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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.
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. Audit SupplyChains: Identify and address environmental and social risks in the supplychain. SAP, Oracle) Procurement software (e.g., Coupa, Ariba) Data analytics tools (e.g.,
Supplychain reports offer a comprehensive view of your entire supplychain operation. They are powerful tools for businesses to identify areas for improvement, optimize processes, and gain a competitive edge. What are SupplyChain Reports?
The past few years have highlighted serious deficiencies in prevalent supplychain strategies and the major risk that disruptions pose to corporate success. years and companies can expect to lose 42% of one year’s EBITDA every decade due to supplychain disruptions. Assessing Risk across the SupplyChain.
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.
Strong supplychain capabilities drive efficiency and develop competitiveness in an oversaturated market. Global disruptions such as COVID-19 have unearthed a wide range of vulnerabilities within international supplychains.
The Manufacturing SupplyChain Journey through AI and Automation Manufacturing SupplyChains Explained The manufacturing supplychain comprises all the processes a business uses to turn raw materials and components into final products that are ready to be sold to customers, whether these are consumers or other businesses.
In the volatile landscape of global trade, the specter of tariff uncertainty looms larger than ever, casting a shadow of doubt and disruption over supplychains worldwide. The fluctuating trade policies and geopolitical tensions have created a volatile environment, leading to a surge in supplychainrisks.
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.
Manufacturing and industrials: Strengthening the supplychain backbone In the manufacturing world, procurement is about much more than just tracking spend its the heartbeat of supplychainmanagement. This means better compliance, fewer disruptions and greater efficiency in managing supplier relationships.
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 emphasis on actionable strategies (e.g.,
“Ivalua’s Risk Center brings actionable data and insights from across the supplier lifecycle together with complimentary external data so our customers can effectively manage supplier risk. The global supplychain is a breeding ground for hidden sustainability and CSR risks.
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.
This article will outline those limitations and propose that invoking competitive negotiations with machine learning solutions such as Arkestro is the optimal way to evaluate the market competitiveness of price quotes. supplier count, event size).
The COVID-19 pandemic, along with disruptions such as Brexit, trade wars, and geopolitical tensions, has highlighted the need for business leaders to take a closer look at their supplychains to strike a balance between resilience and efficiency. Enroll in the Full Course offered by our expert Vera Rozanova on SupplyChain Resilience!
20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and riskmanagement. CIOs recognized procurements role in optimizing IT spend and driving efficiency.
The COVID-19 pandemic, along with disruptions such as Brexit, trade wars, and geopolitical tensions, has highlighted the need for business leaders to take a closer look at their supplychains to strike a balance between resilience and efficiency. Enroll in the Full Course offered by our expert Vera Rozanova on SupplyChain Resilience!
Supplychains are vital to businesses, facilitating the movement of goods, services, financial flows, and information. However, they are also susceptible to disruptions and risks. Enhancing supplychain resilience as well as supplychain visibility is crucial in today’s interconnected world.
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.
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. Demand Management: Work with internal stakeholders to understand their needs and identify opportunities to reduce consumption or find alternative solutions.
Unlocking the full potential of supplychainmanagement has long been a goal for businesses that seek efficiency, resilience and sustainability. In the age of digital transformation, the integration of advanced technologies like generative artificial intelligence brings a new era of innovation and optimization.
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.
Located at the Faena Forum, the two-day event featured keynotes, breakout sessions, solution demonstrations, partner/sponsor booths and more. Overview of Ivalua NOW Americas 2024 The event followed a similar structure to that of the EMEA Ivalua NOW conference. Hazziez illuminated how the healthcare industry optimizes its 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. Arkestro introduces a templatized, embedded approach to sourcing events. Subscribe to news from Arkestro.
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.
Are you interested in expanding your knowledge on the latest trends and technologies within the supplychain industry? Wondering where to find the leading events in your local area? EazyStock has complied a new list of the top 2019 SupplyChainevents that you can’t afford to miss. Feb 3-7, 2019.
After the last few tumultuous years, procurement teams are still facing steep challenges in getting ahead of supplier and supplychainrisks. Some organizations have opted to invest in new, more robust supplier and third-party riskmanagement (TPRM) systems, while others are optimizing their existing systems.
The Art of Supplier Collaboration: Best Practices to Build Lasting Partnerships Dynamic market changes and global events seem to create newer demands and greater pressure on procurement professionals. Ensuring that your suppliers understand your commitment to customer satisfaction will help build a more responsive and reliable supplychain.
In today’s complex global business environment, effective supplychainmanagement (SCM) is crucial for maintaining a competitive advantage. Here’s how companies are using different strategies to address supplychainmanagement and meet their business goals.
In 2024, the logistics and supplychain industry will continue its transformative journey, driven by technological advancements and growing consumer expectations. According to industry reports, over half of business leaders acknowledge the need for supplychain improvements, with 52% believing they could enhance their operations.
Strategic sourcing: Adopting strategic sourcing practices enables procurement to analyze the entire supplychain and identify cost drivers. By understanding the components and processes that contribute to the final product’s cost, procurement can explore opportunities to optimize and reduce expenses.
In this age of supplychain disruptions that hold the power to upend entire industries, strength and resilience across the entire value chain is no longer a nice-to-have—it’s a survival tactic. They also factor in how a strong partnership could reduce supplychainrisk and advance sustainability.
Tim Cook has been instrumental in overseeing the company’s global supplychain and procurement operations. His expertise in managing complex supply networks has played a crucial role in Apple’s success. Attend workshops, seminars, and conferences related to procurement and supplychainmanagement.
From planning a product, design and simulation, to optimizing a specific process across the supplychain, customer expectations for AI integration continue to evolve as new applications for supplychain automation are discovered.
but also external data such as supplier networks and performance, extended supplychains, and the environmental impact of their operations. But in manufacturing it is more specifically the use of machine learning (ML) solutions and deep learning neural networks to optimize manufacturing processes.
It currently offers a SxM solution that is rapidly growing to cover other processes (sourcing, contract management, order collaboration, cost optimization). By consequence, it also brought solution providers with dedicated capabilities for direct spend under the spotlight. Poland-based Procurence is one such provider.
Assessing eAuction Bids eAuctions, or online sourcing events, have been around for more than twenty years and they have proven a highly effective tool for finding the best suppliers based on total cost. Poorly managed onboarding can even put the entire payment chain at risk of vendor fraud or mistakes.
Today I’m joined by SDI , a digital supplychain brand whose people, processes, and technology have enabled the world’s most efficient supplychains for over 50 years. Regardless of the event or platform, attendees can anticipate insights and perspectives that are truly enriching and uniquely practical.
In a rapidly changing world, the realm of supplychainmanagement stands at the forefront of innovation and adaptability. The YouTube video titled “embrace Uncertainty: SupplyChain Superheroes & Future Innovations!” Embracing uncertainty is the mark of a true supplychain superhero.
So, today in episode three, we are continuing that exploration by asking a big question: How should we approach and manage these risks, not just within the compliance landscape, but across every stage of the supplychain? Mohan is dedicated to helping clients optimize their business for continuous improvement.
As an increasing number of organizations engage with vendors on a global level to fulfill their supplychains, the need for supplychain robustness has never been so critical. This has been acutely highlighted since the turn of the decade due to global events.
Amid lower growth forecasts and higher interest rates, companies continue to grapple with the challenge of swiftly optimizing working capital. Resilience In light of increased geopolitical uncertainty and extreme weather events, the focus on strengthening supplychains against disruptions will remain.
Track and managerisk Supplier onboarding can potentially introduce significant risk to a business. Understanding and having reasonable expectations for risk is crucial to running an efficient (and safe) supplier onboarding program. Many risk teams stratify risk into two categories, inherent and residual risk.
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