Factoring Risk & Business Continuity into Holistic Supplier Management

Jaggaer

What is the optimal way to categorize your suppliers so that you can manage them better and maximize business continuity? The report, therefore, provides a very useful insight into supply chain management and resilience from the perspective of this community. Tier Suppliers.

A Look at Direct v. Indirect Supplier Management in Three Industries

ivalua

Doug Keeley, Product Marketing Manager, Ivalua. The most fundamental spend categorization in Procurement is the line between direct and indirect spend, but one effort that transcends this split is supplier management.

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What are the Key Components of Successful Supplier Management?

HICX Solutions

Here at HICX we are championing the importance and value of evolved supplier management. In this blog we take a look at the key components of supplier management , starting with… 1. Onboarding and Master Data. Establish data standards, processes and controls.

Your Procure-to-Pay Suite Won’t Cut It For Supplier Management – Here’s Why

HICX Solutions

One of the most common scenarios is to have the P2P system become the master for supplier data and the single portal for all suppliers to the business. Firstly, suites aren’t designed for the huge variety in the supplier base. Sure, suppliers have in common that they sell you products or services and you pay them, but that’s about where the commonality ends. Supplier Management p2p procure-to-pay supplier management

Supplier Management Through a Vendor Portal

TPSynergy

Along with your customers, suppliers and purchasing agents need the same level of info just as fast. The fastest and most cost-effective way to implement this is with a supplier vendor portal. Here are some of its benefits: SUPPLIER SELF-SERVICE. CHANGE MANAGEMENT.

5 Pillars of Effective Supplier Management

Claritum

This article focuses on effective supplier management. The five pillars of effective supplier management covered in this article are: Supplier Information Management. Supplier Lifecycle Management. Supplier Performance Management.

Supplier Management and Sourcing in the Fashion Industry – Under the Spotlight

Jaggaer

More than virtually any other sector, sourcing and supplier management in the fashion industry have been exposed to intense scrutiny in recent years, while the functions have become of increasingly strategic importance to business success.

Hitting The Brakes On Out Of Control Supplier Master Data W/ Cyrille Naux

ivalua

Managing Director, Art of Procurement. Everything procurement delivers – from savings to risk mitigation to value – is predicated on having access to clean, trustworthy data. How 100% spend insight is not the same as 100% spend under management. Supplier Management

Scottish Councils Deliver Streamlined Contract and Supplier Management

Jaggaer

B oth councils adopted JAGGAER’s contract lifecycle management software , which complemented their use of (public contracts Scotland) PCS-Tender. The Council made a strategic decision to implement JAGGAER’s contract lifecycle management software across its whole contract portfolio.

AI for Better Supplier Collaboration: First, Get Your Data in Order

Jaggaer

The result has been isolated applications, e.g. for supplier management and for P2P working in parallel with siloed data sets and limited or no synergy. In the worst-case scenarios, this can lead to arguments about whose data is the “truth”. million per 100 suppliers.

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

HICX Solutions

Just who are my suppliers ? Look into a supplier database and you might find ‘FedEx’ and ‘Federal Express’ listed as two separate entries. Are there really three suppliers? Or is there one supplier, with two – or maybe three – operating units?

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What is Vendor Master Data Management and Why is it Important?

HICX Solutions

Gaining a better understanding of who your vendors are allows you to improve all aspects of vendor management, such as sourcing, category management and payment. Why organisations struggle with Vendor Master Data Management.

Big Data Analytics: A Key to a Successful Supply Chain in the Next 5 Years?

Cerasis

Big data utilization is the wave of the future for all aspects of business including supply chain management. The problem is that not every company has the resources to begin the process of big data management and have yet to see the extent of benefits it can provide to analyze and use such data management. There are several direct and indirect benefits to using big data analytics for your supply chain. Immediate Benefits of Big Data Analytics.

What Makes a Supplier “Strategic”? Not Spend Volume.

Jaggaer

The recent disruptions to supply chains caused by the coronavirus epidemic in China have given supply managers the world over pause for thought. Leverage your supplier management for maximum benefit with the white paper: How to Achieve Holistic Supplier Management.

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Altering the When, How and Why of Supplier Information Management

ivalua

Supplier information is typically viewed by procurement organizations as one of two things. It is either a data input, such as what we gather and use in spend analysis, or it is a process by-product, such as the information we gather from prospective suppliers during strategic sourcing.

Unlocking Innovation from Your Supply Chain – Lessons from Formula 1 Racing

ivalua

Afrika Morris, Senior Field Marketing Manager UKI at Ivalua. F1 Veteran, Mark Gallagher highlighting the impact of supplier innovations on pit stops – resulting in team success. Adopt a Collaborative Approach – Embrace suppliers as partners, not vendors.

Identifying and Mitigating Supply Chain Risk in the Age of COVID-19

Jaggaer

To learn more about how supplier management can help navigate turbulent times, download our Holistic Supplier Management whitepaper. How can we look at s upply c hain risk management more critically ami d COVID -19 , and react quickly ? Supplier Managemen

How To Save Money With Supplier Information Management

HICX Solutions

There’s no doubt that good management of supplier information can result in increased productivity and improved profitability. How you can improve efficiency with supplier information management. Calling suppliers due to missing email addresses/phone numbers.

What You Really Need To Know About Your Suppliers – And Why

HICX Solutions

The importance of structured and effective supplier management has increased for major organisations over the years. The regulatory and compliance burden has increased in recent years in terms of organisations needing to understand much more about their suppliers and supply chain.

Navigating COVID-19: Mid-term Procurement Strategies for a Managing the Crisis

Jaggaer

According to the Financial Times , over 3,300 suppliers in China received force majeure certificates in February alone. It’s also important to develop recovery plans with your suppliers and make sure that they’re clearly outlined in contracts. Connect Suppliers Digitally.

Ensure High-quality Supplier Data By Focusing On These Four Key Areas

HICX Solutions

Anyone who has tried (and struggled) to use their ERP to manage vendors will know how confusing this is. A few years ago however, many procurement functions would have battled through this pain with gritted teeth and attempted to manage their suppliers using transactional systems such as P2P.

Coronavirus Highlights Fragility of Global Supply Networks

Jaggaer

In the auto industry, China is the world’s major supplier of parts. It shipped parts with a value approaching $35 billion in 2018, according to UN data , including $20 billion in parts to the United States alone in 2018 , most of them going to assembly lines.

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How AutoNation Developed A ‘Single Source Of Truth’ For Its Supplier Data

HICX Solutions

Ask anyone in procurement to name their biggest challenge, and the answer is usually the same: data. This meant that each time the supplier relationship was extended to a new region, the data had to be duplicated into a new system. Data redundancies and inefficient processes. “It’s not until you’re in the midst of it that you realize the importance of not underestimating the data,” according to a senior AutoNation executive.

Corporate Sustainability: Why Procurement Should Pave the Way

Jaggaer

Get the details on building sustainable supplier relationships. “Businesses saw over $1 trillion in financial impacts as a result of environmental risks as reported by suppliers.” Looking at suppliers as individuals may prevent you from seeing the forest for the trees.

Why An Holistic Approach to Suppliers? Your Questions Answered

Jaggaer

Last week, Director of Product Management Georg Rösch hosted a webinar that asked the question, “Why is it important to take a holistic approach to supplier management?” It’s just another example of suppliers becoming a larger and larger part of every business. .

Artificial Intelligence to Improve Decision-Making in Procurement

Jaggaer

Some of these are supported by artificial intelligence, for example to map inbound supplier invoices for automated data entry. Once you have automated a data entry process, there is nothing further to gain from it: it’s a one-off.

Single Suite vs Best-of-Breed: Sorting Myths From Reality

HICX Solutions

Nic Walden, a senior advisor in The Hackett Group’s procurement advisory program, says that while an all-in-one package may offer more across the board, “if you need to be the best in supply chain risk management then a best-of-breed solution in that area might actually be better for you.”

Digital Foundations: Fixing the Basics

HICX Solutions

In this blessed state, procurement moves from using descriptive data in a reactionary way towards using predictive data in proactive ways, all underpinned by full automation. Even our higher functions like category management are easily automated in a digitally-enabled world.

Why Maintaining Supplier Data Integrity Should Be One Of Your Top Priorities

HICX Solutions

The importance of supplier data integrity is not a new thing. Organisations have always had access to this data in one form or another, whether on paper records or information stored in spreadsheets or desktop-based software (much of which can now be referred to as legacy software).

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Why using supplier data effectively will spark your growth

HICX Solutions

Much of this stems from the perception that ‘data’ is only an administrative tool, which leads to it being overlooked a lot of the time. Many of them still believe that the end goal is to establish a single system that will enable the use of perfectly integrated data.

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You Can’t Achieve Procurement Success Without A Strong Foundation

HICX Solutions

When it comes to managing your organisation’s suppliers , it’s likely that one of your main concerns is increasing supply chain efficiency. In fact, according to a survey carried out by PayStream Advisors , 39% of enterprise-level (companies with revenues greater than $2bn) procurement and sourcing professionals listed ‘increasing supply chain efficiency’ as their main aim when it comes to managing suppliers.

Strategic sourcing and ‘big data’

ivalua

Big data is more than a buzz term, and if you are a strategic sourcing professional, it is a concept that should not be ignored. Big data is about synthesizing and making sense of information — better and quicker than your competition. Velocity: How quickly do you create data?

Category-based Procurement

Claritum

The sourcing of products and/or services within the Category; the management of suppliers associated with the category; and strategic planning for this category. Depending on the nature of the purchase, within a category, there will be different levels of a supplier relationship.

How can Reputational Risk Originate in Your Supply Chain?

HICX Solutions

It might be tempting to think that the worlds of procurement and reputational risk management are gleefully separate. Each one is likely to be sourcing parts or services from a large pool of suppliers spread across different locations.

Smart Logistics Data: The intelligent supply chain

SupplyOn

Smart Logistics Data enables a change of perspective to look ahead instead of backwards A supply chain has to be agile, robust and resilient. All this requires the intelligent use of data. But how can we really make data “smart”? Obstacle 1: Data problems wherever you look If we take a look at the typical supply chain process, the first thing we see is not “smart” data but a whole lot of data problems. In addition, there is a lack of real-time data.

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Managing Underperforming Suppliers: What You Need to Know

Unleashed

While many inventory control issues can be attributed to inadequate forecasting or the failure to account for volatility of supply and demand, other challenges in maintaining optimum stock levels may be the result of underperforming suppliers. That being the case, what is it you need to know to manage underperforming suppliers? How to identify underperforming suppliers. Managing underperforming suppliers.

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Telltale Signs You Are Using Bad Data

Unleashed

In this digital age where technology and software solutions gather and track billions of pieces of information, data is king. Data provides detailed information on which business can base decisions and it enables them to provide their customers with personalised tailored experiences. Bad data is bad business. While businesses fast-track their digital business and eCommerce efforts, they need to ensure they are using the right data. Warning signs of bad data.

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