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. To cover your full master data needs, Procurement should work with all internal stakeholders to map out the supplier lifecycle from end to end.

Data 109

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

ivalua

In another recent report, Gartner predicted that by 2023, organizations that don’t really tackle the issue of supplier master data management will very likely have the wrong information for half of their suppliers.

Data 130

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

Why Real-Time Visibility Should be Core to Your Supply Chain Strategy

CH Robinson Logistics

According to Gartner, “By 2023, 50% of global leading enterprises will have invested in real-time transportation visibility solutions.” Logistics Managed Procurement Services (MPS) Supply Chain Technology TMS Gartner Gartner Visability Manage TMS Supply Chain VisibilityUsing technology to drive strategy and improve performance—and ultimately create financial value—is top of mind for shippers today managing complex global supply chains.

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

Supply chains will be able to procure, source, manufacture and handle logistics across a broad array of players including small to medium businesses. Automated Analysis : “By the end of 2020, half of all large manufacturers will have automated supplier and spend data analysis, resulting in a 15% procurement productivity gain.” Greeting the new year is like walking into a dimly lit room from the bright sunlight.

Trends 100

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

Proxima

Publishing supplier lists and being honest about product ethics (they have a commitment to achieve 100% RSPO-certified sustainable palm oil by 2023 but are not yet there), Nestle is working towards rebuilding customer trust. And so what for retail procurement?

Online Grocery Sales Continue to Grow

Enterra Insights

When it comes to processes, Sacra writes, “Pay careful attention to the areas of your business that are most likely to be affected by the introduction of new e-commerce technology, including IT, procurement, operations, logistics and other departments, as they’re more likely to feel overburdened and undersupported during times of extreme change. 1] Krishna Thakker, “ Report: Online grocery sales set to quadruple by 2023 ,” Grocery Dive , 28 October 2018. [2]

Report 100

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. Needed to automate the procurement order processes. What is supply chain optimization?

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. Managing inventory is one of the most crucial aspects of supply chain optimization as it affects several other parts of your supply chain, including procurement, order fulfillment, and production capacity planning. Needed to automate the procurement order processes. What is Supply Chain Optimization?

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. The DFC will ship parcel packages directly to consumers and eventually will service more than 1,750 Lowe’s retail stores and 15 of the company’s regional distribution centers, requiring an anticipated 600 workers by 2023, which is about 13% of the Coopertown population.

Addressing UN Sustainable Development Goal 8: Helping Automotive Businesses Tackle Modern Slavery

EcoVadis

According to SDG Compass, 212 million people will be unemployed by next year, which means, to keep up with the growing working age population, the world needs to create 600 million jobs by 2023. Early adopters of ethical automobile manufacturing and procurement practices are more likely to perform well in a global economy where the ethical consumption is rapidly becoming a significant market force.

The UK ‘Eat Out to Help Out’ Scheme – what next?

Proxima

With indirect spend typically representing 15% of the cost base, perhaps the answer sits in this often untouched territory, utilizing hospitality procurement and supplier expertise to better shape the experience on offer….