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How the importance of risk management has changed for procurement – and what to do about it

Spend Matters

As little as 10 years ago, we heard stories of pretty much indifference to risk: “supply risk management was young,” we heard, and “we didn’t worry too much about risk; we spent a very small percentage of our time on it.” In financial services for example,” says Stephen, “the biggest risk concerns are around cyber attacks and data breaches.

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Risk management solution providers and what their customers really want – Exiger

Spend Matters

Yes, we’ve seen a clear increase in demand for risk-related technology from our customers, driven by the growing complexity and volume of data they are required to manage. We’re seeing larger RFPs over time asking for greater complexity. This shift is evident in the growing size and complexity of RFPs for risk-related tech solutions.

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The AI advantage: Why procurement can’t afford to sit on the sidelines

Spend Matters

The days of relying solely on traditional processes to manage suppliers, contracts and spend are quickly fading. Supply chains are more complex than ever, stakeholder expectations are soaring and the sheer volume of data that procurement teams must sift through is overwhelming. Procurement is at a crossroads.

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Navigating Tariff Turmoil with Data-Driven Supplier Relationship Management – Institute for Supply Management News

Let's Talk Supply Chain

In this fast-paced economic landscape, the importance of strategic supplier relationship management cannot be overstated. By harnessing the‍ power of data-driven insights, organizations can navigate these challenging waters with precision and grace.

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Return to Success: Streamlining Returns in the Supply Chain for Enhanced Efficiency

Speaker: Cathy Morrow Roberson, Research Manager for the Reverse Logistics Association

Businesses need to leverage advanced tracking systems and data analytics to identify bottlenecks and improve supply chain visibility. While establishing efficient communication channels with suppliers and empowering customers with comprehensive return information can be challenging, it is attainable with the right approach and tools.

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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.

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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. The future of risk technology will focus on AI-driven automation, improving data quality and ensuring compliance.