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A common thread among the conversations we’ve had recently with senior procurement practitioners tells of the extent to which attitudes towards risk have changed over the past decade. Today, just the combination of the words risk, environment and supplychain make the practitioner sit up and think differently.
Mastering these skills not only optimizes procurement processes but also positions managers as strategic business partners. Legal and Compliance Knowledge Actionable Steps: Learn Contract Law Basics: Understand key contract clauses like force majeure, indemnity, and termination rights. Coursera, Udemy).
From rule-based systems to predictive analytics and the generative AI boom, businesses have leveraged these technologies to optimize operations, forecast trends, and create data-driven strategies. This leap in AI capabilities is revolutionizing industries, and AI-driven supplychainmanagement is no exception.
In the vast sea of supplychain information, which SCMDOJO supplychain article truly stands out? Dive into our curated list of the top 12 blogs from 2024 that will elevate your supplychain knowledge and give you a competitive edge. Read In Detail About Procurement Department Here 2.
As part of our theme this quarter on Procurement’s role and value in supplychainriskmanagement, we are speaking with practitioners in the field to understand their perceptions of risk — clearly different industries perceive types of risk in different ways.
In part 3 we look at the tech that can support Procurement in tariff management. Effective and efficient tariff management is rooted in robust direct materials and supplychainriskmanagement. Design-for-Supply part 1, part 2, part 3 and part 4.
Supplychains are the backbone of global trade that ensure the smooth movement of goods and materials across industries. One of the most effective strategies for building resilience is integrating project management into supplychain operations. Enhance visibility across the supplychain through structured reports.
Best-in-Class for Healthcare SupplyChainManagement? 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 Covid-19 pandemic has exposed the fact that many supplychains remain inadequately prepared for a crisis. Supplychainmanagement and procurement sit poised on the frontlines of managing global supplyrisks for their brands. Understanding Supplier RiskManagement.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supplychain disruptions, a robust procurement strategy is no longer optionalits essential. Optimize costs without compromising supplychain continuity. Build strong supplier partnerships for long-term stability.
Ivalua, a global leader in spend management, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychainriskmanagement thanks to Ivalua’s Source-to-Contract (S2C) solution. Markus Leutert.
Tariff management is a strategic subset of direct materials management and sourcing that involves navigating and optimizing the complex costs and regulatory implications of importing materials and goods across borders. Tariffs essentially taxes imposed on imports and exports directly impact product cost structures.
Supplychain and procurement have undergone a seismic change in recent years. Increased globalization, constant digital transformation, and ever-evolving consumer demands have led to a situation where traditional supplychain skills are simply no longer enough for success.
The last few years have put the word “supplychain” in the headlines as so-called supplychain disruptions and shortages have impacted everybody. Even now, supplychains are far from being “back to normal.”
“Halo Ai was born out of a deep industry need, which I recognized when I took on the role of Head of Third-Party Risk at a major Canadian financial institution, a company with over 190 years of history and a workforce exceeding 100,000 employees. What is the road ahead for Halo Ai?
Risks are guaranteed when dealing with a supplychain, but that doesnt mean you can afford to ignore them. Understanding and addressing any legal issues within your supplychain is vital to ensuring compliance with regulations and developing an effective chain that can operate efficiently and at scale.
Consider which projects or contracts require a plan B. In first instance you need to get your procurement house in order to deliver projects on time but once a contract is awarded you can work with stakeholders to track project delivery, whether if these are delivered to the agreed timescales.
Below is a ranking from highest to lowest focus on procurement and supplychain practices, as of April 4, 2025, based on their stated missions, agendas, and historical emphasis. contract negotiation, risk mitigation) gives it the strongest alignment with core procurement practices. Its balance of innovation (e.g.,
In the heart of the bustling Midstate region, a once-thriving logistics supplychain company is facing a paradigm shift as it announces the closure of its second facility.
Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency. Improve Supplier Collaboration Digital platforms facilitate smoother interactions, from onboarding to contract execution.
Finance departments focus on spend visibility, payment optimization and cost control. Legal teams emphasize regulatory compliance, contract enforcement and risk mitigation. The post Stakeholder management in procurement digital transformation: Why, what, how? appeared first on Spend Matters.
Ivalua, a global leader in spend management , and KPMG Norway today announced that Aker BP has gone live with Ivalua’s S2C and Supplier Relationship and RiskManagement (SRM) solutions to streamline its direct and indirect procurement operations. Redwood City, CA, 25 April, 2023. Learn more at www.ivalua.com.
Here’s a breakdown of the shifts over this period: 2011: Procurement as a Tactical Function Primary Focus on Cost Savings : In 2011, CFOs largely viewed procurement as a cost-control function , tasked with negotiating contracts, reducing spend, and maintaining compliance with budgets.
For businesses to succeed, supplychainoptimization is essential to succeed. Supplychainoptimization can achieve this with the help of data analytics. They can understand their supplychain operations with more precision. They can understand their supplychain operations with more precision.
From sourcing and contractmanagement to order management, supplier relationship and complaint management, JAGGAER’s solutions support Rittal in optimizing its procurement processes. JAGGAER’s source-to-pay platform met all these criteria, ultimately winning the contract.
Contract Logistics is a critical aspect of the supplychain that often remains behind the scenes but plays a significant role in ensuring the efficient movement and management of goods. Read More: 6 Logistics KPIs Attributes That are Essential ] What is Contract Logistics?
These procurement technologies empower teams to move beyond traditional methods, using data-driven insights for smarter sourcing, demand forecasting, and riskmanagement. Predictive AI, on the other hand, uses historical data to forecast potential disruptions, price changes, and supplychainrisks.
While the imposition of import/export tariffs on goods is nothing new, the recent spate of quid pro quo mandates is increasing complexity and uncertainty for organizations trying to navigate their impact on supplychains. This consolidation aimed to make supplychains more resilient.
Are you interested in understanding how businesses effectively manage their supplychains? Look no further – this guide is here to help you grasp the fundamentals of supplychainmanagement (SCM) and how it can lead to success.
The most recent Hackett Group Report highlights key priorities reshaping procurement in 2025, including technology adoption, the rise of Generative AI, and managing emerging risks. This involves analyzing spend data, identifying for consolidation, and negotiating better contracts with key suppliers.
In today’s fast-paced business landscape, having an efficient supplychain department is more important than ever. A streamlined supplychain can make a significant impact on the overall success of a business, improving operational efficiency, increasing customer satisfaction, and driving revenue growth.
Before we tackle what strategic sourcing managers are, we must first know strategic sourcing to fully grasp their role in the company. . Strategic sourcing is a part of the supplychain and puts an emphasis on customized solutions and strategic partnerships. Estimate and mitigate risks. Riskmanagement.
Supplier Relationship Management Explained. You cannot get favorable contract terms for the goods and services you want to acquire if you do not have an amicable working relationship with your suppliers. . Additionally, it allows managers to build better relationships with suppliers based on the importance of each supplier. .
The pandemic was a wake-up call for businesses worldwide, who struggled to overcome operational disruption — everything from the transition to remote working, to supplychain chaos. What’s more, PwC found that the average investment in riskmanagement among MENA companies was $1.5 Enter eProcurement.
Procurement workflows are automated using AI & smart contracts. Supplychainriskmanagement is proactive and data-driven. In short, liquidity in procurement is about streamlining processes and efficiencies to deliver optimal outcomes with fewer resources.
Make vs Buy Analysis is an essential decision-making tool in supplychainmanagement that significantly influences profitability, flexibility, and competitiveness. Importance of Make vs Buy in SupplyChain The Make vs Buy Analysis is critical for optimizingsupplychain operations.
Strategic Sourcing and Supplier Relationship Management Strategic sourcing skills are crucial for procurement professionals to effectively identify and then leverage opportunities within the supply base to create value. Strategic sourcing can also help reduce the overall risk in a given supplychain.
Historically, the focus has been on optimizing portfolios of spend—prioritizing what to address, defer, or ignore—using well-known frameworks such as the Kraljic Matrix and the Pareto Principle. While this approach saves time and effort, it also comes with inherent risks. Subscribe to news from Arkestro.
In recent years, there has been a significant shift in the supplychain industry as more and more women are choosing careers in this traditionally male-dominated field. This rise of women in the supplychain is not only breaking gender barriers but also bringing a fresh perspective and new ideas to the table.
A typical procurement competency framework covers several key areas, including but not limited to strategic sourcing, supplier management, riskmanagement, and contract negotiation. Strong negotiation can lead to cost savings, more advantageous counteract terms, and overall a much more optimized procurement chain.
This allows for the identification and implementation of measures to mitigate any delays or obstacles in the supplychain by organizations. ContractManagementContractManagement is tracking the contractual lifecycle, including contract creation, renewal, and termination dates.
An S2P suite automates spend/supplymanagement processes primarily in procurement, accounts payable and inbound supplychainmanagement, but also other areas within Legal (e.g., contractmanagement), Finance (e.g, working capital management, treasury and FP&A), R&D (e.g.,
Next, Clinton Hazziez, System VP, SupplyChain Operations and Strategic Sourcing of Baylor Scott & White Health, the largest non-profit healthcare organization in Texas, spoke about his organization’s digital transformation journey. Hazziez illuminated how the healthcare industry optimizes its supplychain.
Their primary responsibilities include negotiating with suppliers to obtain favorable terms and prices, ensuring the quality and timely delivery of goods and services, and managing the procurement process from start to finish. Furthermore, procurement managers may work in various industries, including manufacturing, retail, and government.
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