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In February, Klaus Niebur, the director of global supply chain riskmanagement at Autoliv, and Jan Thiessen, the managing director at targetP!, spoke on best practices on supply chain riskmanagement at ARC Advisory Group’s Digital Transformation in Industry conference.
Supply Chain RiskManagement Solution from riskmethods. If I was asked to vote for the most interesting solution set that has come to the fore over the last few years, my vote would be for supply chain riskmanagement solutions. Supply Chain RiskManagement Vendors. AGCO Stayed Nimble during the Pandemic.
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. Click here!
Procurement People should learn the Sales & Operations Planning (S&OP) Process. Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supply chain dynamics, identifying potential risks, and optimizing sourcing strategies.
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, riskmanagement, and cost reduction.
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. Functional Metrics and the Lack of Alignment to Strategy. The Lovefest with Shiny Objects.
Adopt a Holistic Direct Spend strategy Move beyond isolated tactics and adopt a holistic, approach to direct spend that integrates sourcing, contract management, procurement and invoicing. This means involving procurement in the highest levels of strategic planning and decision-making.
BSR Releases Their Future of Supply Chains 2025 Outlook The Future of Supply Chains 2025 primer by BSR outlines key procurement priorities and forces of change that will shape supply chains. It emphasizes the importance of cost savings, supply base rationalization, riskmanagement, strategic foresight, and supplier collaboration.
That’s when it all gets extremely complicated, but one thing remains crystal clear: supply chain riskmanagement is profoundly important for businesses to grow and expand. The same source also informed that the Chartered Institute of Procurement & Supply (CIPS) Risk Index of 2016 was the highest since records have begun in 1995.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and riskmanagement. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
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.
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. Further, it is essential that supplier management and data is holistic (i.e.,
Like every industry Procurement & Supply Chain software 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. The May 5 th programme is open to everyone, while the 6 th is limited to current Ivalua customers. .
Direct Procurement : Milk is collected directly from farmers at the village level. Amul has also implemented a Geographical Information System (GIS) at both ends of the supply chain (milk procurement and marketing). This empowers them to have a stake in the business and share profits. through net-enabled kiosks in the villages.
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.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Want to future-proof your procurement function?
Riskmanagement, cost reduction and digital transformation — these are the three top priorities for procurement organisations in the Middle East today, according to a global survey conducted by Ivalua’s global partner PwC. Strategic Investments Target Risk Reduction. On average, companies in this region plan to invest $1.5
Thirdly, all the COVID supply disruptions brought home the need for better supply chain riskmanagement. Riskmanagement had been a hard sale. Companies typically embrace improved supply chain riskmanagement after a disaster – after the horse had already fled the burning barn. They are not.
RiskManagement in Global Ocean Context Feature Article by LSCMS Shippers Council Rates have gone down massively in most trade lanes; congestion has eased, and capacity seems sufficient in most sectors. It appears that operational and procurementrisks for beneficial cargo owners or shippers, in the short term, are minimal.
Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.
Supply chain management and procurement sit poised on the frontlines of managing global supply risks for their brands. From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. Understanding Supplier RiskManagement. Proactive riskmanagement.
In an era where digital transformation is reshaping industries, government procurement is no exception. Advanced technologies such as AI, automation, and predictive analytics are playing a pivotal role in optimizing procurement processes, enhancing transparency, and driving efficiency.
Risks in halal supply chains The halal integrity of a brand (and its products) is a function of its supply chain, where a breakage in halal integrity anywhere in a supply chain becomes a breakage of its halal integrity. Halal riskmanagement is essential for trust in halal certified brands.
Modern procurement professionals need to be among some of the most highly skilled workers in any organization, and we want to help you identify exactly what essential procurement skills you need to lead your team as the industry continues to grow and evolve. Ethical sourcing is a huge part of this.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
How is AI changing supply chain riskmanagement , and what does it mean for the future? Arjun Mehta: How is AI impacting supply chain riskmanagement? Brandon Daniels: One of the things that generative AI is doing is it’s making it so procurement and supply chain people are able to bridge a skills gap.
Supply chain and procurement have undergone a seismic change in recent years. The Need for Supply Chain and Procurement Upskilling The global supply chain and procurement markets have changed drastically in the last number of years. There are also strong benefits to upskilling for your employees too.
. … The truly biggest risks and threats — to the global economy, to businesses, and to supply chains — are the ones you’re unaware of and not accounting for in the first place. When it comes to riskmanagement, assessing the likelihood of various outcomes, and preparing accordingly, is vital. But what’s even more vital?
Ever since COVID hit, supply chain executives have embraced supply chain riskmanagement. Kevin Nelson, a chief procurement officer and senior vice president at BD, agreed to be interviewed on this topic. BD, was using a supply chain riskmanagement solution. The Benefits of Robust Supply Chain RiskManagement.
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.
Herculean efforts by Procurement and Supply Chain departments to keep supplies flowing have prevented even more extreme disruptions than what we’ve experienced, but have inadvertently created additional risks. . Procurement and supply chain teams need to continue building the analytical skills of their teams.
Tightening the Alignment between Procurement and Corporate Leaders . Using procurement as a catalyst for change . In a recent webinar with PricewaterhouseCoopers (PwC), we compared 3 different global studies where Procurement and C-level Management stakeholders addressed digitalization, risk, and ESG. .
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. These include riskmanagement and resilience in a volatile world.
This month Gartner published its eagerly awaited Magic Quadrant for Procure-to-Pay (P2P) Suites , ranking the top 14 vendors based on ability to execute and completeness of vision. This year’s edition comes at an interesting time, with the Covid-19 pandemic having shifted Procurement priorities and employee working practices.
You have a supply chain riskmanagement strategy in place. A few hours later, your procurement head walks in the office. “We The problem is most companies are relatively immature when it comes to Supply Chain RiskManagement. There is a natural conflict between risk mitigation and supply chain efficiency.
” There are, however, some well-known dragons supply chain riskmanagers will continue to encounter. The CNW Group reports, “Three quarters of businesses worldwide are overhauling their supply chains by working with more rather than fewer suppliers to mitigate risks in an increasingly fragmented global environment.
In this blog, we explore the different types of predictive AI models for supply chain riskmanagement. Currently, Resilinc uses several predictive AI models in tracking purchase orders (POs) and commodities, autonomous mapping, risk-scoring models, and simulators. Welcome to part three of our AI in Supply Chain blog series.
Learn the best practices for supply chain riskmanagement in 2024 from Resilinc, the gold standard for supply chain resiliency. As riskmanagers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supply chain practices. Out with the old and in with the new!
They integrate finance, HR, sales, and supply chain management into one complex platform. 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.
Standardizing materials across multiple products can enable greater flexibility in supplier selection and procurement. Companies should aim to build flexibility into their recipes and product designs, allowing them to adapt sourcing based on shifting trade policies without compromising quality or compliance.
A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react.
Learn how implementing an Enterprise RiskManagement framework can help your company on the journey to operational resilience. Businesses have started to see riskmanagement as a necessary facet of running a successful company. market size for riskmanagement was valued at $0.44 In 2022, the U.S.
Do you dream of confidently navigating the ever-changing procurement world, not confused with what procurement training to opt for? The SCMDOJO Procurement Track isn’t just another training program – it’s your key to unlocking a commanding presence in the field. Dive in and discover the power within!
Strong vendor relationships are critical for business success, especially when it comes to managing inventory and procurement. Vendor Relationship Management (VRM) helps businesses manage supplier interactions, track performance, and ensure smooth procurement processes.
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