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Like every industry Procurement & SupplyChainsoftware vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. Ivalua’s events have been consistently strong for several years now. Crazy, wasn’t it! .
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!
Consider this your business suddenly faces a major supplychain disruption. But the truth is, a fragile supplychain can make or break your companys success in today’s world. But the truth is, a fragile supplychain can make or break your companys success in today’s world.
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.
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.)
American manufacturers are adapting to significant modulation in the nature of their supplychains as market forces and current global events promote operating “closer to home”. Transportation logistics softwaresolutions play a key role in effectuating this change. This strategy is not without its risks though.
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.
“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.
The momentum around this ‘best practice’ has been further accelerated by the marketing efforts of market intelligence companies selling data and even a few purpose-built software platforms to make these efforts more efficient and accurate. supplier count, event size).
Technology Adoption in Early Stages : Adoption of procurement software was growing but not yet widespread, with many organizations relying on manual or semi-automated processes. Procurement is no longer judged solely on cost savings but also on metrics like risk mitigation, supplier diversity, and innovation impact.
But what steps can you take to a more resilient supplychain during disruptions? If you’re ready to learn more about creating stronger supplychains, read below. As more industries face ransomware attacks, it’s a good idea for any supplychain company to hire cyber experts to prevent disruptions.
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. Khuat-Duy also noted that Ivalua was profitable in 2023.
Modern Spend Management and Accounts Payable software. How better management in AP can give you better flexibility for cash flow management. Tools like PLANERGY enhance supplychain resilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers.
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.
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.
The interconnected nature of business networks, their systems and their data leaves suppliers and the primary organization open to threats and attacks that broadly fall under the category of supplychain cyber risk. Find our in-depth guide to third-party and supplychainriskmanagement with accompanying free download here.
This content does not express the views or opinions of Spend Matters In our previous installment on Spend Matters, we discussed the rapid evolution of SupplyChainRiskManagement happening within procurement organizations. And so it should.
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.
However, as supplychains have evolved into complex, global systems, the demands on procurement, and associated workload have increased significantly. Businesses must now navigate sustainability, riskmanagement, and total cost of ownership (TCO)—which now are shifting more spend into the “defer” or “ignore” buckets.
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. Since reverse auctions focus heavily on price competitiveness, this can be easily done with sourcing software tools.
Table of Contents What is supplier riskmanagement? What are the benefits of supplier riskmanagement? What is supplier riskmanagement? It should be considered an essential part of an organization’s wider riskmanagement strategy. What are the benefits of supplier riskmanagement?
Strategic sourcing: Adopting strategic sourcing practices enables procurement to analyze the entire supplychain and identify cost drivers. Supplier collaboration: Engage in collaborative discussions with suppliers to explore ways to manage and mitigate inflationary pressures together.
Pere Sivecas , Spend Matters Development PM and Software Architect, has compiled a four-part video series that covers the basics you need to know, the first two of which are free while parts three and four require a basic Insider subscription.
Here, we’ll discuss how it becomes useful for SCMs and what are some blockchain supplychain examples. Understanding SupplyChain The production industry uses a variety of procedures to serve its consumers through the market; all these activities can be covered under one umbrella term: supplychain.
Subscribe to SupplyChain Game Changer. Quantum Leap to the Top 10 SupplyChain Skills of the Future! The phrase “SupplyChainManagement” was originally coined by Keith Oliver in 1982 and subsequently gained increasing popularity as its usage was proliferated in books and language.
For businesses to succeed, supplychain optimization is essential to succeed. Supplychain optimization 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.
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.
Change is inevitable in modern supplychainmanagement, and riskmanagement is essential to success. Risks evolve and become more prevalent with time. Riskmanagement strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks.
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.
Broken supplychains, unavailability of heavy goods vehicle (HGV) drivers and production stoppages had a negative impact. It made several manufacturers realize the need to focus on Risk Mitigation strategies to re-imagine their supplychains. SupplyChainRisk Assessment – Ground Reality.
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? You’ve got to have a riskmanagement plan, but if you don’t test it, how do you know it works?”
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. Manage When it comes to managingrisk, we recommend the TAME framework.
Hot Digital Procurement and SupplyChain Startups in the ESG and RiskManagement Space. On this episode, we’re looking at startups whose mission is solving problems in the rapidly growing and increasingly important ESG and RiskManagement area. Potential scandals, force majeure events, natural disasters.
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. The best way to minimize disruption is to identify the various supplier risks and create a plan of action for what to do if the risk becomes a reality. This can also include economic instability.
This week we're talking about supplychains. More specifically, where does the line lie between procurement and supplychain? Should we be concentrating on better understanding our multi-tiered complex chains, rather than just purchasing software to better track and trace shipments? He says yes, definitely.
The effective management of supplychains is critical to business operations and by adopting newer digital solutions, organizations can benefit from improved efficiency, reduced costs and operational improvements across the supplychain as a whole. The result is a more synchronized and agile supplychain.
If you want to search the whole range of procurement tech companies out there beyond just startups, then check our our free software directory. Key Data: Founder / CEO: Tom Howsam Date Founded: 2018 Visit Paid profile in our Software Finder 2. Their solution focuses on procurement project collaboration.
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.
He heads up the resilience lab at Interos , an enterprise riskmanagementsoftwaresolution. I’m in charge of research and using our databases to give rapid responses to topical events and disruptions to supplychains that are happening around the world. Today’s interview is Geraint John.
During the event, CEO Leagh Turner touched on how Coupa intends to address the ever-growing complexity of business, Executive Vice President and Chief Product Officer Fang Chang unveiled a series of announcements. Coming up in Q3 Looking beyond Q2 and into Q3, Insider members can expect the steady stream of Vendor Analyses to continue.
What is SupplyChainManagement (SCM) SupplyChainManagement (SCM) is the management of the flow of goods, services, information and finances as they move from raw materials to final product, from manufacturer to consumer. Optimized supplychains lead to improved profit margins.
Tech newcomers to PSI and Spend Matters FISCAL We met David Griffiths, CEO of FISCAL , a P2P riskmanagementsolution offering fraud forensics and SaaS risksoftware. A questionnaire is one method to capture priorities that can be boiled down to Risk/Security, Ethics, EDI, Community and Carbon.
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