Remove Purchasing Remove Risk management Remove Supply Chain Visibility
article thumbnail

Navigating the Top 3 Procurement Challenges in 2025

Jaggaer

However, simply cutting costs isnt a sustainable strategy CPOs must move beyond tactical price reductions and embrace strategic cost management. Solutions: Strategic Sourcing: Move beyond transactional purchasing and embrace strategic sourcing. Maintaining revenue and profitability depends on a resilient and adaptable supply chain.

article thumbnail

The Importance of Supply Chain Visibility for Procurement

NLPA (Next Level Purchasing Association)

Supply chain visibility is essential for successful procurement, as it enables businesses to proactively manage risks and optimize their supply chain. By having a clear view of their entire supply chain, businesses can identify potential issues and take steps to mitigate them.

professionals

Sign Up for our Newsletter

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

article thumbnail

Weathering Future Disruptions: 8 Steps to Building Supply Chain Resilience

ivalua

As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier risk management are essential components to maintain stability during crises like these. But building an agile, resilient supply chain doesn’t happen overnight; it requires forethought and planning.

article thumbnail

ERP vs. Best-in-Class — What is Best for Managing the Healthcare Supply Chain

ivalua

Are ERP systems better than best-in-class supply chain solutions for managing healthcare supply chains? What are the pros and cons, and what supply chain strategy will pave the way to higher margins, improved supply chain risk management in healthcare and improved patient care?

article thumbnail

Global Supply Chain — Everything About Supply Chain

Procurement Tactics

This intricacy stems from factors such as geographical distance, cultural differences, legal compliance, supply chain visibility challenges, and the impact of political and economic instability. Successfully managing these complexities requires robust strategies and effective risk management measures.

article thumbnail

Supply Chain at a Crossroads – Back to the Shadows or into the Spotlight?

Supply Chain Game Changer

For far too long Supply Chain has not got the respect that it deserves. There are many reasons for this lack of due consideration: Many Supply Chain operations, like manufacturing, purchasing, warehousing, and logistics are hands on, blue collar type jobs. Risk management is real.

article thumbnail

The Reality of Automation in Procurement!

Supply Chain Game Changer

It helps bring predictability to Strategic Sourcing, automates Transactional Procurement (or P2P cycle), and enables proactive Supplier Risk Management. Direct purchase requests from employees are possible with varying levels of auto-approval. Risk management. Benefits of Procurement Automation. Cost Saving.