Solving the Procurement Data Dilemma: How to use procurement data to avoid failure and fraud

HICX Solutions

As Peter explains about the link to Procurement, “It’s not surprising because that’s where money flows. Peter goes on to explain how rigorous onboarding provides the foundations for adding further data around supplier performance, sustainability issues, working practices or modern slavery.

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Procurement Technology – What it can and can’t replace in a Manufacturer’s Journey Towards Supply Chain Resilience and Agility


A review of the key elements in supplier management for manufacturers and how Source-to-Pay procurement technology can support the journey towards supply chain resilience and agility in times of crisis. As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. There are many supply chain management lessons to learn from the Covid-19 crisis. Risk & Performance Management.

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Solving the Procurement Data Dilemma: Using supplier data to drive successful relationships

HICX Solutions

In our second interview in the series on ‘Solving the Procurement Data Dilemma,’ which supports a full survey carried out by HICX and Raconteur on the subject, Gren Manuel speaks to Richard Wilding, OBE. Data that is brought in will lead to knowledge. New demands on Procurement.

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Is There a Future for ERP and Procurement Suites?

HICX Solutions

” This scathing remark, made in reference to outdated procurement technology and ERP software, is taken from AT Kearney’s report The Future of Procurement Technology. The procurement technology that the report is taking aim at is primarily that of suites, offering the view that while they “look great on paper” they are rather less able to deal with “the realities and complexities of day-to-day procurement” in practice.

Procurement Technology – What It Can & Can’t Replace In A Manufacturer’s Journey Towards Supply Chain Resilience And Agility


As the COVID-19 pandemic disrupts global supply chains, procurement organizations around the world are scrambling to react. There are many supply chain management lessons to learn from the Covid-19 crisis. In this article we’ll review how supplier management capabilities in Source-to-Pay technology can free-up and enable a manufacturer’s direct material procurement team to do what they do best to ensure the supply chain remains resilient and agile: be creative and strategic.

Becoming a Valued Busienss Partner: Procurement Analytics SCRC Meeting Insights


After highlighting some of the results from the IBM study I worked on this past fall on procurement analytics, I introduced Rich Hughes, former Chief Procurement Officer from Procter & Gamble. Rick told me that my presentation brought back a lot of early memories from P&G back when it was in its early days of procurement transformation in 2000-2001. During this period, spend under management was 50% at best, and there was significant fragmentation in the supply base.

New Goals for Procurement – Driving Revenue Growth Through Supplier Collaboration


Procurement professionals need to think in more innovative ways about how we can drive competitive advantage and shareholder value for our organisations. In my recent article , I talked about “the Art of Procurement”, and suggested that the time is right for procurement to move beyond our traditional focus on transactional improvement and basic cost reduction. In every case here, it’s clear that procurement has a potential role to play. Supplier Management

Gaining Sponsorship For Your Digital Procurement Transformation Project

HICX Solutions

Introduction: why shared services must speak ‘the language of business’ One of the challenges for shared services functions is generating interest in the value of data across the business. To try and fix this, it’s important for shared services to ‘speak the language’ of the business, while effectively communicating the importance of data governance. But this can be avoided and the benefits of doing so help cement support for the data project.

Supply Chain Movement 21 – S&OP + IT

Supply Chain Movement

Forecasting is about managing risks. Major organisational and cultural changes lie ahead for supply chain management. as the advance of e-commerce continues, companies with an omnichannel approach are increasingly implementing specific order management systems. furthermore, because the continuing growth in outsourcing is making global businesses ever-more susceptible to disruptions, supply chain risk management software is also on the rise.

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Is Your Supply Chain A Cost Centre or a Value Creator?

Supply Chain Game Changer

From planning to negotiating to buying, from moving goods to processing goods, and from managing data to managing inventory. Lean for instance is equally applicable in Supply Chain as it is in Manufacturing or anywhere else. The Supply Chain in the Financial sector is different from Manufacturing and Distribution for instance. Cash Cycle Management. Cost and Profit Management. Subscribe Here! Email Address.

The Supply Chain Detective™! In Search of Broken Supply Chain Clues!

Supply Chain Game Changer

Most companies have a Procurement function, Distribution, Logistics, Planning, Inventory Management, Product Data Management, and Operations. In the area of Procurement they did a lot of benchmarking and highlighted deficiencies in our materials costing and pricing processes, and the resultant uncompetitiveness and financial shortfall that resulted therefrom. Lack of a Supply Chain strategy beyond just managing operating expenses. Subscribe Here!

Imagining the Supply Chain of the Future!

Supply Chain Game Changer

The back bone of all of it is Digital Technology: The Internet of Things (IoT) End to End Digital Connectivity Cloud Computing Blockchain Big Data Artificial Intelligence Predictive Analytics Machine Learning Virtual Reality Augmented Reality Voice Activated Technology Wearable Devices Robotics 3D Printing and On Demand, Additive Manufacturing Cyber Security Autonomous Vehicles Drones Software as a Service (SaaS) and much more. The same applies to data. Subscribe Here!

What is SCM and Why is it Important?

Oracle SCM

The acronym SCM stands for supply chain management. It refers to the systems, processes and software packages used by organizations to manage day-to-day operating activities such as, new product development , demand, supply and sales & operations planning , procurement , logistics , order management , manufacturing and asset maintenance. Today, SCM systems are critical to businesses of all sizes and in all industries for managing their day to day operations.

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Supply Chain 2030: Forge a New Path

Supply Chain Shaman

As a result, to fulfill customer-centric and demand-driven strategies, companies need to build outside-in processes using market and channel data to sense, shape and drive a more intelligent response. Enterra Solutions announced a partnership with Cap Gemini and ToolsGroup announced the release of a software solution for the self-correcting supply chain with a focus on cleaning data and detecting anomalies.) The supporting data will be self-correcting.

Six Must Have Supply Chain Capabilities for Success in the Food and Beverage Industry


Today, we continue this conversation and look at six must have capabilities that drive supply chain improvement for F&B manufacturers. The food & beverage industry faces a lengthy list of unique challenges from long raw material lead-times and volatile commodity pricing to safety and quality requirements combined with high demand uncertainty, frequent new product introductions, perishability and complex manufacturing constraints. Advanced Inventory Management.

Digital Transformation of Supply Chain Planning at SKF


Digital transformation ” is tough for any firm, but when you are $9 billion industrial manufacturer, it is a sizable undertaking. At last week’s TG18 ToolsGroup user event , global bearing manufacturer SKF laid out an impressive review of their transformation to “ Integrated Planning ”. As Jörg Schlager, SKF's Business Transformation Manager - Demand Chain, describes it, the company is looking around and seeing disruption everywhere.

ProcureCon MRO 2019: Driving Change in MRO with Technology


Last week, we joined Chief Procurement Officers, heads of indirect, and maintenance, repair, and operations (MRO) category managers from top 500 manufacturing companies, as well as the world’s most innovative startups at ProcureCon MRO in Atlanta. Related: Manufacturing success: how procurement can leverage Industry 4.0 to manage MRO spend. But even if you are able to get to “good” data, how can it benefit your organization? Procurement

Leveraging Data in a Digital Transformation: Lessons from JAGGAER’s Fireside Chat


Digital procurement platforms are capable of producing incredible amounts of data, from spend history to supplier scores , delivery rates and more. But such massive amounts of data can easily lead to a new generation of questions. Which data can I trust? . At REV2019 , JAGGAER hosted a fireside chat panel discussion with several procurement professionals to discuss these exact dilemmas and gather expert opinions. How much data is too much? .

Five Trends That Excite Me!

Supply Chain Shaman

EDI is too cumbersome, and SAP Ariba’s focus, despite the marketing hype, is primarily on managing indirect spending. (My Suitable and instrumental for contract management and supply chain finance? Master data management and standards are the bane of B2B connectivity. Can artificial intelligence make standard discussions obsolete, and master data management roles no longer necessary? Data today does not move at the speed of business.

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5 ways ERP improves inventory visibility in your supply chain


Inventory visibility is one of the critical aspects of any manufacturing business. To ensure inventory visibility, you should have access to view, manage, and update your inventory status from trusted software. Inventory visibility ensures warehouse maintenance so that you know the minimum requirement of each item in stock and manage it well. From procurement to shipment, every process of supply chain planning becomes streamlined by improving inventory visibility. .

BidMode to join the EC Sourcing Family

EC Sourcing Group

October 13, 2020 / EC Sourcing Group, a leading global provider of SaaS sourcing technology solutions, has announced its acquisition of procurement solution provider, BidMode, with full terms of the merger remaining confidential. Morristown, N.J.,

Collaboration and Visibility in the Supply Chain

Oracle SCM

One of the Supply Chain Management trends apparent at the Gartner Supply Chain Executive Conference in May was highlighted by several vendor/customer presentations focused on the value of Collaboration and Visibility projects. This was a relatively heavy investment in time and resources when we had our startup due largely to the investment in data gathering and integration. See Oracle’s PaaS for SaaS data integration cloud for more information. Tom McDonough , Sr.

Your Trade War Survival Secret: Sales and Operations Planning – Part 2


When we left our account of mid-market manufacturer Superior Thermodynamics (ST), the company was weathering a tremendous escalation of the US-China trade war and faced the following questions: . In the end, ST still managed to exceed its profit goals and achieve revenue objectives adjusted for new market realities. Scenario planning at this level, like all aspects of supply chain planning, requires an exponentially growing volume of data from an expanding range of sources.

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Top 15 Logistics Blog Posts of 2014


We’ve already listed the top 10 manufacturing blog posts and the top 10 supply chain blog posts last week. The Warehouse Manager’s Complete Warehouse Traffic Management Checklist : A warehouse manager is responsible for ensuring the health and safety of their employees and others who visit your workplace. When a manufacturer’s product normally moves through the supply chain network, it is to reach the distributor or customer.

Late Night Thoughts on Productivity, Efficiency and Global Supply Chain Effectivness

Supply Chain Shaman

I took the liberty of simplifying some of Robert’s data in a chart in Figure 1. As cognitive computing evolves, will we need master data management coders? Or an order management workforce? The same holds for contract manufacturers. One option is to have manufacturers directly fund technology innovation as an investment. This week, we are closing the digital procure to pay study. It is late. I cannot sleep.

Supplier Data Comes of Age: The Benefits of Knowing Your Suppliers

HICX Solutions

The practical advantages of accurate supplier data. Bryan Nella, an executive at multinational enterprise software organisation Infor , talks about some of the practical advantages that can be enjoyed in the world of digital procurement once supplier data is accurate. There are also many financial reasons to shift to supplier information management systems. Applying algorithms to historical data may fail to enable an understanding of future behaviours.”.

Robust and continuously updated Master Data: A key ingredient for successful supply chain digital transformation

o9 Solutions

The most common answer to that question is “data”. In Gartner’s “ Future of Supply Chain, Reshaping the Profession ” report, one of the key roadblocks to embarking on a digital transformation is the access to reliable and good data. While we acknowledge that master data is often inaccurate, or might not exist, there is immense value in taking a fresh approach to solving the problem. First and foremost, nearly all organizations are data rich, but lack insights.

Supply Chain Management – A 2012 Priority


” While the economic climate may be uncertain, many companies realize they have to invest in areas such as supply chain management software to be competitive and profitably grow. This is just below the top two areas Data Management Strategy (approx. 55%) and Business Process Management (approx.

5 Quick Solutions for Simplifying Supply Chains


In an attempt to get back to supply chain basics, companies need to scrutinise their processes, from procurement through to storage and shipping. With the rapid rise in our ability to collect information, data saturation is everywhere. Sure, data is king when it comes to helping forecast future demand and inventory stock needs but the ability to collect data is not always supported by the ability to filter and manage that data correctly.

Keeping it Fresh: Supply Chain of Livestock and Fresh Food


Allastair Isbeter, DHL’s Vice President for Consumer said in an interview that “collaboration can be done by retailers, manufacturers, distributors, between logistics companies, final mile agents and between manufacturer and retailer. Furthermore, IoT has been widely used more than ever as businesses utilize data management technology for a more efficient way to trace products.

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Supplier information challenges in the automotive industry


Recently, I had the pleasure of hanging out with 16 different Tier 1 automotive manufacturers in the same evening. The audience was extremely engaged as many of them continue to look for better ways to generate the most value from the supplier selection process and ongoing supplier management. Manufacturers need better supplier information. lack of integration among the ERP, PLM, contract systems, spend analytics, BI, risk management, and other platforms.

COVID-19 Lesson: Make Your Supply Chain More Resilient

Logistics Bureau

But with the vulnerability of such ultra-dependence on China now exposed, business managers should be planning how to increase the resilience of their supply chains. According to the World Economic Forum , the disruption to primary supply caused by the Coronavirus pandemic has seen many global manufacturing OEMs scrambling to find secondary or tertiary suppliers, as well as moving some core business functions back to their own factories.

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Supplier Information Challenges in the Automotive Industry


Recently, I had the pleasure of hanging out with 16 different Tier 1 automotive manufacturers in the same evening. The audience was extremely engaged as many of them continue to look for better ways to generate the most value from the supplier selection process and ongoing supplier management. Manufacturers need better supplier information. lack of integration among the ERP, PLM, contract systems, spend analytics, BI, risk management, and other platforms.

How to Get the Benefit of GDPR for Your Supply Chain

Logistics Bureau

The General Data Protection Regulation or GDPR is often seen as a constraint on enterprises, rather than an opportunity. For supply chains, higher efficiency, lower costs, and better customer relationship management are just some of the possibilities. The goal of the GDPR is to give people greater control over their personal data. However, personal data can be any data relating to an identified or identifiable person. Data portability. Data subject.

50 expert tips on supply chain management

6 River Systems

“In the past, most disruptions were limited to a single supply chain,” explains Dr. Asoo Vakharia, McClatchy Professor and Director of the Supply Chain Management Center at the Warrington College of Business. As many states have started the process of reopening their economies, supply chain managers are faced with rethinking their supply chain networks. ” — Understanding risk management in the supply chain , Deloitte; Twitter: @DeloitteUS 4.