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Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Think of them as apples and gearseach essential and effective on its own, yet when combined; they create a formidable mechanism for achieving procurement excellence.
Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.
Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.
One of the alignment gaps that is growing and is unfortunate is the gap between procurement and manufacturing. This gap of 48% between manufacturing and procurement is the highest seen in studies across the decade. The metrics defining success in manufacturing and procurement do not align. So, you might say, so what Lora?
And for procurement and supply chain leaders looking to harness the power of technology to navigate complex challenges and an uncertain business environment, keeping up with the latest trends can be its own obstacle. So, what’s on the technological horizon for procurement and supply chain for the year ahead?
Looking to improve operations and achieve cost savings within your procurement processes? Perhaps you already have a process audit report, or are interested in discovering how it could benefit you and streamline your operations. What is the Purpose of a Process Audit Report?
Process-based companies continue to focus on manufacturing efficiency (OEE) and discrete on procurement (PPV) without designing the supply chain to balance transportation, manufacturing, and procurement to a balanced scorecard. These two reports are coming soon. Functional Metrics and the Lack of Alignment to Strategy.
In a previous post , I made a case for how the Chief Supply Chain Officer (CSCO) and Chief Procurement Officer (CPO) are smarter together. Accordingly Supply Chain and Procurement will need continuous collaboration. By aligning supply chain and procurement, spend can be considered more holistically.
What Lieferkettengesetz Means for Procurement? The act was established to address issues of sustainability and ethical conduct in global supply chains, and has significant implications for companies and procurement organizations operating in Germany. By Jan-Hendrik Sohn. Export and import of certain hazardous wastes.
Uncertainty is looming and the challenges supply chain and procurement leaders have been facing since the pandemic are unlikely to end in 2023. Read the GEP Outlook 2023 report to navigate what lies ahead. What do leaders need to know?
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
Ivalua study finds 97% of procurement leaders see significant disruption in direct materials supply chain; 67% not confident in existing technology; 84% consider modernization a ‘strategic priority’. A full 84% of procurement leaders agree that dealing with supply chain disruptions has been their biggest career challenge to-date.
REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement. on time payments) and spend visibility.
Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities This supply chain article provides a comprehensive overview of the procurement department within an organization. Read In Detail About Procurement Department Here 2.
Procurement leaders are at a pivotal moment. Download The 2025 Annual ProcureCon CPO Report to uncover key insights to thrive in a dynamic procurement landscape. With CPOs playing an increasingly strategic role, it’s time to leverage innovation and technology to drive resilience and efficiency.
Opportunities for Procurement Technology As we look toward 2025, European businesses are reshaping their supply chains to navigate an increasingly complex global landscape. A recent report by Maersk and Reuters Events highlights that 68% of companies are making supply chain visibility and monitoring solutions a top priority.
The buyers dont report to Mr. Gainsford. But the chief procurement officer has been made aware of the 10% of suppliers not participating. He painstakingly spoke to each of them to get their buy-in. For material managers, he made the case that they would be much more likely to get their inbound supplies on time. Training is critical.
Informational Technology groups reporting to the Chief Financial Officer. Over the last decade, the CIO’s office reporting structure shifted to report to the CFO. Belief in efficient procurement. Investment in indirect procurement hi-jacked investment in building value networks. Mistake #2. Mistake #5.
Amid a continuing component supply shortfall involving commercial aircraft global supply networks a report indicates that India has become a more attractive source of components. The report observes that Indias commercial air travel market represents the third-largest domestic aviation market by seats. All rights reserved.
This World Economic Forum-GEP report offers a holistic procurement process and structured framework to select responsible AI tools. Download the report today. As artificial Intelligence (AI) becomes more prevalent, it’s crucial that firms adopt AI technology responsibly.
Background In a prior Supply Chain Matters commentary , we provided highlights and observations related to February 2025 production and supply chain activity levels as provided by various global wide and regional PMI index reporting. The reported overall value of 62.8 The reported overall value of 62.8 respectively.
Procurement fraud is often overlooked, but it can tear away at your company’s integrity and reputation from the inside if left unchecked for too long. Proactively identifying and managing procurement fraud is incredibly important when safeguarding your organization’s future. Lets take a look.
Within this setup, an ERP procurement module helps companies make purchases and manage suppliers. Numbers speak louder: According to Procurement Tactics’ top procurement trends in 2025 , 83% of CPOs prioritize digitization. Keep reading to learn: What Is ERP in Procurement?
The discipline has done a good job of driving collaboration between sales and marketing and manufacturing, procurement, and logistics. Because procurement is a major theme of the conference, I could not help but talk to the top executives of this business unit about the new Elon Musk biography.
In 2025, many challenges will persist, but procurement and supply chain teams have a powerful tool with rapidly advancing capabilities to tackle them — artificial intelligence (AI). You name it, and you’ve had to navigate it.
By combining H&Zs sustainability expertise with JAGGAERs advanced procurement technology for Scope 3 emissions tracking and data collection, organizations can better integrate sustainability into their procurement strategies. As companies seek to address these issues, the role of procurement is changing.
The report, which comprised 310 respondents, provides a cross-industry snapshot of the current state of RPA in supply chain, including the likelihood of implementation as well as the benefits and obstacles surrounding RPA deployment. Like any technology, RPA has different levels of penetration across each of these areas.
Supply Chain Matters highlights the final report of the Aviation Supply Chain Integrity Coalition related to the threat of falsified or modified component parts in commercial aircraft supply networks. Recommendations and a final report have now been released. Drug Supply Chain Safety Act (DSCSA). All rights reserved.
Ivalua’s new Environmental Impact Center empowers Procurement and Supply Chain teams with reliable and actionable insight to reduce Scope 3 Greenhouse Gas (GHG) emissions. This data is accessible across Ivalua’s Source-to-Pay solution to facilitate more sustainable procurement decisions within daily operations.
What are the risks for procurement in 2023? Read the GEP Spend Category Outlook 2023 report now to build successful spend management strategies across 22 indirect & direct categories. What should leaders do to deliver value amid uncertainties?
The Approach to Effective Freight Procurement by LSCMS Shippers’ Council Container shipping procurement faces a multitude of challenges shaped by global events, industry shifts, environmental mandates, and technological advancements. At the heart of it all, an effective procurement strategy remains paramount.
Suppliers of low-value, low-risk products and services can be sourced and then managed on standard short-term agreements, with standard measures, monitoring and reporting. Procurement and supply chain teams work together to maintain strong supplier relationships, track performance, and identify opportunities for continuous improvement.
Together, we can offer a complete solution that covers the digital procurement of both spot and contract freight services, across air, ocean, road, and rail. We estimate that tenders account for some 50%-70% of freight procured, at the lower end for air, at the higher end for ocean.
Supply Chain Matters provides highlights and added commentary to this week’s reporting from Kinaxis of Q3-2024 financial performance along with new executive appointments. The post Kinaxis Reports Q3-2024 Financial Performance- New Executive Hires first appeared on The Ferrari Consulting and Research Group / Supply Chain Management.
Procurement and supply chain leaders have faced their share of disruption and economic turmoil these past four years. The GEP Outlook 2024: Procurement & Supply Chain report analyzes global business trends and explores seven vital leadership themes that will equip you to make the most of the year ahead.
I volunteered to write a report on supply visibility. We never published the report. The problem with supplier visibility is bookended into procurement processes that have gone back, not forward over the last decade. Until then, join us for our monthly networking calls, books/reports , podcasts, and blog posts.
In this article, we’ll explain what centralized purchasing is, the challenges it tackles, the benefits of centralized procurement, and the types of companies that can benefit most from it. That’s when a centralized procurement organization structure proves beneficial.
In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. Order cycles–the requested time from order to delivery–decreased while supply cycles –the time to procure materials– increased. Shift in cycles. Over the past three years, supply chain cycles shifted.
This allows the procurement team to quickly identify the lowest or most favorable bid based on cost factors. Historical data and AI-driven insights help optimize decision-making, allowing procurement teams to focus their expertise on more nuanced evaluations like supplier alignment with business strategy and customer service approach.
The procurement and supply chain category management landscape will remain turbulent, with geopolitical tensions, worries over fresh tariffs, rising costs, and supply chain disruptions posing significant challenges. To prepare for all eventualities, grab your copy of the GEP Spend Category Outlook Report 2025.
GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Procurement solutions are often updated with purchased information.
Journalist Sean Galea-Pace reports that conducting end-to-end supply chain risk assessments and prioritizing important focus areas is the first of several suggestions offered by EY analysts to help companies improve their end-to-end supply chain and operations strategy to grow, optimize and protect operations.
Commercial aircraft producer Boeing has formally reported Q4 and full year 2024 financial performance. billion loss including a reported $3 billion in charges related to both commercial aircraft and defense and space business segments. plane maker reported a loss of $11.8 Total quarterly revenues of $15.2 billion in the quarter.
And even before they begin, they must realize these problems are too big for any single team—supply chain must connect with finance and procurement to treat the n-tier suppliers as an extended part of their network and become their preferred customer. For this to happen, finance needs to be in lockstep with procurement.
Download this report, from a GEP-sponsored survey from ISM, to check your performance and see how your peers are reaching their transformation goals. Is your digital transformation working, or is it still a work in progress?
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