This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChainResilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Create speed and transparency.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supplychainresilience and agility in times of crisis. There are many supplychainmanagement lessons to learn from the Covid-19 crisis.
This Spend Matters Vendor Analysis provides an overview of Halo Ai and its solution for third party riskmanagement. Third-party riskmanagement (TPRM) is often an afterthought for organizations or a measure only taken after a riskevent occurs. This content is for members only.
This introduction to supplier riskmanagement outlines the importance of effectively identifying and managingrisks that may arise from suppliers. Supplier riskmanagement is crucial for businesses, as it helps them mitigate potential challenges that can disrupt operations.
With 30% of respondents indicating their organizations are suffering from an inability to assess risk across suppliers, many are investing in new strategies to minimize the frequency and impact of disruption. The study also found that suppliers will be vital for successfully ensuring supply continuity. media@ivalua.com.
The appetite for third-party riskmanagement (TPRM) within procurement and the supplychain is keener than ever before — risks are more numerous and complex in what is an increasingly fast-paced and global business environment. Read our analysis: Risk is complex — The different types and sources of risk.)
Subscribe to SupplyChain Game Changer. SupplyChainRiskManagement is a Cirque Du Soleil Calibre Act! In today’s world, supplychains are more important than ever. In fact, 89% of businesses encountered a supplier riskevent in the last five years. Subscribe Here!
In 2020 several disruptive events shifted strategic supplychain priorities. An end-to-end approach for supplychainresiliency is imperative to tackle future industry challenges and disruptive events.
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. Analytics and insights from procurement data were minimal.
Enroll in the Full Course offered by our expert Vera Rozanova on SupplyChainResilience! Importance of SupplyChainResilienceResilientsupplychains are better equipped to absorb shocks, respond swiftly to disruptions, and recover more efficiently.
In response to these challenges, the leaders must rethink their supplychain strategies, focusing on building resilience. Enroll in the Full Course offered by our expert Vera Rozanova on SupplyChainResilience!
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. Ongoing geopolitical instability and potential trade shifts, especially with the changing US administration, make supply continuity a critical concern.
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. While supplychain is addressed, its secondary to procurement excellence, making it a top pick for procurement specialists seeking practical tools.
However, they are also susceptible to disruptions and risks. Enhancing supplychainresilience as well as supplychain visibility is crucial in today’s interconnected world. SupplyChainResilience refers to a supplychain’s ability to withstand and recover from unexpected events.
The pandemic has taught us supplychain professionals a precious lesson in supplychainriskmanagement. The pandemic has put to the test, flexibility, adaptability, and resilience of supplychains. It exposed weak links in production strategies and supplychains of organizations.
Click here to enquire and check for their upcoming events, especially the 6th Annual Chief Procurement Officers Summit 2023. If you wish to go to this forum, then click here to enquire about the event. However, the pre-event begins in the afternoon of February 6. . SupplyChain USA 2023. Riskmanagement.
This underscores the need for different procurement strategies, riskmanagement, and technology solutions for indirect MRO spend versus direct materials 3 5. Promotional and Seasonal Effects: Prices can drop temporarily during major sales events (e.g., Prime Day, Black Friday), only to rebound sharply afterward 3.
Many procurement teams are being asked to deliver value beyond savings alone , strengthening supplychainresilience, reducing compliance risk, and advancing ESG and sustainability goals, at greater speed and without headcount increases. On the demand side, there is pressure to do more with less.
Key Challenges in Manufacturing SupplyChains and Solutions The world is currently going through an era of unprecedented challenges in supplychainmanagement. Extreme weather events (hurricanes, floods, wildfires) increasingly impact logistics and production. geopolitical risks and extreme weather).
How better management in AP can give you better flexibility for cash flow management. Common disruptions such as economic instability, vendor delays, natural disasters, and supply shortages uniquely challenge schools due to tight budgets and rigid schedules.
Continuous Improvement & RiskManagement Analytics helps make continuous improvement easier by providing businesses with data-driven insights. These insights can help identify bottlenecks, areas that need optimization and can detect inefficiencies in the supplychain. Download from the below link.
Total lifetime cost of operation for physical assets Riskmanagement and supplychainresilience, and how it can actually translate into savings rather than cost increases. ** Protcocast is a part of the Proctopus network. Join our Proctopus LinkedIn Group here! No acronyms! No acronyms!
Join us as we dissect the key takeaways from this engaging discussion and uncover the latest trends shaping the future of supplychainmanagement. SupplyChainResilience: Lessons from the Miracle on the Hudson In the fast-paced world of supplychainmanagement, the concept of resilience has never been more crucial.
Zycus recently conducted a virtual event for CPOs, Procurement Leadership Agenda and Narratives (PLAN 2023), where we invited industry experts and procurement thought leaders across the Europe to discuss the upcoming technology trends and procurement strategies for 2023.
Procurement Best Practices To maximize the value of procurement, organizations should follow certain best practices around ethics, sustainability, riskmanagement, and cost savings. Conduct supplychain audits and due diligence on high-risk categories. Dual sourcing and supplychain digitization can help.
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The best thing you can do is focus on a plan to tackle the internal factors – having others on the project who can step up in the event of someone’s unforeseen absence.
Stakeholders should understand that amalgamating SIM with various management systems and ERP software offers a range of additional benefits. When risks are identified and mitigated at the earliest opportunity, organizations can ensure that their reputation is not impacted and any financial ramifications are avoided.
Both groups hold procurement events, councils, and annual automotive conferences with insightful discussions on a wide range of topics. Join Automotive Industry Groups A great option to stay up to date on the latest automotive trends is to consider joining an industry group or two.
Risk Mitigation SCM minimizes supplychainrisks through careful planning and collaboration. It reduces vulnerabilities and exposure to events like natural disasters, geopolitical changes, and cyberattacks. Proactive riskmanagement prevents major losses.
The more competitively-priced e-sourcing and e-auction software aims to improve user experience and simplify the more operational side of running sourcing events. The software automates repetitive tasks like demand gathering, creating sourcing events, and analysing supplier responses, freeing up valuable team bandwidth.
This highlights the vulnerability of supplychains to even seemingly localized weather events. This overreliance on a single geographic region for a critical ingredient underscores the potential for severe supplychain disruptions.
In our ever-increasingly connected world and the “hyper-globalized” supplychains that keep it running, a natural disaster tends to have widespread effects well beyond ground zero. As natural disasters are increasing in frequency and magnitude, the implications for supplychainriskmanagement can be overwhelming.
Proactive RiskManagement: Digital spend analysis provides enhanced visibility into supplier performance, allowing organizations to identify and mitigate potential risks. By detecting and mitigating risks in real-time, digital spend analysis contributes to stronger governance and riskmanagement practices.
Many nations are now facing the prospect of new lockdowns which will undoubtedly further impact global supplychains. . SupplyChainRiskManagement on the World Stage – Lessons Learned. SupplyChainResilience vs Low-Cost SupplyChain.
“Did you ever think we’d be talking this much about supplychains?” – President Biden On Monday, November 27, 2023, The post The White House Council on SupplyChainResilience appeared first on Art of Procurement.
According to mixmov.io , “Supplychainresilience is a supplychain’s ability to be prepared for unexpected riskevents. “ SAP insights states that “a resilientsupplychain is defined by its capacity for resistance and recovery. control towers).
To combat these issues, health and pharma need supplychain visibility—all the way down the supplychain. According to McKinsey , companies can minimize supplychain disruption through “greater visibility, rigorous riskmanagement, and newer technologies that help companies better anticipate and respond to shocks.”.
Headings: Market Overview: The SupplyChainRiskManagement market is set to experience ample growth from 2025 to 2032. Companies are increasingly looking to invest in technologies that offer real-time monitoring, predictive analytics, and supplychain visibility.
Moreover, the digital transformation of supplychains is accelerating, with technologies such as AI, IoT, and blockchain revolutionizing operations and enhancing efficiency. Embracing technological advancements such as blockchain, AI, and IoT will be instrumental in enhancing visibility and transparency across the supplychain.
One strategy to address this issue is diversifying sourcing locations to reduce reliance on a single origin, especially in regions where political instability or weather events can disrupt supply. Technology Integration: Utilize supplychainmanagement tools and technologies to enhance visibility and optimize operations.
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 supplychainresilience.
It covers fundamental concepts, core supplychain functions, and advanced topics that include: SupplyChain Analytics SupplyChainRiskManagement Sustainable SupplyChainManagement Global SupplyChainManagement Moreover, it’s important to note that the topics covered in a CSCMP certification may vary depending on the topic level and format.
We organize all of the trending information in your field so you don't have to. Join 69,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content