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It creates a single source of truth for your rate management, automating RFQs and streamlining the entire procurement process. billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions. Ready to Transform Your Freight Operations?
We’ve seen AI take over everyday tools and search engines; AI in Sourcing and Procurement is becoming a strategic tool in our kit, At Ivalua, we are helping global procurement teams integrate AI across the Source-to-Pay process, bringing automation, insight, and agility to every step. This is where AI can make a huge difference.
It creates a single source of truth for your rate management, automating RFQs and streamlining the entire procurement process. billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions. Ready to Transform Your Freight Operations?
They prepare equipment for maintenance, do isolation (disconnect a piece of equipment from the flow of chemicals by closing valves), look at quality or reliability metrics, and do rounds. trillion records from 47 data sources in the Cognite platform. A knowledge graph creates relationships across previously siloed data sources.
Just by embedding analytics, application owners can charge 24% more for their product. How much value could you add? This framework explains how application enhancements can extend your product offerings. Brought to you by Logi Analytics.
Measuring and Improving Procurement Strategy Performance A successful procurement strategy is data-driven andsupports continuous improvement across key metrics such as cost savings, supplier performance, delivery reliability, and ESG compliance. Platforms should support structured collaboration from intake management to invoice automation.
This blog offers a clear, practical overview of what spend analysis is, how it supports strategic sourcing, and why it matters for both direct and indirect procurement. We’ll walk through key benefits, types of spend analysis, steps to get started, and metrics to track—backed by lessons learned from real-world implementations.
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.
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.
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.
Digital procurement streamlines workflows and unifies data, enabling faster sourcing, better collaboration, and improved accuracy. Digital procurement is the use of digital technologies to enhance, automate, and optimize procurement processes across the entire source-to-pay (S2P) lifecycle.
It creates a single source of truth for your rate management, automating RFQs and streamlining the entire procurement process. billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions. Ready to Transform Your Freight Operations?
However, rates can be a noisy metric, as fluctuations in haul lengths and inflationary cost inputs can distort the picture. SONAR aggregates data from hundreds of sources, presenting the data in charts and maps and providing commentary on what freight market experts want to know about the industry in real time.
Safely Mine Your Supply Chain Data with GenAI Watch the Demo Myth 3: Generative AI is best as a black box At first glance, the prospect of generative AI supporting a 100% automated workflow might seem like a desired goal for your supply chain processes. For example, suppose an order for a key customer is going to be late.
Unlike traditional tools that often operate in isolation or rely on rigid workflows, AI connects the dots between disparate data sources, providing a more comprehensive view of procurement activities. AI in procurement use cases : Analyzing data from multiple sources to predict demand trends with greater accuracy.
Jump to sales, marketing, and finance demo videos here Traditional Demand Planning Challenges: Current demand planners can get bogged down in the daily grind of gathering, organizing, and analyzing the sales history for an accurate forecast. They are managing complex spreadsheets populated by multiple sources and stored in too many locations.
For Chief Procurement Officers (CPOs) and their teams, selecting the right Source-to-Contract (S2C) solution is an essential step toward strategic procurement transformation. What is Source-to-Contract? Source-to-Contract (S2C) refers to the initial stages of the overarching Source-to-Pay (S2P) process.
As experts in retail data management and analytics, Crisp standardizes metrics, relationships, and business logic across the retail industry, creating a consistent language that both technical and non-technical teams can leverage in AI applications, including LLMs (large language models) such as CoPilot and ChatGPT, among others.
These ‘ driver metrics ’ can give you an early signal to act on before your outcome is impacted. Reduced OOS is our outcome, but we still need to build out the driver metrics to understand steps leading up to it. Identifying information sources and how you’re going to use them will help you capture data correctly. .
Most leaders seem to track their progress with metrics such as percent of spend managed and digitization levels, defining best-in-class as being the top quartile or similar high percentage. Leaders need to be more ambitious if they are to truly establish Procurement as a source of strategic value. The Importance of Ambition.
Recent policies cover sustainable and ethical efforts, such as sustainable sourcing , diversity initiatives, and environmental impact. Unsustainable sourcing. If your company bids on public contracts, sources materials from overseas, or sells products across the country, your procurement process has to meet applicable requirements.
Therefore, traditional sourcing is often reactive: a procurement manager reviews a purchase request , finds a supplier, negotiates terms, and moves on. Then, create and carry out a specific category strategy through sourcing and contract management. Procurement should act as a translator between business needs and sourcing options.
Data as the foundation For CPG suppliers, retail data sources span retailers and distributors of all types, each with their own disparate nomenclature and structure. Crisp’s data platform ingests, normalizes, and harmonizes this data from multiple sources, creating a unified foundation for analytics and decision-making.
Before AI can process and automate insights, organizations must overcome the hurdle of disparate, inconsistent, and often delayed data sources that prevent timely decision-making. Learn how to build the foundation for AI success in supply chain planning by integrating clean, structured data with Crisp book a demo today.
Supply chain key performance indicators and metrics are ways in which someone can quantify the performance of their company’s supply chain to gain a better understanding of its strengths and weaknesses. It encompasses all of the supply chain costs associated with your products such as sourcing, producing, transporting, storing (etc).
In CPG data analytics, brands must essentially focus on three key sources of data: observational data, activity data, and sales data. Activities include running promotions, creating displays, and demoing products in-store. One way of putting it is data comprises the various points on a graph. Observational Data. Sales Data.
It’s the reason why On Time In Full (OTIF) is a critical supply chain metric today. Transplace TMS Screenshots (source: Transplace). It’s the reason why P&G, Home Depot, and Target are all redesigning their supply chain and fulfillment networks.
How It Works Advanced routing software ingests and analyzes data from diverse sources, such as order management systems, GPS tracking devices, traffic APIs, and even weather forecasts, to generate optimal routes quickly. This includes route progress, delays, early or missed stops, driver performance, and customer-level metrics.
Velocity metrics often convince retail buyers to add products to their assortments, with some having minimum velocity requirements. Book a demo today. You drive profitability through velocity and fewer markdowns Optimizing your product’s weekly sales velocity is an ideal way to initiate conversations about expansion.
Types of cost efficiency metrics Here are five main types of cost efficiency metrics: Cost per unit : Total cost divided by units produced (e.g., It also opens up time that can be redirected toward growing production or uncovering new revenue sources. cost per product or service).
“Predictive PO On-Time Delivery uses Resilinc’s EventWatch AI and Multi-tier Mapping capabilities to scan millions of news sources to identify disruptive events and from there identify the region or suppliers that could potentially be impacted,” said Yogesh Akolkar, Resilinc’s Vice President of Engineering. “It
Determine the Metrics That Matter. Source: Arkieva. Determining the metrics that matter goes beyond just implementing a ‘pretty’ S&OP dashboard that identifies leading indicators to help drive the business forward. Examples of key metrics include capacity utilization, forecast accuracy, lead times, and turnover rates.
Companies need to draw the line between tactical and strategic sourcing so as not to stretch themselves too thin. Service-level agreements (SLAs) with defined performance metrics and deliverables. Book a Demo 5. Your company is a great source of revenue for the vendor, but they don’t view it as a strategic asset.
This is where Crisp’s semantic layer comes in – a powerful tool that acts as a translator, taking disparate data sources and building a unified, business-friendly language around them. This eliminates the need to recreate metrics and definitions in each tool, saving valuable time and resources.
Both contribute to overall sourcing cost savings. Book a Demo Common Missteps in Achieving Procurement Cost Reduction Cost reduction promises big rewards, but a misstep can lead to greater costs later. Source Strategically When you need to find a new supplier, don’t just choose the cheapest one on the market.
The demo will focus on the interaction and real-time visibility between Replenishment+ and DBR+ that keep all signals and execution actions and metrics aligned to customer demand and ROI. This second webinar will showcase the software to plan, schedule and execute across your supply chain.
Inventory forms a major part of your supply chain efficiency metric as it points directly to your ability of keeping sufficient stocks at a given point in time. This uses a single source of truth that can help balance production capacity and workforce needs to make sure the supply value chain is equipped to meet possible demand.
However, those who regularly use them as part of their strategic sourcing methodology understand the relationship between reverse auctions and success in strategic sourcing. . The Importance of Strategic Sourcing : Why Are People Scared to Use Reverse Auctions? The Importance of Strategic Sourcing: What Are the Benefits?
Implementing procurement software best practices begins with understanding the full scope of the Source-to-Pay (S2P) process – the end-to-end workflow that includes supplier management, sourcing, contract lifecycle management (CLM), purchasing, invoicing, payments and spend analytics. Find Out More What Is Procurement Software?
What-if scenario Planning Tell us your most challenging Replenishment Planning use cases and experience it on o9’s platform Request a demo that will highlight the capabilities that matter to you First Name * Last Name * Email * Phone number Email This field is for validation purposes and should be left unchanged.
As we’ve previously discussed, the best sourcing software can help streamline sourcing and improve winning in reverse auctions, but global sourcing software can put you in touch with a larger field of suppliers so that you can cherry-pick the ones with the most eco-friendly supply chains. . Profit increase.
A supplier scorecard is the result of supplier analysis based on a set of key performance indicators and metrics. Steps for building a supplier scorecard: Focus on the purpose of the scorecard by recognizing and determining the right measures and metrics, or, your KPI’s.
By classifying goods and services into logical groups, procurement professionals can streamline the eSourcing process, facilitating easier identification and comparison of suppliers, negotiating favorable contracts, and expediting the sourcing cycle. Want to learn more?
Request Free Demo In the fast-paced realm of manufacturing and logistics, mobile workflows are the secret weapon for staying ahead of the competition. Mobile workflows ensure that data is captured accurately at the source and automatically synced across all relevant systems, providing everyone with access to the most up-to-date information.
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