Skill Dynamics

DECEMBER 18, 2024

This article aims to help you understand different procurement fraud risks, arm you with a set of effective strategies for managing procurement fraud, and help you understand the true benefits of effective procurement fraud management. Lets take a look. This enhances productivity and reduces operational costs.

Risk 52

Risk Strategy Supply Chain Efficiency Procurement 52

Procurement Tactics

NOVEMBER 24, 2022

Responsible sourcing or ethical sourcing is an approach to sourcing and supply chain done by companies to consciously source and procure products or services for their operations in sustainable and ethical ways. You can think of sustainable sourcing as the cousin of ethical sourcing. However, what is it? New legislations.

Sourcing 193

Sourcing Ethics Sustainability Supply chain 193

IBM Supply Chain Blog

MARCH 27, 2024

Many have been doing this by leading the charge on responsible AI innovation, centered on ethics and transparency, throughout their entire careers. The post The “hidden figures” of AI: Women shaping a new era of ethical innovation appeared first on IBM Blog.

Ethics 88

Ethics Innovation Leadership Import 88

ivalua

SEPTEMBER 19, 2022

The past few years have highlighted serious deficiencies in prevalent supply chain strategies and the major risk that disruptions pose to corporate success. Organizational abilities to effectively assess risk and engage suppliers to mitigate it are woefully lacking in most cases. Are the supplier’s 3rd party risk ratings acceptable?

Risk management 130

Risk management Supply Chain Efficiency Supply Chain Optimization Risk 130

Arkestro

AUGUST 27, 2024

As artificial intelligence (AI) continues to transform supply chain operations, it’s crucial for managers to understand not only the potential benefits but also the ethical implications and risks associated with adopting these powerful tools.

Ethics 74

Ethics Supply chain Risk Management 74

IBM Supply Chain Blog

DECEMBER 4, 2023

“Organizations are responsible for ensuring that AI projects they develop, deploy or use do not have negative ethical consequences,” as per Gartner. Yet while 79% of executives say AI ethics is important to their enterprise-wide AI approach , less than 25% have operationalized ethics governance principles.

Ethics 74

Ethics Risk Networking Risk management 74

ivalua

SEPTEMBER 8, 2022

Originally published on Risk Management Monitor. The job of procurement is to ensure performance is as promised, risk is low and business objectives are being met through collaboration. Ivalua Supplier Risk and Performance Management Checklist. When suppliers are treated as partners, they can be a huge asset in times of trouble.

Risk 130

Risk Suppliers Management Supply Chain Efficiency 130

Procurement Leaders

DECEMBER 9, 2022

Our challenges are linked to digitalisation, risk management and inflation. With risk management, we are revising our buying policies and introducing a digital risk management suite that covers all our risk dimensions – supply, financial, quality, ethical, and so on. Why are they so important?

Risk 130

Risk Suppliers Risk management Buyers 130

Supply Chain Brain

JUNE 25, 2024

Globally, it's estimated that $161 billion worth of clothing and textiles fall into an area of risk that makes them prone to being produced by forced labor annually.

Ethics 116

Ethics Price Supply chain Risk 116

TYA Suite

NOVEMBER 15, 2024

This introduction to supplier risk management outlines the importance of effectively identifying and managing risks that may arise from suppliers. Supplier risk management is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations. This process is known as supplier risk management.

Risk management 40

Risk management Risk Suppliers Strategy 40

ivalua

JULY 28, 2020

in “The Forrester Wave : Supplier Risk And Performance Management (SRPM) Platforms, Q3 2020.” According to the report, enterprise spend on SRPM solutions grew by 15% in 2019 as “CPOs need to protect their firm’s customers and brand by ensuring that all their suppliers are safe, secure, reliable, and ethical.

Risk 26

Risk Suppliers Management Ethics 26

Procurement Tactics

NOVEMBER 21, 2022

Corporate social responsibility (CSR) is the continuing commitment by businesses to behave ethically and contribute to the development of the economy all while enhancing the quality of life of its workforce and their families as well as the surrounding community. . Starbucks’ commitment to ethical sourcing. But what is it? .

Ethics 209

Ethics Sustainability Import Supply Chain Efficiency 209

IBM Supply Chain Blog

FEBRUARY 22, 2024

The rise of foundation models that power the growth of generative AI and other AI use cases offers exciting possibilities—yet it also raises new questions and concerns about their ethical design, development, deployment, and use. Known risks from prior or earlier forms of AI systems.

Ethics 60

Ethics Risk Strategy Import 60

Skill Dynamics

FEBRUARY 4, 2025

Strategic sourcing can also help reduce the overall risk in a given supply chain. Its also vital that you effectively manage supplier contracts to reduce risk and maximize supplier value. Sustainability and Ethical Sourcing Ethical considerations now need to be made at every level of the procurement process.

Procurement 59

Procurement Supply Chain Efficiency Supply Chain Optimization supply chain budgeting 59

Procurement Tactics

NOVEMBER 23, 2022

Corporate social responsibility (CSR) is the commitment of businesses to behave ethically and contribute to the development of the economy all while improving the quality of life of their workforce and their surrounding community. . Corporate Social Responsibility – What is it? What is Sustainability in Procurement?

Procurement 206

Procurement Ethics Sustainability Supply Chain Efficiency 206

SCMDOJO

FEBRUARY 21, 2025

The right procurement strategy ensures that organizations: Mitigate risks before they escalate. This is why having a strong procurement strategy is criticalit ensures business continuity, cost control, and risk mitigation in times of uncertainty. Risk Reduction: A diversified supply base and contingency planning minimize disruptions.

Agile and Lean Supply Chain 59

Agile and Lean Supply Chain Supply Chain Optimization Supply Chain Efficiency Supply chain 59

Procurement Tactics

APRIL 18, 2023

Furthermore, supplier assessment in sustainability can help businesses to ensure that the suppliers are compliant with their sustainability standards and that they are practicing ethical practices within their operations. This approach is good when the sustainability risks are low and you have time to mitigate them.

Sustainability 196

Sustainability Suppliers Procurement Ethics 196

Una

MAY 18, 2023

Procurement Fraud: Understanding, Mitigating, and Monitoring the Risks Understanding the nature of procurement fraud, why it poses a strong risk in procurement, and ways to mitigate the consequences. Procurement fraud is a significant risk that can have severe consequences for organizations.

Risk 98

Risk Procurement Bidding Suppliers 98

Procurement Tactics

APRIL 6, 2023

We will also tell you how you can analyze your supply chain and how you do an initial risk assessment. Furthermore, A sustainable supply chain is one that fully adopts ethical and environmentally responsible practices into a competitive and successful model. However, how do you do it? How can it be improved? Then look no further.

Supply chain analysis 226

Supply chain analysis Sustainability Supply Chain Efficiency Supply Chain Optimization 226

Procurement Insights

DECEMBER 4, 2024

The likelihood of adopting an agent-based model for ProcureTech implementations varies across generations based on their familiarity with technology, risk tolerance, and openness to innovation. Preference for stability and risk-aversion makes them cautious about adopting emerging frameworks like agent-based models.

Agile and Lean Supply Chain 72

Agile and Lean Supply Chain Supply Chain Optimization Innovation Supply Chain Efficiency 72

Skill Dynamics

JANUARY 9, 2025

It means theres always the correct amount of stock available to meet customer demands, without the risk of overstocking. Capability 3: Risk Management and Mitigation Supply chains are consistently exposed to a whole host of common risks, from supplier bankruptcy, to transportation delays, and even the effects of natural disasters.

supply chain budgeting 52

supply chain budgeting Supply Chain Efficiency Supply Chain Optimization Supply chain 52

Barkers Procurement

DECEMBER 19, 2024

In the realm of modern business practices, Environmental, Social, and Governance (ESG) criteria have become integral to shaping the strategic framework of organisations aiming to operate sustainably and ethically. This monitoring is crucial to ensure compliance with both internal and external standards and regulations.

Supply Chain Efficiency 52

Supply Chain Efficiency Supply chain Supply Ethics 52

Let's Talk Supply Chain

MARCH 2, 2025

Additionally, the Institute for Supply Management ‍(ISM) news highlighted the growing focus on sustainability and ethical sourcing within supply chains. companies are increasingly prioritizing environmentally friendly practices and ensuring that their suppliers adhere to ethical standards.

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Supply management Supply chain 52

Skill Dynamics

FEBRUARY 13, 2025

Upskilling in more strategic skills , such as risk management or sustainable sourcing, will lead to improved efficiency and innovation within your supply chain, while also providing your staff with career advancement opportunities increasing the likelihood of employee retention. What Is an End-to-End Supply Chain?

Supply Chain Optimization 52

Supply Chain Optimization Supply Chain Efficiency Agile and Lean Supply Chain Supply chain 52

ivalua

AUGUST 21, 2022

Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.

Procurement strategies 240

Procurement strategies Sustainability Strategy e2e 240

ivalua

JUNE 29, 2021

Global governments and businesses are now recognizing diversity programs as an effective “ethical” mechanism to increase community engagement and correct systemic issues or historic inequality. However, the ethical justification is no longer the totality of the value proposition. Building Business Cases and Momentum.

Business strategy 162

Business strategy Suppliers Strategy Ethics 162

Procurement Heads

JANUARY 4, 2023

We have teams that look after risk and excellence because in financial services we need to demonstrate to our regulators that we have appropriate controls in procurement and supplier management. My team has regular governance meetings with our suppliers where we cover third-party risk management topics, performance, value and sustainability.

Supply Chain Efficiency 246

Supply Chain Efficiency Agile and Lean Supply Chain Sustainability Suppliers 246

Procurement Templates

MARCH 7, 2024

Risk management: Strategies for identifying and mitigating risks associated with procurement activities, such as supply chain disruptions, financial instability of vendors, and legal or regulatory compliance issues.

Supply Chain Efficiency 130

Supply Chain Efficiency Procurement Ethics Contract management 130

Procurement Tactics

MAY 2, 2023

Additionally, it helps ensure that your procurement processes are conducted responsibly, ethically, and sustainably. The most efficient way to ensure that sustainability risks are incorporated into procurement decision-making is to integrate sustainability features within these documents. Why are the specifications important?

Sustainability 204

Sustainability Procurement strategies Negotiation Ethics 204

Skill Dynamics

DECEMBER 4, 2024

Ethical Sourcing Working with a supplier can be a shot in the dark, but not if you ask them to be upfront with you surrounding the ethics of their supply chain sourcing. Do they have a specific ethical sourcing policy in place? Are they actively preventing child or forced labor within their supply chain?

Sustainability 52

Sustainability Suppliers Supply Chain Efficiency Ethics 52

Procurement Heads

JULY 6, 2022

We are responsible for the procurement of strategic purchases and what that means for us is anything that is high value, high-risk, third-party engagements. As far as the split of the function we have four main areas, sourcing – a mix of Procurement Managers and Advisors across Germany, London and Delhi. Who has been your greatest role model?

Networking 241

Networking Supplier relationship management Procurement Risk 241

Jaggaer

NOVEMBER 14, 2024

This early involvement allows procurement to provide critical market and supplier intelligence, advising on component sourcing risks that could delay production. Early Supplier Involvement (ESI) has been shown to shorten development cycles and lead times while reducing development costs and risks.

Supply Chain Efficiency 52

Supply Chain Efficiency Procurement Chief Procurement Officer Supply Chain Optimization 52

SCMDOJO

SEPTEMBER 24, 2024

Risk Management : Outsourcing exposes companies to risks such as supply chain interruptions, price fluctuations, or geopolitical issues. Internal production mitigates these risks but requires more resources and limits the company’s ability to scale rapidly. Consider other factors such as quality, flexibility, and risk.

Supply Chain Efficiency 98

Supply Chain Efficiency Supply chain management Supply chain management supply chain budgeting 98

Jaggaer

OCTOBER 24, 2024

This collaborative approach can take various forms, from co-developing new products to jointly managing risks and ensuring sustainability in the supply chain. A major pharmaceutical company might collaborate closely with its suppliers, distributors, healthcare providers, and consultants specializing in ethical best practices.

Collaboration 52

Collaboration Innovation Suppliers Supply Chain Efficiency 52

Procurement Templates

NOVEMBER 26, 2023

An open letter by the nonprofit, Future of Life Institute, appealed for a pause in the development of more advanced forms of AI, citing possible danger and future risk as reasons. AI as Your Procurement Sidekick Imagine having a partner that not only crunches numbers but also identifies trends, risks, and opportunities.

Procurement 130

Procurement Supply Chain Efficiency Ethics Supply Chain Optimization 130

Procurement Tactics

JUNE 28, 2023

It enables managers and businesses to minimize costs, prevent and mitigate risks, and essentially identify issues and problems early on in the procurement process. Compliance and Risk Management Throughout the procurement process, monitoring compliance with the applicable legislation and regulations is crucial.

Supply Chain Efficiency 178

Supply Chain Efficiency Procurement supply chain software solutions supply chain budgeting 178

IBM Supply Chain Blog

OCTOBER 16, 2023

As more businesses use AI systems and the technology continues to mature and change, improper use could expose a company to significant financial, operational, regulatory and reputational risks. An AI governance framework ensures the ethical, responsible and transparent use of AI and machine learning (ML).

Risk 70

Risk Management Ethics Real-time Visibility 70