article thumbnail

What does the German Supply Chain Act Mean for Procurement?

ivalua

In compliance with the Act, companies are required to implement a supply chain management system that adequately identifies and mitigates risks, conducts reporting and creates remediation mechanisms. These organizations must also conduct regular supply chain audits to ensure sustainable and responsible operating measures. .

article thumbnail

80% of UK businesses say Brexit caused the biggest supply chain disruption in the last 12 months

ivalua

Supply continuity has been left on life support after repeated blockages and restarts, resulting in supplier failure and organisations struggling to onboard new suppliers to kick-start supply. With supply chains being shocked at shrinking intervals, organisations must work to future-proof supply chains.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Agentic AI in Supply Chains: The Future of Decision Making

SCMDOJO

This leap in AI capabilities is revolutionizing industries, and AI-driven supply chain management is no exception. These AI agents leverage real-time data, predictive analytics, and generative AI to enhance resilience, reduce costs, and improve overall efficiency in AI-driven supply chain resilience.

article thumbnail

Friends not Foes, Supplier Relationships Made to Last

ivalua

A company’s supply chain is a key source of competitive advantage and Supply Chain Management (SCM) is designed to allow a company to monitor its suppliers and utilize the available resources to improve performance. But most sourcing and procurement teams need to pivot and modify the way they handle SCM decisions.

Suppliers 246
article thumbnail

Procurement transformation 2025: Why invest in procuretech and how to make the case – Prewave

Spend Matters

For example, finance teams are mostly conscious of ROI, TCO reductions and cost savings metrics, while risk and compliance teams want to see data that demonstrates improved compliance rates and reduced risk exposure. Procurement teams are generally more interested in how the software is used.

article thumbnail

Charting a Sustainable Path Together: Nine Tips for Engaging Procurement Teams in Your Sustainability Journey

SupplyShift

Sustainability and responsible sourcing professionals often face the challenge of engaging their procurement teams in sustainability initiatives. With procurement professionals managing a significant portion of company revenue, they play a crucial role in supply chain sustainability.

article thumbnail

Supply Chain Innovation and the Catalyst for Business Growth

All Things Supply Chain

Procurement teams have a growing responsibility within organisations. Cost and quality will always play a huge part across the function (for both direct and indirect categories) but creating value and…