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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.
Companies leaning heavily on global sourcing? 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. What Is Agile Procurement? Agile procurement is your lifeline.
E-procurement is a digital process spanning the entire procurement lifecycle, from sourcing and contracting to ordering, invoicing, and payment. Unlike basic online purchasing tools, a sophisticated e-procurement system provides an integrated solution that connects all procurement functions.
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. Access to Unique Process and Asset Capabilities: Some suppliers offer unique skills, technologies, or processes that are not available in-house or through other sources.
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 cost reduction.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manageprocurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manageprocurement effectively. But what does it actually take to regain control and build a procurement strategy that’s both resilient and scalable? How do you begin developing a procurement strategy?
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 digitalprocurement 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.
For global manufacturers, managing direct and indirect material spend can get very complicated very quickly. Multiple legacy systems prevent procurement from standardizing processes and tracking what they’re spending with each supplier.
5000 developers are working on product enhancements and extensions to the SAP spend management suite. Spend Management Takeaways SAP continues to invest in using generative AI to improve the user experience. While SAP has had procurement analytics solutions, last year at Spend Connect Live, SAP announced the Spend Control Tower.
Direct and indirect procurement are two fundamental approaches in supply chain management, each serving distinct functions within an organization. Together, these procurement strategies are essential for robust, efficient business operations. Discover how Ivalua can transform your direct and indirect procurement.
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.
Procurement is in the middle of a tech tsunami. Autonomous procurement. Unified source-to-pay ecosystems. These innovations are converging and transforming how procurement teams operate. The GEP 2025 Procurement & Supply Chain Tech Trends Report breaks it all down. Agentic AI.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to managesourcing, risk, and spend across the entire procurement lifecycle.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to managesourcing, risk, and spend across the entire procurement lifecycle.
While past efforts focused on meeting compliance requirements, organizations are now working to proactively embed environmental, social, and governance (ESG) principles into their sourcing, production, and distribution activities. Building supplier capabilities while maintaining sourcing flexibility requires additional investment.
Procurement became a logical place for leading healthcare systems to focus. As vice president of supply chain and procurement, Mr. Wengert was brought in to drive change. Hospital chains’ approach to procurement lagged far behind the practices employed by manufacturers, retailers, and distributors. “We
As early as next year, procurement and supply chain operations will begin to adopt AI agents, often called “agentic AI,” to work alongside employees to make and execute decisions with precision across procurement and even the most complex global supply chains.
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? See a Demo.
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.
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.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
Traditional supply chain planning, which relies on historical data and reactive adjustments, is no longer adequate for managing these challenges. Amazon is a leader in AI-driven supply chain management. This enables companies to adjust sourcing, production, and logistics well in advance of potential disruptions.
A Procurement System refers to a sophisticated framework or software designed to streamline and automate various stages of the procurement process within an organization. Best-of-breed solutions often specialize in specific aspects of procurement, while full-suite solutions seamlessly automate multiple process steps.
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.
Subscribe Strategic Supplier Relationship Management – Do’s and Don’ts At any given time, working with the resources of any business depends on procuring the right materials at the right time and at the right cost. Sourcing and procurement take on a meaning that transcends the mere buying of materials or services.
A Fortune 500 CPG company partnered with GEP to improve end-to-end category management, optimize direct spend categories, and increase strategic focus on tail spend. The result was a year-over-year savings of more than 3%. This is essential reading for all procurement and supply chain leaders.
Scenario modeling, running what-if simulations to stress-test sourcing, pricing, and inventory decisions, has become a cornerstone of supply chain strategy. AI-powered orchestration platforms bridge this gap with responsive visibility into cost impacts, risk exposure, and sourcing alternatives. They’re the norm.
India’s growth story can continue if it streamlines and effectively manages its supply chain like the iconic dairy brand Amul that recently entered the US market. Direct Procurement : Milk is collected directly from farmers at the village level. This empowers them to have a stake in the business and share profits.
Procurement People should learn the Sales & Operations Planning (S&OP) Process. Procurement professionals can contribute significantly to the S&OP process by providing valuable insights into supply chain dynamics, identifying potential risks, and optimizing sourcing strategies.
In “Navigating the Numbers: Tariffs, AI, and The Future of Supply Chains”, Joe Lynch and Corey DeSantis , BDO’s Logistics and Transportation Subject Matter Expert, discuss the evolving landscape of global trade, the transformative power of artificial intelligence, and strategies for building resilient supply chains for tomorrow.
BSR Releases Their Future of Supply Chains 2025 Outlook The Future of Supply Chains 2025 primer by BSR outlines key procurement priorities and forces of change that will shape supply chains. It emphasizes the importance of cost savings, supply base rationalization, risk management, strategic foresight, and supplier collaboration.
However, transforming raw data into actionable insights remains a significant challenge for many logistics organizations. Below, we dive into their key takeaways and explore five practical ways to make your logistics data actionable, with insights grounded in industry trends and high-authority sources.
There are actions within a supply chains control that can make a real impact without requiring an overnight transformation, and that provide agility, flexibility, and resilience in the face of uncertainty. Design product flexibility to include materials sourced for US and non-US markets or quickly adapt to different sources of materials.
Jack Fiedler, the vice president for digitaltransformation of the global supply chain at Lenovo Lenovo is ranked tenth by one leading analyst firm among a list of global companies with exceptional supply chains. We have a lot of in-house solutions that we’ve built for our digitaltransformation, which is my area of expertise.
Thirty percent of digitaltransformation projects meet expectations. Industry-specific content is available for processes like Source to Settle, Procure to Pay, Order to Cash, and more. IDP converts paper-based documents into automated digital processes. Infor calls this the Value Void.
When both regulations are in effect in 2027, the corporate supply chain within which we currently work will be transformed. They will handle providing accurate data across their operations, including product sourcing, procurement, and transactions, to name just a few.
Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Sudden tariff increases can quickly make a cost-optimized procurement strategy untenable, leaving companies scrambling to adjust. Procurement is another area seeing change.
Before digital tools entered the scene, thats almost exactly what procurement used to feel like. Estimating costs is no longer an art of educated guesses, its transformed into precision science. AI in Procurement Estimates: Explore the ways in which predictive analytics provide tailored insights for better decision-making.
Crisis vs. Continuity, Where the Line Falls Crisis management is the immediate response to something unexpected and high impact. Recovery required offline backups and manual workarounds, highlighting the value of tested, non-digital contingency plans. Companies with dual sourcing and buffer inventory got back on track faster.
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.
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