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Your inbox quickly fills with concerned emails highlighting rising costs, delayed materials, and your teams urgent efforts to assess the situation and determine the next steps. Theyre feeling the heat most, as sudden trade policy curveballs throw procurement plans into chaos. What Is Agile Procurement?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. Strategies that worked just a few years ago are now too rigid, manual, or disconnected to keep up. How do you begin developing a procurementstrategy?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. Strategies that worked just a few years ago are now too rigid, manual, or disconnected to keep up. How do you begin developing a procurementstrategy?
2025,the United States and China announced an agreement to reduce tariffs on each others goods for a limited period of 90 days. China will reduce its tariffs on U.S. Provisions for Further Negotiation In addition to the temporary tariff reductions, the agreement establishes a working mechanism to continue technical consultations.
For supply chain and procurement pros, costreduction is a top priority today. This timely new paper from GEP explores powerful and effective digital levers that can help you to slash costs and create more value for the business. Read it now.
If you’re evaluating procurement technology or exploring ways to drive more value from existing systems, chances are you’re looking beyond tactical fixes – you want a smarter, scalable strategy. Misaligned priorities across finance, legal, and procurement create friction that delays decision-making and reduces impact.
Reducingcost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Resilience is the ability to respond to disruption while maintaining core operations, and more companies are shifting their strategies accordingly. Procurement is another area seeing change.
This article outlines key factors driving supply chain change, the limitations of outdated strategies, and how Walmart is restructuring its supply chain using AI and automation. The Shift from Cost-Cutting to Resilience For years, supply chains prioritized costreduction over resilience.
The adoption of AI in supply chain automation is enabling companies to make more accurate decisions, reduce cycle times, and better manage complexity. AI in supply chain automation is gradually reshaping how core functions operate, particularly in procurement, warehousing, and logistics.
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? The paper highlights real-world examples and use cases that demonstrate generative AI's transformative effects on operational efficiency, risk management, and costreduction.
Home Introducing Freightos Enterprise: End-to-End Procurement, Benchmarking, and Management Freightos Enterprise unifies market intelligence, tender management, and shipment operations into one solution, enhancing logistics efficiency for large import-export businesses.
They integrate AI into demand forecasting, inventory optimization, and logistics operations to improve efficiency, reducecosts, and mitigate risks. Companies must react after the fact, often incurring higher costs and reduced service levels.
Cost pressures can complicate ESG efforts. Suppliers that meet higher sustainability standards may charge more, putting tension between cost optimization and sustainability goals. Legacy procurement systems pose challenges, as they were not designed to capture and manage ESG-related data.
” Traditional planning models optimize functional processes to improve cost and customer service. The problem is that the reduction of costs within one function does not necessarily drive value. I think the rewiring starts with the education of the executive team, and that process should follow strategy.
One policy shift and your sourcing strategy is upside down. This bulletin cuts straight to the point. Tariffs are no longer just policy noise. They’re driving real, bottom-line impact.
Traditionally, procurement has been a process weighed down by manual tasks, fragmented systems, and endless paperwork. Today, procurement is undergoing a transformation. While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact.
Trade policies are constantly evolving, forcing companies to assess how these changes impact customer demand, supply networks, fulfillment strategies, and cost to serve. Develop financial flexibility by securing capital and implementing cost-cutting measures. Practical Strategies for Managing Tariff Volatility 1.
Treating suppliers as essential partners in the field of direct spend management—almost like customers—can be a key component of a successful company strategy. Supply Chain Knowledge and Risk Mitigation: Suppliers have a direct impact on direct spend with raw material and transportation costs as two big drivers of operating margins.
Direct and indirect procurement are two fundamental approaches in supply chain management, each serving distinct functions within an organization. Both focus on improving efficiency and reducingcosts but differ in their strategic approach and impact on the core business operations. Find Out More What Is Procurement?
Without the right strategy, enterprises face hidden risks and unnecessary spend. Tail spend — often unmanaged, fragmented and costly — can account for as much as 80% of total transaction volume. It’s time to shift from fragmented, ad hoc purchasing to a strategic, technology-driven approach.
Most organizations have public commitments to reduce their carbon footprint, with some of the more aggressive goals promising net zero emissions as early as 2040. Reducing emissions from transportation is crucial to achieving organizations sustainability goals. Freight transportation makes up over 10% of total global carbon emissions.
Advanced supply chain planning software leverages these probability distributions to optimize inventory targets, balancing service levels against carrying costs with mathematical precision. Probabilistic demand planning enables businesses to optimize stock levels while reducingcosts and improving service levels. The result?
Enterprise procurement leaders are under more pressure than ever—juggling cost control, compliance, supplier risk, and internal complexity, all while trying to modernize outdated systems. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.
Procurement and purchasing are often used interchangeably, but they serve distinct roles within any successful organization.While both involve acquiring goods and services, their workflows, objectives, and impact on enterprise risk management differ significantly. Procurement vs. Purchasing: What’s the Difference? What is Procurement?
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. While some embrace cutting-edge tools like AI and blockchain for global trade functions, others lag in technology adoption.
Advanced supply chain planning software leverages these probability distributions to optimize inventory targets, balancing service levels against carrying costs with mathematical precision. Probabilistic demand planning enables businesses to optimize stock levels while reducingcosts and improving service levels. The result?
Mark Baxa , John Delgado and Joe Lynch discuss supply chain shock waves: strategies for survival and success. FreightPath’s approach integrates a deep understanding of human capital costs and revenue drivers essential for financial success.
In this type of environment, traditional procurement software and manual processes are insufficient – and many procurement teams are looking to artificial intelligence (AI) for answers. Key Takeaways Understand the potential impact of AI – including Generative AI & AI Agents – in procurement.
Procurement and supply chain management are often used interchangeably—but in practice, the lines between them can blur in ways that create real friction. Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time.
And when it comes to procurement, focusing on digital transformation now can dramatically reducecosts, improve visibility and insight, and give you a significant competitive advantage. To find out, get your free copy of this must-read whitepaper: A 5-Point Strategy for Digital Procurement Transformation.
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?
In this article, we’ll explain what centralized purchasing is, the challenges it tackles, the benefits of centralized procurement, and the types of companies that can benefit most from it. That’s when a centralized procurement organization structure proves beneficial.
These inefficiencies inflate costs and slow response times when customer needs change. By producing only whats needed, when its needed, they eliminate the burden of forecasting errors and reduce warehouse dependency. Powered by digital tools, on-demand strategies offer a cleaner, more responsive path to production.
Establishing a resilient supply chain network design will require an agile procurementstrategy—one that’s cost effective and unrestricted, and allows shippers to toggle their resources to address freight market issues impacting their network.
Enterprise procurement teams face growing pressure to deliver strategic value – managing supplier risk, ensuring compliance, and supporting sustainability – all without sacrificing speed or control. This blog explores the most common challenges in digital procurement and the capabilities that matter most.
Home Introducing Freightos Enterprise: End-to-End Procurement, Benchmarking, and Management Freightos Enterprise unifies market intelligence, tender management, and shipment operations into one solution, enhancing logistics efficiency for large import-export businesses.
Functional Metrics and the Lack of Alignment to Strategy. 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. The Lovefest with Shiny Objects. Guess what?
Yes, a time when well-meaning supply chain leaders share their strategy decks for the upcoming year and ask me for an opinion. How do we seamlessly connect outcomes from optimization to policy, strategy, and rules? And, in the strategy documents that I review, most teams are rebranding historical work as digital. The reason?
Speaker: Eric Berdinis, Ran Sun, & Chris Chmielewski
Procuring freight can be cumbersome, time-consuming, and error-prone. In today’s fast-moving supply chain environment, optimizing these processes is critical to staying competitive and cuttingcosts.
Spare parts supply chains, however, come with their own set of complexities, requiring targeted strategies and specialized tools to meet these unique demands effectively. This optimal inventory positioning leads to increased customer satisfaction, reduced downtime for clients, and improved brand reputation.
Just when shippers catch a break, the landscape shifts again, forcing procurement teams to adjust strategies in real time. tariffs, ongoing geopolitical tensions, and looming changes to the de minimis threshold for low-value imports from China are keeping global supply chains on unstable ground. tariffs are reshaping freight.
As Procurement teams are tasked to do more with less in an increasingly complex and uncertain market, digitization has become a must. Procurement leaders have increasingly turned to Spend and Supplier Management platforms to improve decision-making, efficiency and collaboration. What is Total Economic Impact? Payback in under 6 months.
Meanwhile, customers’ procurement operations were seeing a new generation of talent come of age who were pushing for better value-added services and shipment visibility. Simplification and standardization were key to the strategy. KRONOS Worldwide implemented SAP’s ERP to gain more central control and streamline operations.
Speaker: Adam Robinson, Director of Marketing, Cerasis
We’ll address how automation in the supply chain will provide employees with the following: More Strategic Procurement. Find Freight Capacity & Reduce Freight Costs with Automated, AI, & Blockchain Driven TMS. Improved Picking & Warehouse Efficiency thanks to Picking Autonomous Mobile Robots & Voice Commands.
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