Remove 2023 Remove Data Remove Procurement Remove Sourcing

8 Tips to Help Procurement Optimize Supplier Master Data

ivalua

Gartner predicts that by 2023, organizations that don’t optimize supplier master data management (MDM) could have wrong information for half of their suppliers! Accurate supplier master data (SMD) is essential for procure-to-pay (P2P) automation, accuracy and analytics, but connecting data to users and systems sometimes gets bumpy. Tip #1 – Use holistic data modeling to optimize organizational needs. Where are you on your Procurement journey?

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2020 The Year To Address The Elephant in Every Room – Data

ivalua

North Carolina State Poole College of Management recently produced this 28 page report entitled “ 2019 Supply Chain Data Quality and Governance Study ”. Getting Data right is an imperative. Source: 2019 Supply Chain Data Quality and Governance Study.

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Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

Gartner estimates that by the end of 2022, 85% of enterprises will have some form of RPA implemented in their business and Forrester calculates the RPA market will exceed a 50% CAGR by 2023, going from roughly $500 million to $2.8 Procurement.

Trends and Predictions 2020: Supply Chain

Enterra Insights

“Spurred in part by the Internet of Things, supply chains are increasingly integrating data from sensors, GPS and weather patterns to see events and witness scenarios as they occur. Supply chains will be able to procure, source, manufacture and handle logistics across a broad array of players including small to medium businesses. Greeting the new year is like walking into a dimly lit room from the bright sunlight.

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The conscious consumer – Buying the change they want retail to make?

Proxima

As such, there’s an increasing demand to know exactly where and how products are sourced and workers are treated. Avoid greenwashing campaigns Although consumers want to buy better, often their only source of information are the claims from the company.

How Blockchain Can Improve Manufacturing In 2019

IQMS

By 2023, 30% of manufacturing companies with more than $5B in revenue will have implemented Industry 4.0 Increasing visibility across every area of manufacturing starting with suppliers, strategic sourcing, procurement, and supplier quality to shop floor operations including machine-level monitoring and service, blockchain can enable entirely new manufacturing business models.

Online Grocery Sales Continue to Grow

Enterra Insights

There’s been increased use of mobile phones and smartphones, interfaces for websites and mobile apps have improved, and there’s been a notable expansion of crowd-sourced business models to shopping and delivery.”[1] Data breaches are one of the quickest ways to lose consumer confidence and support. 1] Krishna Thakker, “ Report: Online grocery sales set to quadruple by 2023 ,” Grocery Dive , 28 October 2018. [2]

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Supply Chain Optimization Software – A Comprehensive Guide for Manufacturers

ThroughPut

Gartner also predicts that by 2023 intelligent algorithms and AI techniques will be an embedded or augmented component across 25% of all supply chain technology solutions. Advanced technologies like machine learning, AI, and data science, when applied to the supply chain planning process, automatically create a seamless and optimized supply chain for manufacturers. This is very helpful, especially when you use data pulled from real-time analytics.

36 innovative companies re-inventing and rethinking supply chain and logistics

6 River Systems

Adidas @adidas Adidas is expected to move nearly 20% of its production to more automated factories by 2023 , many of them potentially proprietary. Strategies include sourcing more items directly from manufacturers to improve margins, SKU rationalization and space reduction, “show more carry less” and assisted-store ordering. The facility was designed with scalability in mind, making use of software, automatic data collection, and other solutions to streamline operations.