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As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
More Resources Home November 21, 2023 Update The Freightos Weekly Update helps you stay on top of the latest developments in international freight by giving you the rundown on the latest economic data, ocean and air demand trends, rate data – and anything else impacting the market. Europe prices (FBX11 Weekly) decreased 7% to $1,291/FEU.
For example, if I improve the cost structure in transportation, procurement, manufacturing and sales independently, what decision support framework decides the right trade-offs? ” Traditional planning models optimize functional processes to improve cost and customer service. You are right. Before we get started, let’s agree.
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?
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.
As we turn the page on 2022 , I’d like to make five supply chain predictions about what to expect for 2023. All these factors together place the second half of 2023 in a more positive light. However, it is worthwhile for leaders to keep tabs on how these technologies evolve through the rest of 2023. He received his Ph.D.
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.
Over the past few years, supply chain and procurement pros have faced the challenge of navigating their enterprises through one disruption after another. How will the picture change in 2023 ? The threat of an economic recession is looming over all major economies in 2023. Inflation Pressure. Upcoming Recession?
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?
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. Figure A: Beverage Industry Aggregate Industry Trend 2014-2023 Figure B.
A 2023 McKinsey study found that companies relying on reactive supply chain management lose up to 10% of annual revenue due to inefficiencies and missed opportunities. Operational Benefits of AI-Driven Supply Chain Planning Cost Reduction AI enables cost reductions by optimizing inventory management, logistics, and procurement.
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.
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.
Speaker: Kelly Barner - Co-Founder & Managing Director of Buyers Meeting Point, LLC
Since 2020, procurement and supply chain professionals have faced an unprecedented set of challenges. What will 2023 bring? The pandemic was just the start. Global inflation is at record highs and the Great Resignation has given way to the Great Reshuffling, leading to uncertainty in talent markets.
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.
What Lieferkettengesetz Means for Procurement? The German Supply Chain Act, or Lieferkettengesetz, is a new piece of legislation that came into effect January 2023 with an extended remit from January 1, 2024. For procurement organizations, the German Supply Chain Act presents both challenges and opportunities.
Here are some highlights from these trends in 2023 and implications on supply chain planning. This trend is expected to continue in 2023, with omnichannel sales across websites, social media, mobile apps, and brick-and-mortar stores being crucial for businesses.
We recommend leveraging these workstreams, based on Gartner’s 4 Workstreams for Successful Implementation of Any Procurement Application to maximize the impact of your next large-scale procurement implementation: 1. Ivalua Spend Management Insights [ivory-search] Get Ready for Success!
In 2023, shippers have an opportunity to reimagine their supply chain operations so they’re well equipped to navigate any future disruption. Understanding when and how to leverage real-time, spot, contract and dedicated procurement—depending on business needs and the state of the market—will be vital to navigating supply chain volatility.
Ivalua Spend Management Insights [ivory-search] Navigating CSRD Regulation: What Procurement, Supply Chain, and Finance Leaders Need to Know June 12, 2023 | | Sustainability by Vishal Patel In an effort to drive sustainability and combat climate change, the European Union has introduced the Corporate Sustainability Reporting Directive (CSRD).
Companies may need to revise inventory strategies and adjust procurement lead times accordingly. States with Enacted Bans California: In 2023, California passed the California Food Safety Act, banning four additivesincluding Red Dye No. Cold chain infrastructure may be necessary for both raw material and finished goods transport.
In March 2023, the Global Supply Chain Pressure Index fell to the lowest level since November 2008. In March 2023, the level of disruption fell to a level seen in November 1998. In the face of variability, this is two-to-six weeks too long to make allocation or procurement decisions. Unrest in Sudan. Shift in cycles.
Looking Back to 2023 Performance in 2023 was not as positive as we might have hoped, and it was a harder year than many had anticipated. A majority of organizations (62 percent) missed their 2023 business goals, and four in five organizations reported falling short of their competitors’ or peers’ performance (Figure 1).
Speaker: Helen Mackenzie - Head of Community Outreach at Art of Procurement
It feels like procurement and supply chain has been on a transformation journey for decades, a marathon with no finish line in sight. Join us as Helen Mackenzie fires the starting pistol on the heat that could determine procurement and supply chain’s fate: the race to 10x the impact.
Logistics Procurement – Performance Management Download the latest LogiSYM Supply Chain Magazine In this edition we have several news updates, interesting & enlightening articles and contributions on people & management – topics which are most crucial to the development of the Supply Chain Industry across regions as well as globally.
Under Pressure, Will Procurement Take Performance Higher in 2023? . Procurement and supply chain teams have been trying to hold the line against macroeconomic and global market forces that have been pushing hard against them for nearly three years. Procurement and supply chain teams are under constant pressure. “Our
Ivalua Spend Management Insights [ivory-search] 5 Reasons to Attend 2023 Ivalua NOW Paris! March 6, 2023 | | Ivalua NOW by Eloise Barnum 5 Reasons to Attend 2023 Ivalua NOW Paris – Breaking New Ground We are thrilled to invite procurement leaders, innovators, customers, and colleagues to Ivalua NOW Paris.
DOWNLOAD NOW RETURN TO THE ARCHIVE Featured articles from this issue: h6 The Approach to Effective Freight Procurement LogiSYM Supply Chain Magazine – October 2023 The Evolution of Asset Management: Humans, Inventory and the Rise of AI The Green Corridor: The Circular Journey Managing Inventory amid Regime Change
Speaker: Olivia Montgomery, Associate Principal Supply Chain Analyst
What should your plans for 2023 include? In this webinar, you’ll gain actionable insights from Olivia Montgomery as she walks us through Capterra’s extensive research on how businesses - notably SMBs - are addressing supply chain challenges in 2023. Procurement strategies in response to network delays and bottlenecks.
Interestingly, in Q3 2023, 38% of manufacturers, distributors and retailers missed their target for revenue guidance for the quarter. ” • Evaluate and adjust procurement category strategic responsibilities. Another EY analyst suggestion involves procurement. ” Supply Chain Shaman, 7 December 2023. [4]
Read More December 15, 2023 new initiatives are added or introduced based on the feedback and direction of the group as a whole which is led by a senior supply chain professional.
Ivalua Spend Management Insights [ivory-search] 2023 Ivalua NOW Paris: Recap + Photos! April 6, 2023 | | Ivalua NOW 2023 Ivalua NOW Paris Day 1 + 2 Recap Paris may be the City of Lights, but Ivalua NOW was a bright beacon in its own right! For now, our “Breaking New Ground” Ivalua Now 2023 Recap provides a great summary below.
Ivalua Spend Management Insights [ivory-search] 2023 Ivalua NOW Nashville: Recap + Photos! May 18, 2023 | | Ivalua NOW by Eloise Barnum They say city lights got nothin’ on country nights—and well–they ain’t wrong! We can’t recreate Ivalua NOW 2023 Nashville–but we’ll always have the memories!
per cent in January 2023, down from 9.2 Understanding how inflation impacts procurement and then taking action to mitigate its effects is essential for any business looking to stay ahead of the game. Unchecked inflation can not only damage profitability and hinder growth opportunities but also impact long-term success.
Driving decarbonization with technology In 2023, the SAP CPO Think Tank community has been closely examining how companies can accelerate supply chain decarbonization. This blog highlights key strategies from these recent forums on sustainable procurement and practical tips to achieve impactful results. How can technology help?
Earlier this year, QAD hosted a live webinar to explore and analyze the trends that are likely to dominate the procurement world over the coming months. It’s no secret that procurement teams have an amplified role within their businesses and that many are left with questions — our goal was to offer answers.
2025 Vision: Transforming Indias Procurement Landscape Indias dynamic economy and distinctive procurement landscape offer significant opportunities for growing businesses to scale strategically. Ready to Take Your Procurement Strategy Further? Discover Procurement Solutions Built for Indias Future
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.
” This raises numerous questions, he notes, “What costumes and decorations and candy to make or procure, how much of them, what raw materials you might need, how and when to ship them over?” this year: NRF ,” Retail Dive, 21 September 2023. [2] this year: NRF ,” Retail Dive, 21 September 2023. [2]
FactSet reports that 66% of companies in Q3 2023 beat revenue guidance. The second is, Why are companies focused on traditional risk management investments primarily focused on supply/procurement when the more significant opportunity is balancing risk and opportunity in an increasingly complex world? The public markets are nervous.
Read more The post [Video] Discussing the Lessons Learned in Transportation Procurement Management appeared first on Talking Logistics with Adrian Gonzalez. Read more
The company saved 700 man-hours annually on admin and increases its share of certified suppliers by 20% Madrid, 13th May 2025 JAGGAER bolsters the digitalisation of procurement processes at Cosentino, a Spanish family-owned company with an international presence and a world leader in the production of surfaces for architecture and design.
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