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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 supplychain management lessons to learn from the Covid-19 crisis.
In our recap, we’ll dive into the key takeaways from the event and what they mean for the industry. They asked, what can organizations do to optimize their strategic sourcing processes? Automating strategic sourcing not only simplifies the process but also offers significant savings, increased efficiencies, and better governance.
Many businesses go to market for solution support within supplier management with ESG/Corporate sustainability as a primary compelling event, or driving factor. Customer requirements on more sustainable products/services, and/or requests for supplychain transparency/due diligence.
Join us as we delve into the world of GTF2025, where resilience meets innovation, and the sky is no longer the limit. Heading 1: Advancing Global SupplyChainResilience Through GTF2025 Initiative In the pursuit of advancing global supplychainresilience,the GTF2025 initiative is poised to revolutionize the aviation industry.
Yet despite the availability of new platforms and analytics tools, supplychain risk management strategies remain in their infancy post-pandemic. The study also found that suppliers will be vital for successfully ensuring supply continuity. Markus Leutert, Senior Director, Corporate Communications. media@ivalua.com.
The appetite for third-party risk management (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.)
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.
Goods arrived exactly when needed, waste and holding costs were kept to a minimum, and single source strategies prevailed due to ease and cost savings. Then, 2020 sent shockwaves through many JIT strategies; the disruption was just too big to absorb and supplychain ecosystems had not been built to flex.
This is especially true as many manufacturing procurement departments struggle with exactitude, efficiency, and unforeseen events that keep them from meeting their goals. This process ultimately leads to faster delivery times, more significant cost savings, and improved supplychainresilience.
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 risk management. Analytics and insights from procurement data were minimal.
We are quickly approaching JAGGAER’s flagship event REV2025 in Miami , and I am thrilled that so many of you have registered and plan to attend. This year’s event promises to be our best yet, with exceptional speakers, networking opportunities, and of course, these newly announced customer awards.
Procurement Agility: According to Sawchcuk, agility defines your capability as an organization to react to any event. From a risk standpoint, you must be able to react in a way that prevents the event from having a material impact on the business,” he said. But there’s also a need for predictive capabilities.
Key Takeaways from the Institute for Supply Management news Amidst the latest developments in the world of supplychain, one significant event that caught the attention of many was the resolution of the Boeing machinists’ strike.
This resilience can be defined as “ the ability of a central procurement and supply management function to prepare for unexpected events, respond to disruptions, recover, and emerge even stronger. ” Manufacturers cannot foresee every risk, inconvenience, or disaster, but they can equip themselves to handle the unexpected and come out on top.
However, the top three procurement challenges featured in the Hackett Group report demand immediate attention: slashing spending costs, securing supplychainresilience, and modernizing outdated operating models. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing.
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. But the benefits go further.
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 accelerated this trend, with the Procurement function front and center in the fight to ensure supplychainresilience and continuity, reduce costs and protect the bottom line. There’s a much bigger dividend to obtain by automating the most boring, mundane tasks of your top sourcing professionals.” .
In addition, the shortages experienced within the supplychain in the last two years are likely to be dealt with in the near future, albeit that consumer demand for certain goods and services has also slowed, the news source said. Brought to you by the StrategicSourceror.
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. Supplychain operations.
Demand Surges and Cycles: Events like the end of Windows 10 support (2025), the post-pandemic PC refresh cycle, and spikes in demand for AI-enabled devices all create waves of buying that drive prices up, sometimes by double digits in a matter of weeks or months 6. SupplyChain Disruption : “Material costs climbed by about 8.3
The global supplychain is undergoing an incredible transformation that will change the way we do business. Today, organizations are looking to build supplychainresilience and maximize opportunities for growth as we pivot and prepare for unexpected global events. . Körber + Ivalua.
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.
Shoring up staff is a good way to increase supplychainresiliency, which companies are trying to do more of today to ensure theirs has what it takes to stay together when it's taxed in the future. Brought to you by the StrategicSourceror.
Common disruptions such as economic instability, vendor delays, natural disasters, and supply shortages uniquely challenge schools due to tight budgets and rigid schedules. Tools like PLANERGY enhance supplychainresilience by providing real-time tracking, data-driven insights, and streamlined communication with suppliers.
In fact, 89% of businesses encountered a supplier risk event in the last five years. That’s where supplychain risk management software comes in. Nearly 53% of executives reported that the cost of these events had increased over the previous three years, with 13% claiming a significant increase.
This year, our analysts identified three solution providers that have proven their potential to be considered best-in-class, one of which is source-to-pay suite provider Onventis. The focal point of our efforts remains source-to-pay automation, particularly in operational and tactical areas.
Effective supplier risk management involves staying informed about global events and their potential impact on your suppliers. Events such as hurricanes or floods can halt production and logistics, while stricter environmental laws can require suppliers to make costly adjustments.
The fluctuating economic landscape has forced many procurement departments to reassess and diversify their sourcing strategies to maintain supplychainresilience. While the hurdles appear formidable, this report outlines what well-prepared procurement teams stand to benefit in this environment.
Federal and global regulations are forcing manufacturers to make fundamental changes in the way they source materials, use energy, and more. SupplyChainResilience The pandemic highlighted the importance of supplychainresilience. Conduct risk assessments. Increase real-time visibility.
Today, we are seeing significant digital disruption in the business of trade and supplychain financing that is largely influenced by global events and geopolitics, changing regulations, compliance and control requirements, advancements in technology and innovation, and access to capital.
Supplychainresilience and innovation to quickly respond to market disruption are more critical than ever amidst ongoing regulatory changes and geopolitical tensions. If you work in supplychain then you know that as long as theyve been around, theyve traditionally been used as a way to protect domestic industries.
Highlighting 25 innovative European-based procurement startups, the episode provides valuable insights into emerging players who don't necessarily have the marketing presence and events budget of larger companies. We explore: Apadua offers AI-powered sourcing solutions for professional services.
The challenge will be to make the supplychainresilient, better manage supplier risks without lowering profitability, and competitive advantage. When your supplier relations and supplychain grow globally, the complexity and the variables companies would need to monitor increase multifold. Source : [link] ).
This year, supplychain disruptions have posed significant obstacles for small business owners. From global events to the ongoing impacts of the pandemic, these challenges have forced businesses to adapt and find new strategies to navigate through uncertain times.
Another example is the requirement supporting localized sourcing content from the USMCA (United States-Mexico-Canada Trade Agreement). Overall, procurement has seen more requirements around tracking raw materials and origin throughout the supplychain. As the adage goes, necessity is the mother of invention.
Sourcing Easy to use, e-sourcing RFP / RFQ tool with modern interface. Niche Category Specific Numerous category specific software, ranging from freight tendering platforms, through to print and promotional items, professional services sourcing, to MRO and spare parts management.
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.
It reduces vulnerabilities and exposure to events like natural disasters, geopolitical changes, and cyberattacks. Sustainability SCM plays a key role in corporate sustainability initiatives by reducing carbon emissions in transportation and promoting ethical sourcing. Accurate demand forecasts enable effective supplychain planning.
This may involve adjusting order quantities, prioritizing certain shipments, or sourcing products from alternative suppliers who can deliver via different transport modes. This would be particularly impactful during key sales periods, such as the holiday season or major events.
How strategic sourcing, cost management, and cost avoidance strategies can be applied to indirect spend. Source what you can from reclamation centers and use recycling whenever possible. To avoid shortages, conduct supplychain risk assessments regularly. How to gain visibility and control of your indirect spend.
Data Integration and Visibility: Connecting disparate data sources, such as procurement systems, supplier databases, and financial records, to create a centralized and holistic view of procurement activities. This enables better analysis, identification of trends, and informed decision-making.
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