains resilient and agile throughout a crisis. These challenges in the direct material supply chain pose a real threat, especially in a time of crisis.
The seamless connection allows for automated invoice scanning, approval workflows, and real-time spend visibility. Sage Intacct also provides a real-time total of cash available, this figure updating as bills are paid to always provide the most accurate available balance.
In this article, well explore proven strategies to safeguard your supply chain, minimize risks, and keep your business running smoothly, no matter what obstacles lie ahead. Geopolitical issues: Trade wars, tariffs , political instability, or regulatory changes that affect sourcing.
In this article, we will discuss all things that you should know about ERP software in construction. After reading this article, you will have a deeper understanding of ERP software for construction. The system gives the user accuracy, visibility, and control over whether the project can be profitable or not. CAD interface.
In this article, we will discuss what spend management is. After reading this article, you will gain a deeper understanding of what spend management is. However, these manual processes are ineffective and cost a lot of effort, time, and money. Visibility of expense data. However, how do you manage your spending?
In this article, we will discuss what a sustainable supply chain is all about. Once you are finished reading this article, it will allow you to know the impact of sustainability on your supply chain and also on the world. Thus, taking advantage to combine shipments or use less resource-heavy logistics. . Machine Learning.
This article will look at how edge computing is revolutionizing supply chain management. This distributed model means that edge computing can reduce network latency by allowing actionable data from sources like sensors and other IoT devices to be analyzed much closer than would otherwise be possible with cloud-based systems.
Creating a structure and a visibility across all of this activity is key, so as those affected can actually see it bearing fruit. Sheldon uses "just-in-time" (JIT) as a great example of how supply chains have been primarily driven by cost savings activities rather than collaboration.
“Supply chain visibility refers to the ability to track and monitor products, materials, and information as they move through the various stages of a supply chain, from the sourcing of raw materials to the delivery of the final product to the end consumer. Keep that in mind.
It integrates with cost accounting systems to track spending, ensures smoother workflows for accounts payable and accounts receivable, and provides real-timevisibility into purchasing activities. By providing real-time insights, it helps businesses identify unnecessary spending and make informed decisions to optimize budgets.
Technologies to optimize Supply Chain article and permission to publish here provided by Arra at No-BS Marketplace. In case you haven’t implemented this service for faxing online , it might be high time you try the technology, by opening an online portal from a web fax service provider. Subscribe Here! Email Address.
5 of the Most-Read Procurement Articles Don’t miss the five most-read procurement articles on Unaversity, Una’s online resource center dedicated to empowering procurement. By Hugo Britt | July 25, 2023 Search Search It’s always interesting to discover which articles on a blog drive the most engagement.
The huge growth in the use of technology has been the most visible part of that developing picture. I first saw this term used a few years ago by Philip Ideson, as a title for his website and excellent series of podcasts, and it feels like this may be an idea whose time has come.
For this article, we are going to discuss what inventory forecasting is. We will discuss the importance and the different types of inventory forecasting. Additionally, we will tell you the best practices in forecasting and the benefits when you efficiently forecast your inventory. However, what is it?
Whether you’re a business owner, manager, or simply curious about the inner workings of the global economy, this article will provide you with a solid foundation. From sourcing raw materials, manufacturing, and storage, to transportation and distribution, SCM ensures efficiency and cost-effectiveness throughout the entire journey.
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Thanks to AI and other tools, you can now make better decisions with real-time data. Let’s delve into the details.
Spend Matters is publishing a series of articles about procurement, supply and services trends for the year ahead from expert tech and services providers in the market. Today, for procurement organizations too, applying an AI-first approach has become imperative, especially in the source-to-pay process.
In this article, we’ll delve into the benefits and challenges of this powerful tool, and discuss the architecture that’s necessary to successfully integrate it into your business. When it comes to managing a supply chain, having access to real-time data can be a game-changer.
How to gain visibility and control of your indirect spend. How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. By exploring multiple income sources, MATs can pool resources, drive trust-wide initiatives, and create financial resiliency for long-term success.
This Spend Matters Brand Studio article was written in conjunction with Certa. The technology opens up a wealth of capabilities not previously possible for the procurement practitioner in terms of data availability, end-to-end visibility, cost, time and risk reduction, and ultimately the overall health of the third-party network.
Supply Chain Investment Challenges – Real and Imagined! Intelligent Supply Chain technologies article and permission to publish here provided by Dan Weinberger , UN Supply Chain Expert and CEO of Morpheus Network. Data analytics provides actionable insights to save time, effort and cost. electronics). Hyperautomation.
The reference to “ Visibility” with a single source of truth ” – How often do we hear that phrase used in 2023 suggests that we still haven’t achieved it yet. If Cisco has achieved a single source of truth visibility, maybe we should look at how they did it and emulate them?
It’s a good time to reflect on recent global events and what this should mean for the future. Despite the cataclysmic disruption caused by the pandemic, inertia will prevent real and sustainable progress from being made. And having the courage to implement these changes will be the real test of leadership.
Article originally published by, and permission to publish here provided by, Sam Jenks at kodiakrating.com. It’s become the keyword that you see in article titles and hit like or share when scrolling by? So, what are the steps that need to be taken in businesses globally to make real sustainable impact? Sustainability.
Now, I know settling into a new role can take a little time, so I don’t want you to feel under any pressure to make any significant impact straight away. I wouldn’t expect any real results from you until you’ve spent a month or two reviewing our current supplier arrangements.” “Hmm Step 1: Gain visibility of spend data.
Why Do We Need Supply Chain Visibility? Supply chain visibility is a critical factor for organizations aiming to mitigate risks, optimize processes, and capitalize on opportunities. But why does achieving comprehensive visibility remain a pressing challenge for so many businesses? Why is visibility so important?
In this article, we’ll go over a few ways to improve the process: education, gaining spend visibility , categorizing spend by supplier or department, etc. Understanding these categories is the first step toward better visibility, smarter procurement processes, and tighter budget control.
Tools like PLANERGY enhance supply chain resilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers. Building strong supplier relationships, diversifying sourcing, and adopting solid inventory management practices are essential to minimizing risks and ensuring service continuity.
A 3PL offers a comprehensive range of services, including transportation, warehousing, distribution, and value-added solutions such as inventory management, packaging, and assembly. This article delves into the development of a robust and scalable Orchestration Solution specifically designed for 3PL integration.
SCM software article and permission to publish here provided by Irina Kapetanakis. In the early days of supply chain digitization , these systems provided increased visibility and data pools to improve supply chain operations. The Problems with ERP Systems. ERP systems have dominated the supply chain software space for decades.
Our 10 Best Articles! A company’s supply chain usually comprises all the operations between sourcing raw materials and delivering the product to customers. Through knowledge management, supply chains have access to more complete and accurate information within the organization and external sources. Subscribe Here! Email Address.
Download Free Copy Ultimate Guide to Procurement in Education: Tips for Schools & Academies Category Spend Management Written by Keith Murphy 16 min read Tags Education Procurement Last edited February 24, 2025 Download PDF IN THIS ARTICLE What is Procurement in Education? Book a Live Demo 2.
When it comes to improving procurement efficiency, though, a sourcing hero’s work is never truly done. Instead of sitting back, the profession must make a long-term and ongoing commitment to sharpening its sourcing processes. Instead, they’ll be able to spend more time nurturing the relationships that really matter.
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