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Companies leaning heavily on global sourcing? manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. Consequently, when shortages emerged, they had already secured alternative sources, thereby averting a significant disruption to production. For example, U.S.-based
Blog " * " indicates required fields Email * Email This field is for validation purposes and should be left unchanged. Likewise, the use of multiple tools and systems (for now) means effective integration is becoming more and more crucial.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. S2P: Where to Start Ivalua provides a comprehensive set of integrated solutions that span the entire Source-to-Pay lifecycle.
In today’s interconnected world, ethical sourcing has transitioned from a “nice-to-have” to a critical imperative for businesses across all sectors. The global market for sustainable products is projected to reach $150 billion by 2025 , indicating a robust demand for ethically sourced goods across various sectors.
April 23, 2025 Blog Today, we’re excited to announce the launch of Freightos Enterprise our comprehensive solution designed specifically for large enterprises that import and export, who need to bring control, visibility, and efficiency to their global logistics operations.
Below are the individual web links and prime takeaway messages from each of our prior postings: Part One : Michael observed that standard sourcing solutions struggle to support direct materials sourcing because of specific challenges in legacy software design.
One of the most transformative tools in this regard includes, digital sourcing or also referred to as, e-sourcing applications. These digital platforms have revolutionized how businesses approach sourcing by enhancing efficiency, reducing costs and fostering better supplier relationships.
To mitigate risks, many companies are incorporating alternate parts into their sourcing strategy. Here, we highlight some of the obstacles with alternate parts sourcing and discuss key considerations to help streamline the process. 5 ESSENTIALS FOR SOURCING ALTERNATE COMPONENTS 1. Ensure parts originate from a trusted source.
AI is reshaping the way organizations source, manage suppliers, and drive value today. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. For example, agentic AI can analyze supplier data, evaluate contracts, manage purchase orders, or recommend sourcing strategies.
The data outcome is open source and can be used to improve project outcomes. using all of the test materials, survey results, blogs, YouTube content, and eBooks developed by Supply Chain Insights over the past five years. The Y chart service harmonizes the data across different public markets, currencies, M&A, and restatements.
Let’s explore them briefly in this blog post. The post IBP Scenario Modeling for Recovery, Restructuring and Resilience appeared first on AIMMS SC Blog. Our second webinar delved deeper into the technology aspect, focusing on analytical capabilities and scenario modeling. Use case 1: Initial emergency response.
In Part One of the series , Michael observed that standard sourcing solutions struggle in efforts to support direct materials sourcing because of specific challenges in the software design. He further established the case for why supply chain teams need to context integrated sourcing as well as procurement.
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
The following Supply Chain Matters multi-part guest commentary is authored by Michael Lamoureux who provides over 18 years of experience and observations and experience in procurement sourcing technology applications. Michael is the Editor-in-Chief of the Sourcing Innovation blog. We’ll explore each of these. Why is this?
Ivalua commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study , offering key insights into how companies can unlock substantial financial benefits and operational improvements by adopting Ivalua’s unified Source-to-Pay (S2P) platform. 393% ROI from process automation, better visibility, and replacing old systems.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
In Part One of the series , Michael observed that standard sourcing solutions struggle in efforts to support direct materials sourcing because of specific challenges in the software design and why. Much of this has to do with needs for deep integration and two way flow of data streams.
Procurement is the strategic, big-picture approach to sourcing and supplier relationship management, while purchasing is the tactical execution of those plans. Procurement is the end-to-end process of identifying business needs, sourcing goods and services, negotiating contracts, and managing supplier relationships over time.
Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.
In this blog, we cover the key differences between procurement and supply chain management, and explain where the biggest disconnects typically occur. In many organizations, procurement also plays a critical role in ESG compliance, innovation sourcing, and maintaining business continuity during supply disruptions.
This guide breaks down the key procurement technologies in use today and the trends reshaping the future, such as AI-driven sourcing, predictive risk management, and deeper integration across the supply chain. What Is Procurement Technology? Here are some of the most important tools teams are already using.
This blog explores the most common challenges in digital procurement and the capabilities that matter most. Digital procurement streamlines workflows and unifies data, enabling faster sourcing, better collaboration, and improved accuracy. Procurement Teams Digital technology empowers procurement teams with efficiency and control.
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Who Should Prioritize an S2P Digital Transformation?
Christian Wilhelm April 30, 2025 Blog We’re excited to announce that SHIPSTA by Freightos is officially rebranding as Freightos Procure. With Freightos Procure, were now in a position to build true Procurement Intelligence by combining global market data with modern sourcing and decision-making processes.
Fictiv’s Global Manufacturing Supply Chain brings together AI-driven technology workflows, a world-class global manufacturing network, and teams of local manufacturing experts to simplify sourcing for custom mechanical components. The deal is subject to customary closing conditions including regulatory approvals. .”
They write, “This includes tackling bigger issues such as compliance, supplier relationship management, risk and disruption, responsible sourcing, and transparency. “AI allows you to integrate real-time data from various sources, helping you devise more efficient delivery routes and schedules.
In todays complex and often volatile global environment, procurement leaders face mounting pressure to cut sourcing costs while navigating geopolitical instability, inflation, tariffs and talent shortages. The truth is, sourcing smarter isnt just about softwareits about strategy, support, and best practices.
April 23, 2025 Blog Today, we’re excited to announce the launch of Freightos Enterprise our comprehensive solution designed specifically for large enterprises that import and export, who need to bring control, visibility, and efficiency to their global logistics operations.
Optimizing fulfillment requires a series of steps to get a shipment from its source to the end customer. These steps include sourcing and receiving inventory, storing inventory, order processing, picking and packing an order, shipping the order, and returns management.
Ian Arroyo April 29, 2025 Blog As Freightos’ Chief Strategy Officer, I’ve had the privilege of witnessing firsthand how the logistics industry has transformed since COVID-19 disrupted supply chains worldwide. See How It Works The Future of Integrated Logistics As I look ahead, integration will become increasingly crucial.
Dive into our curated list of the top 12 blogs from 2024 that will elevate your supply chain knowledge and give you a competitive edge. However, it covers key differences between purchasing and procurement, explores common contract types, and emphasizes the importance of strategic sourcing, supplier relationships, and risk management.
Look no further that the blog of the Whitehouse Council of Economic Advisors for commentary on the connection between supply chains and inflation. These sources, and others, indicate acute supply constraints in certain areas, such as automotive, and other factors that appear to be more widespread, such as labor constraints. Final Word.
Discover capability gaps and create sourcing events Seek and discover what capabilities the organization may be lacking, such as vulnerabilities or inefficiencies in transportation or supplier capacity. By identifying these gaps, you can create sourcing events to close them. <br>- Organize sourcing events to address gaps.
In this blog post, we’ll explore the challenges of inventory management in today’s manufacturing landscape , discuss the importance of a “single source of truth” for global inventory, and introduce a powerful solution that can help manufacturers transform their operations and drive profitability. How do they achieve this?
However, one-third of SCP leaders cite “the lack of effective decision making in the S&OP meeting process as the most critical problem to solve for their function’s overall performance” (source: Gartner, Improve S&OP Decision Making Through Scenario Planning , Supply Chain Research Team, 4 May 2020).
In a recent blog post, I was challenged by Anna. ” Anna, this blog post is for you. ” Anna, this blog post is for you. Go to the source. Set up a time for digital marketing teams, data scientists, sales account teams, and supply chain groups to brainstorm on using various data sources to improve the models.
To strengthen resiliency, companies invested in AI and machine learning, made strides to reduce dependency on single sourcing, and prioritized nearshoring and reshoring efforts. In this blog, we analyze Resilincs EventWatch AI data from 2024. Learn more in our blog: How Do Mergers and Acquisitions Impact Supply Chains?
I could write a blog about each story, but let’s save that for coffee.) As I type this blog post, I face my flowers blooming in my backyard. In this blog, I give my thoughts on the fit of these approaches for value. Based on the current hype cycle, I am sure that this blog post will generate a lot of dialogue.
I will be writing more about this in future installments of this blog series. Batteries are sourced from South Korea and China. For example, the F-35 fighter jet contains parts sourced from various countries including the US, UK, Italy, Netherlands, Canada, Denmark, Norway, Australia, and Turkey.
Too few companies have a holistic approach to embrace the plan, make, source, and deliver together. Procurement processes–encumbered by a focus on paperless processing, RFPs/RFQs, and efficient procurement–do not embrace the capabilities and requirements of direct material sourcing. Current State of Visibility.
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. See you soon!
Companies importing and exporting goods, be it finished retail products, manufacturing components or materials, now face substantial cost and price pressures that squeeze margins and force difficult pricing, sourcing, operations and distribution decisions. For example, you might source from a domestic supplier that doesnt incur a tariff.
In this blog we will share machine learning techniques that can produce fully-automated forecasts for new products. No effort required to set up (careful data sourcing and data preparation is fundamental). Machine learning (ML) provides an effective weapon for your new product forecasting arsenal. Overall reasonably accurate forecasts.
Christian Wilhelm April 30, 2025 Blog We’re excited to announce that SHIPSTA by Freightos is officially rebranding as Freightos Procure. With Freightos Procure, were now in a position to build true Procurement Intelligence by combining global market data with modern sourcing and decision-making processes.
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