Digital Procurement – Pack your bag, you are going on a journey

ivalua

The Hackett Group and Ivalua have been working together for some months to assess the status of Digital Procurement transformation and lessons learned from early adopters. Digital Procurement – a place we are planning to visit soon (and hopefully stay). There is no doubt that Digital Procurement is a reality for many organisations. It’s boring, and it’s so not sexy, but everyone knows that adage, rubbish in, rubbish out and this just as true for Digital Procurement.

Establishing Procurement as a Competitive Advantage

ivalua

In my previous posts, I looked at how to successfully launch a digital transformation and progress to best-in-class Procurement. Procurement was tasked with supporting a board level initiative to accelerate innovation and increase margins. Leaders need to be more ambitious if they are to truly establish Procurement as a source of strategic value. The same applies to Procurement. Alex Saric, CMO, Ivalua.

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7 Tips: A Guide to Mastering Procurement

Material Handling and Logistics

With the digitization of the source-to-pay process being a key initiative for many chief procurement officers, to the inherent automation which promises to accelerate innovations such as artificial intelligence (AI), digitization is growing. However, it is fundamental to empowering procurement success in the modern age. Procurement helps companies adapt, meet new regulatory requirements and shift supply to optimize an evolving tariff landscape.

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Doing business with suppliers located overseas or in another country can be an overwhelming and daunting task even for expert Sourcing professionals. But beyond that he had no idea on where to start to source his product. Large companies can afford to have Strategic Sourcing Procurement staff around the world. This contract needs to be between you and your Sourcing agent and with your suppliers.

Challenges Facing Procurement Leaders

Material Handling and Logistics

From limited visibility beyond their tier-one suppliers to teams that don't have the capabilities to deliver on the strategy, procurement officers have their work cut out for them. A clear vision is a necessity to manage a global supply chain, yet 65% of chief procurement officers report having limited visibility beyond their tier-one suppliers, according to a new survey from Deloitte. There’s no doubt that digital is a game-changer in procurement," said Michael Daher, U.S.

Top 25 Supply Chains of 2018

Material Handling and Logistics

Our look at the Top 25 (plus 4) Supply Chains of 2018 examines how the best companies in the world excel at managing their global supply chains. So in 2018, McDonald’s joins Apple, Procter & Gamble and Amazon on a separate “Masters” list, as one of the “best-of-the-best.”. Source ID. Source ID. Source ID. Source ID. In particular, the company has been criticized for its long-time practice of using local water sources for its products.

30 Supply Chain Leaders Under 30—Class of 2018

Material Handling and Logistics

Although the latest 2018 Salary Survey results found only 2% of the total population of supply chain professionals are in their 20s (the same percentage as in 2017), the gender breakdown of the Millennials recognized in this year's 30 Under 30 program was 18 males / 12 females, for a much more reasonable 3:2 ratio. She has already served in an international procurement management program with Volkswagen and built a procurement department from scratch with Porsche Design.

Show Me the Money: MH&L’s 2018 Salary Survey

Material Handling and Logistics

purchasing/procurement manager with a manufacturer of building equipment with 21-25 years of experience, living in the South Atlantic region and earning $36,00. As the results of the MH&L 2018 Salary Survey indicate, the size of the paycheck has become almost as important. “If Since last year, in fact, the situation has worsened, as the percent of white/Caucasian managers increased from 76% in 2017 to 84% in 2018. Source ID. Source ID. Source ID.

The 3 Pillars of Digital Procurement!

Supply Chain Game Changer

Procurement professionals have the same question looming over their head on a daily basis: “How do you plan on dealing with digitalization?”. Recently I had the pleasure of attending EBG Network’s 8th Annual Source to Pay Summit, which gathered some of the Nordic’s largest organizations and procurement profiles. Regardless of the sheer amount of content one could chose to consume, the theme for the day was apparent and held strong: Digital Procurement.

Procurement Experiences, Trends and the Future!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Where is procurement, outsourcing, sourcing, supply chain, and purchasing going? Secondarily, we will include information from other procurement professionals and procurement firms about their experiences, what they forecast, and what they are seeing. We have worked in hundreds of different industries and spend areas over many years in thousands of procurement projects. Subscribe Here!

Time to Look into the Future of Procurement!

Supply Chain Game Changer

Check out What Exactly Is Procurement? There has been transformation in the Procurement function over the past decade. A typical Purchasing Function is limited to the transactional job of collecting information about the requirements of user departments and carrying out commercial checks and balances to finally procure the product & service based on c ost reduction only and focused on supply continuity. A Paradigm Shift in the Procurement Function. Subscribe Here!

Procurement Outsourcing – Keep your Integrity!

Supply Chain Game Changer

Like so many professionals Procurement people are very proud. But at some point in their careers, especially in the age of Outsourcing, they are likely to have to deal with potential suppliers who provide Procurement services. Procurement typically negotiates deals for other functions like I/T, HR, Manufacturing and every other area in the company. When selling Procurement Outsourcing services you need to have a lot of credibility to begin. Subscribe Here!

Ivalua Paints a Great Procurement Picture at Ivalua NOW Chicago 2019

ivalua

The event was themed on “The Art of Procurement” relating to how the further procurement leaders mature in their transformations, the more their approach shifts from science to art. Just building great Procurement solutions that customers clearly love (in 2018 once again maintaining the industry’s highest retention rate, over 98%). The most eye-catching statistic of the event came from Duncan regarding procurement’s self-assessed v.

Procurement Bots – Transformer or Destroyer?

Supply Chain Game Changer

Check out What Exactly Is Procurement? The last few years have seen a lot of real (and over) hype associated with the emergence of Software Robots (called Bots/Bot) which are disrupting the legacy procurement processes involving human interface. In summary – Bots will have a high appeal on the transactional and digital side of procurement processes and will gain exponential growth in the coming years with the advent of cognitive and machine learning tools. Subscribe Here!

Indirect Procurement – It’s Time to Rise and Shine!

Supply Chain Game Changer

Yet the lack of attention and focus that Indirect Procurement is often given is inconsistent with the true importance of this area. Indirect Procurement takes a back seat to Direct Procurement unfortunately. But it is time for Indirect Procurement to stand up and be counted! The Importance of Indirect Procurement! Indirect Procurement is referred to by many different names. It might be called Non-Production Procurement or MRO for instance.

Procurement – How to Enable Spend Aggregation!

Supply Chain Game Changer

Check out Procurement: The Spend Aggregation Obstacle Course! Aggregating your procurement spend for the purpose of delivering greater value is a sound objective. We discussed these in greater detail in our post Procurement (Part 1!) – The Spend Aggregation Obstacle Course! I have been in the Procurement organization trying to get our arms around spend. This may be the head of Procurement, the CFO, the COO or the CEO. Subscribe Here! Email Address.

Responsible Sourcing! Making Sustainability Happen for Real!

Supply Chain Game Changer

Sustainability is created at the source of our products, services, and consumption. Sustainability is created from Responsible Sourcing. How can you make Responsible Sourcing a Reality? If you can excite the people around you about sourcing responsibly, chances are you’ll be able to formulate a network of internal champions. in this case, responsible sourcing. Source Smarter. Source: Purina. Source: Nestlé. procurement #sourcing #purchasing.

Gartner’s 2018 Top 25 Supply Chains List! Is it Still Relevant?

Supply Chain Game Changer

Gartner recently announced their 2018 Top 25 Supply Chains List. The 2018 Gartner Top 25 Supply Chain List. Source: Gartner. But overall most of the list was the same as 2017. In fact if you go back 5 years to 2013 you will find that most of the names are the same as on the 2018 list. Source: Gartner (May 2018). Copyright Mortson Enterprises Inc, 2018. The post Gartner’s 2018 Top 25 Supply Chains List! Subscribe Here!

Sorting out Risk in FinTech Source Chains

NC State SCRC

But emerging technology is now beginning to create new ways to think about sourcing risk, which in the past has been a very manual, encumbered process. This has caused banks to look at the flow of activities in the “source chain”, which refers to the way that third parties use bank data for different opreations. Today, this end to end sourcing process has literally hundreds of different steps in the process. Let’s examine the source chain in more detail.

What is Virtual Procurement and Why Should You Care?

Supply Chain Game Changer

Check out Outsourcing Sourcing! Then you need Virtual Procurement! We are too small and can’t afford to hire a full-time procurement person. We are busy and just don’t have the time to focus on procurement.”. “We Many began looking hard at their expenses, how they were buying, often tactically without leveraging their full procurement power, and began centralizing the procurement function rather than leave it to each individual department to buy on their own.

JAGGAER is the Only Full Suite Provider Named as a 2018 Gartner Peer Insights Customers’ Choice for Strategic Sourcing Application Suites and as a Leader in Two Gartner Magic Quadrants

Jaggaer

In a year full of recognition from industry analysts, JAGGAER was named by customers as a 2018 Gartner Peer Insights Customers’ Choice for Strategic Sourcing Application Suites. After being named a Leader by Gartner analysts in Gartner’s 2018 Magic Quadrant for Strategic Sourcing Application Suites and Gartner’s 2018 Magic Quadrant for Procure-to-Pay Suites*, JAGGAER was recognized on Gartner Peer Insights as a direct reflection of customer satisfaction.

Risk Management: Is 2018 the Year of Living Dangerously?

Enterra Insights

Globalism has been a boon to the supply chain by expanding sourcing, opening new markets, accelerating growth and highlighting opportunities to save money. If supply chain complexity, global competition, information collection challenges, climate change, natural disasters, and protectionism aren’t enough to worry about, Benjamin Roussey insists five IT security risks are going to make 2018 a nightmare for risk managers.

Ethics in Procurement – Simple, but Not Always Easy

Logistics Bureau

If you have not yet tackled the question of ethics in procurement, now is a great time to start. It does not matter whether you are a procurement professional, internal customer, external customer, senior executive, or supplier. Procurement is what sets entire supply chains and their organisations in motion. How procurement handles itself and its activities set the tone for all the events that follow, right up to the final delivery of goods and services to the end-customer.

IKEA’s IWAY Has Lessons For Every Procurement Team!

Supply Chain Game Changer

Check out Procurement Report Card: Most Executives Think Procurement Isn’t Strategic Enough! Looking back on the training process, our research, strategy, implementation and evaluation methods closely mirrored supplier relationship management and procurement management. In fact, it made me think of a specific chapter I read from Magnus Carlsson’s Strategic Sourcing and Category Management: Lessons Learned at IKEA. Subscribe Here! Email Address.

This Week in Logistics News (May 7-11, 2018)

Talking Logistics

Source: [link]. The key takeaway here is that companies need to take a holistic and integrated approach to how they procure, plan, and execute their transportation operations. The post This Week in Logistics News (May 7-11, 2018) appeared first on Talking Logistics with Adrian Gonzalez. My wife often jokes that she is the VP of Supply Chain and Logistics in our family. But it’s no joke, it’s true.

Predictive analytics in procurement means using whatever data is available

NC State SCRC

Predictive analytics is still relatively new in procurement, but it’s increasingly important, particularly in organizations that have already been through the cycle of spend analytics, supplier leveraging, segmentation, and consolidation. Furthermore, prediction requires highly sophisticated levels of procurement analytical modeling capability. ” Analytics Big Data Procure to Pay Strategic Sourcing Supply Chain Management

5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. Procurement is a complex multidisciplinary team activity that crosses all areas of the business. The variables and complexities of purchasing products and services, from basic supplies through to strategic purchases, make Procurement a key resource within the business.

Building a Triple A Supply Chain: Ten Tactics That Work

Supply Chain Shaman

The advancements in analytics–open-source, cloud, internet-of-things (IOT), and cognitive computing–are very promising. Successful network design strategies are holistic crossing the boundaries of source, make and deliver. Companies that outsource procurement and focus on transactional supplier management are less agile and struggle to be adaptable. It was not my goal; but by accident, it became my mission.

Tail Spend: The Hidden Procurement That’s Hurting Your Company’s Bottom Line!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. Check out Indirect Procurement – It’s Time to Rise and Shine! In the fast-changing world of strategic Procurement, certain categories of spend get all the thunder: IT Procurement gets to help drive a company’s innovation. Business Services Procurement gets to restructure a company’s operations and drive competitiveness. Subscribe Here! Email Address.

Why Blockchain Within The Supply Chain Makes Perfect Sense

Cerasis

WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. Instead of having to deal with an ineffective point-to-point communication system like EDI and the complexity of reconciling multiple data sources with multiple permission models, Distributed Ledger Technology (DLT) provides a singular mechanism to securely integrate, harmonize, and synchronize data for all participants.

How is technology transforming global sourcing ?

Claritum

Claritum Article - Procurement Blog. Does your business source products and services from global markets? If your company is sourcing goods and services internationally you could be reaping many benefits. However, you could also face many challenges when globally sourcing across geopolitical boundaries. Without good visibility, maximising the benefits from global sourcing is impossible, as it is impossible to track exactly how much is being spent.

Paving the Way for Sustainable Public Procurement

EcoVadis

Sustainable public procurement can also be beneficial from the economic perspective: It can generate income, reduce costs and promote innovation among domestic producers. National Procurement Standards. Although public procurement policies vary widely from country to country, most national governments issue purchasing guidelines for state-owned enterprises. The commitment to sustainable procurement extends to ensuring suppliers follow sustainable practices.

Parts Are Not Parts

Supply Chain Shaman

A slight change within a function–in sourcing or manufacturing, or along the chain–can greatly impact the outcomes of cost, customer service, or working capital. Let’s take a closer look at sourcing. The more planners and the greater the sourcing complexity, the larger the issues requiring a new level of decision support for operations planning. PFEP optimizes the policies that define how to procure each part.

3 Ways to Increase Agility and Support Exploratory Sourcing Using Procurement Technology

ivalua

The post 3 Ways to Increase Agility and Support Exploratory Sourcing Using Procurement Technology appeared first on Ivalua

Building the Business Case for Supply Chain Risk Management

Cerasis

WHITE PAPER] The Top Supply Chain Trends that Will Impact Supply Chain Management in 2018. 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. Source: Deloitte We can provide lots more statistics and data , but the takeaway here is clear: effective supply chain risk management is critical for any organization to be successful in our ever-changing world.