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Theyre feeling the heat most, as sudden trade policy curveballs throw procurement plans into chaos. manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. Traditional procurement, with its long-term contracts and rigid supplier ties, just isnt cutting it anymore.
From sourcing and bid evaluation to warehouse slotting and dynamic routing, AI tools support faster and more consistent outcomes by processing large volumes of operational data and identifying patterns that human decision-makers may overlook. Integration allows seamless transitions from data insights to purchase approvals and execution.
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.
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?
Speaker: Laura Garcia, Sr. Editor at Supply Chain Digital and Procurement Magazines
During this webinar, we’ll discuss how to take an objectives-first approach and demystify some of today’s hottest tech such as IoT, AI, and Big Data and show you how they can help build resiliency, unearth competitive advantages and optimize bottom-line results by: Fostering innovation. Implementing strategic procurementstrategies.
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. Market Intelligence: Suppliers often have access to valuable business and supply market intelligence, which can inform a company’s strategy especially in the area of direct spend.
Data collection and verification remain areas of concern. Procurement and sustainability functions often operate independently, leading to inconsistencies when ESG criteria are applied during sourcing and supplier management. Legacy procurement systems pose challenges, as they were not designed to capture and manage ESG-related data.
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.
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. They can learn and improve over time, as they collect new data and feedback.
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. They can learn and improve over time, as they collect new data and feedback.
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.
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.
Home Meet Freightos Procure: The Next Evolution of SHIPSTA Freightos Procure rebrands SHIPSTA, enhancing procurement with market intelligence and seamless booking within the Freightos Enterprise suite, empowering shippers to manage the entire freight lifecycle efficiently. Were raising the bar.
Planners are uniquely positioned with an end-to-end focus, from procurement of materials, through manufacturing and engineering, to the movement, storage, and delivery of finished products or services. Supply chain planners are now frequently tasked with initiating transformations to address these various pressures.
Traditional supply chain planning, which relies on historical data and reactive adjustments, is no longer adequate for managing these challenges. AI as a Predictive Tool AI-driven supply chain planning integrates machine learning, real-time data analytics, and external risk monitoring to anticipate disruptions before they materialize.
For example, if I improve the cost structure in transportation, procurement, manufacturing and sales independently, what decision support framework decides the right trade-offs? I think the rewiring starts with the education of the executive team, and that process should follow strategy. You are right. What should be on the scorecard?
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.
A data-driven, technology-enabled approach is required to build resilience and efficiency. 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. Walmart is also implementing AI-driven logistics and procurement.
Resilience is the ability to respond to disruption while maintaining core operations, and more companies are shifting their strategies accordingly. Sudden tariff increases can quickly make a cost-optimized procurementstrategy untenable, leaving companies scrambling to adjust. Procurement is another area seeing change.
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.
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? Why can we not use disparate data–pictures, streaming data, and unstructured data–to sense and respond?
The law mandates the Forced Labor Enforcement Task Force to develop strategies for enforcement and requires importers to provide clear evidence that their supply chains are free from forced labor. They will handle providing accurate data across their operations, including product sourcing, procurement, and transactions, to name just a few.
Just when shippers catch a break, the landscape shifts again, forcing procurement teams to adjust strategies in real time. Xenetas data comprises over 500 million contracted container and air freight rates and covers over 170,000 global trade routes. tariffs are reshaping freight.
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. What’s become increasingly clear is that there are no more black swans in global logistics.
Home Meet Freightos Procure: The Next Evolution of SHIPSTA Freightos Procure rebrands SHIPSTA, enhancing procurement with market intelligence and seamless booking within the Freightos Enterprise suite, empowering shippers to manage the entire freight lifecycle efficiently. Were raising the bar.
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. How Inflation Impacts Procurement Inflation affects a number of aspects of a business, including its ability to compete in the market, financial performance, and overall strategy.
That tightly integrated advanced planning (APS) coupled to Enterprise Resource Planning (ERP) using order data is sufficient. Functional Metrics and the Lack of Alignment to Strategy. Few companies are clear on the number of supply chains they operate, design the rhythms and cycles of each, and align metrics to the strategy.
Employees Cannot Get to the Right Data at the Speed of Business A war is raging between Oracle, Salesforce and SAP to automate supply chains. Ask a procurement or transportation professional if they have a good demand signal and expect a laugh. The key is to use channel data and decrease demand latency.
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.
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.
Now for the Do’s & Don’ts In the dynamic world of FMCG, your Route to Market (RTM) strategy and distributor partnerships can make or break your brand’s success. Do Embrace Technology and Data : Use real-time data for demand forecasting, inventory management, and route optimization. Ensure margins are fair and sustainable.
The ability to drill down into this data at multiple levels ensures that sustainability measures are implemented and optimized for various supply chain segments. For example, when implementing air-to-ocean logistics strategies, the solution will weigh ocean freight more favorably than air freight.
That’s where data analytics comes in. Modern supply chains thrive on real-time data, execution-focused applications, and dynamic decision-making. In this post, we’ll explore how data analytics can revolutionize your supply chain. Demand Forecasting: Analyze past data to predict future needs.
Demand is at the Heart of Supply Chain Network Design The first step in the SCND process is translating business rules into a set of data inputs: demand, products, customers, sites, shipment rules, production details, and various constraints. Another strategy is to dedicate resources and build the best algorithm for demand forecasting.
The law requires importers to provide clear and convincing evidence of a forced-labor-free supply chain and tasks the Forced Labor Enforcement Task Force with devising enforcement strategies. Businesses will need to ensure accurate data reporting across core operations such as sourcing, procurement, and transactions.
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.
When we measure the bullwhip impact (in my class on outside-in process thinking), the bullwhip between manufacturing and procurement is 2-3X. Data latency issues amplify the bullwhip effect. Build outside-in data models to enable business leaders to see and understand market variability. The difference is opportunity.
Innovation Pillars: Diagnose: primarily powered by Infor Process Mining, this capability helps organizations gain visibility into business processes, uncover non-conforming variants, identify critical bottlenecks, and optimize operations based on data. The strategy strongly focused on enabling customer success and accelerating innovation.
Would Amazon be successful without giving users an abundance of data? As preposterous as this thought experiment seems, it is the reality of procurement departments in manufacturing firms across the United States. Bringing the Amazon Online User Experience to Procurement What might an Amazon-ified system look like?
” At that time, the sales organization used more point-of-sale data than their competitors, they had an impressive and innovative IT team, and their supply chain processes were what I considered best-in-class. As a result, 80% of the data surrounding the supply chain is never used. Over time, as I watched, this changed.
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).
In a world of ever-growing economic uncertainty, procurement is at the heart of organizations’ aim to drive efficiency and cost savings. This blog provides an overview of the most significant insights and best practices to make your procurement teams future ready.
Infrastructure Limitations: Existing infrastructure, including utilities, data networks, and support systems, may struggle to handle increased demand. A data-driven approach ensures systematic, sustainable growth. This allows for the creation of reusable components, applications, and data pipelines that support continued growth.
That’s the power of manufacturing data collection. Data transforms operations. Manufacturing data collection is your secret weapon for boosting efficiency, cutting waste, and staying ahead of the competition. Let’s dive in and unlock the potential of your manufacturing data.
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