article thumbnail

Risk management solution providers and what their customers really want – Brooklyn Solutions

Spend Matters

Primarily, our customers are prioritising supply chain visibility, adopting proactive risk management strategies and staying compliant with evolving regulations. Platforms primarily support risk assessments and due diligence during onboarding but lack an ongoing risk assessment or continuous oversight post-contract.

article thumbnail

Inflation + Source-to-Pay Strategies: The Cure for the Common Price Hike

ivalua

It also has an impact on procurement teams as they are responsible for managing supplier relationships, identifying opportunities for cost savings, and ensuring that goods and services are delivered on time and within budget. This helps ensure your contracts remain favorable and that all stakeholders comply with the negotiated terms.

Price 264
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

The Best Ways to Use Project Management to Build Resilient Supply Chains Amid Global Disruptions

SCMDOJO

Businesses must find effective ways to strengthen their networks and improve flexibility to maintain stability during uncertain times. In supply chain operations, it plays a crucial role in mitigating risks, improving response times, and optimizing workflows. Enhance visibility across the supply chain through structured reports.

article thumbnail

Agentic AI in Supply Chains: The Future of Decision Making

SCMDOJO

They can proactively identify risks, optimize processes in real time, and even negotiate supplier contracts without human oversight. These AI agents leverage real-time data, predictive analytics, and generative AI to enhance resilience, reduce costs, and improve overall efficiency in AI-driven supply chain resilience.

article thumbnail

The Power Of “What If” or “Mock” RFPs

Procurement Insights

PME is not only an opportunity to warm up the market but also ensuring that any issued RFP can be met, specifications and conditions are fit for purpose and the opportunity to add innovation into the procurement and Contract and Supplier management process.” Here’s how: 1.

article thumbnail

AI and the practice of Procurement – Contracting and Legal

Spend Matters

Having led multiple projects to select and deploy technologies and worked both as a practitioner and a consultant, he knows the amount of time and effort procurement puts into finding a practical solution to help them run more efficiently, and that spurred his move to form iKinetiq.

article thumbnail

How Vendor Contracts Can Be Managed Through Procure-to-Pay Software

TYA Suite

Managing contracts efficiently can be a daunting task without the right tools, leading to missed deadlines, contract expirations, and financial losses. Provides real-time visibility into procurement activities, ensuring transparency and accountability. This is where , comes into play.