article thumbnail

3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation

ivalua

Ivalua Spend Management Insights [ivory-search] 3 Powerful Ways Procurement will Drive the 2030 Saudi Vision Transformation May 30, 2023 | | Procurement Strategy by Sara Omer What is the Saudi Vision 2030 Program? Procurement and supply chain teams will play a crucial role in making this vision a reality.

article thumbnail

Freight Procurement is a Different Game

Logistics Viewpoints

Procuring transportation for freight is much different than any other procurement category. There are different tools, goals, and market dynamics. Transportation procurement needs to support both customer service and a company’s internal supply chain goals. One master of freight procurement is Kyle Masters.

Insiders

Sign Up for our Newsletter

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

article thumbnail

What does the German Supply Chain Act Mean for Procurement?

ivalua

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. Fines of up to €8 million .

article thumbnail

86% of UK businesses face barriers developing digital skills in procurement

ivalua

A shortage of digitally savvy talent, and a lack of training for technical and soft skills, hinder digital procurement initiatives. Additionally, over half (55%) of UK businesses say that digital skills in procurement are less advanced compared to other departments. Challenges in hiring digital skills in procurement.

article thumbnail

7 Leadership Themes for Procurement & Supply Chain Leaders in 2024

Procurement and supply chain leaders are presented with their fair share of challenges, with a host of tools and strategies to resolve them. That said, what’s the best path forward to leverage this year’s trends?

article thumbnail

The One Key Shift in Your Supply Chain and Procurement Strategies that can Drive Better Business Continuity and Resilience

Logistics Viewpoints

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.

article thumbnail

Online Procurement System: Guide to Choosing the Right Tool

Precoro

Procurement operations are no exception. In fact, 43% of GPOs that took part in the 2023 Global Chief Procurement Officer Survey cited overall procurement risk had increased significantly as compared to 20% in the 2021 study. Keep reading to learn: What is an online procurement system? Let’s break them down.

article thumbnail

3 Essential Supply Chain Tools to Combat Inflation

But investing in supply chain and procurement technology will help manage inflationary pressures better. Here are 3 tools that GEP recommends for your company to use. As inflation and geopolitical instability worsen, many companies are going slow on investments.

article thumbnail

Adopting AI Responsibly: Guidelines for Procurement of AI Solutions by the Private Sector

This World Economic Forum-GEP report offers a holistic procurement process and structured framework to select responsible AI tools. As artificial Intelligence (AI) becomes more prevalent, it’s crucial that firms adopt AI technology responsibly. Download the report today.

article thumbnail

Autonomous AI Agents Are the Future of Procurement and Supply Chain Operations

As early as next year, procurement and supply chain operations will begin to adopt AI agents, often called “agentic AI,” to work alongside employees to make and execute decisions with precision across procurement and even the most complex global supply chains.

article thumbnail

Rethinking Direct Materials Sourcing: The Tools You Need To Manage Costs, Risks and Sustainability

Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. While some embrace cutting-edge tools like AI and blockchain for global trade functions, others lag in technology adoption.

article thumbnail

The Transformative Role of Supply-Chain Leaders in Today’s Business

With disruptions looming, procurement and supply chain managers are stepping up their game. This new report from The Economist and GEP explores how procurement and supply chain professionals are responding to shifting business dynamics. What new tools and strategies can help? What new tools and strategies can help?

article thumbnail

GEP Procurement & Supply Chain Tech Trends Report

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?

article thumbnail

Freight Procurement Simplified: Bids from Hours to Minutes

Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski

Procuring freight can be cumbersome, time-consuming, and error-prone. Join this exclusive webinar with experts from Uber Freight to learn how the latest digital tools and automation can transform your freight procurement strategy by streamlining bid processes and more!

article thumbnail

The Pandemic Crisis Management Handbook for Procurement Managers

At these uncertain times, the c-suite alone cannot prepare an organization for this pandemic, there is much that procurement leaders can do to lessen the impact.