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Solving the Procurement Data Dilemma: The future of technology in Procurement

HICX Solutions

In the final interview in our series on ‘ Solving the Procurement Data Dilemma ,’ Gren Manuel speaks to Nic Walden. Nic leads the procurement executive advisory programme in the UK for consultancy The Hackett Group. Technology to drive Procurement as a strategic function.

Understanding the Importance of Strategic Sourcing

USC Consulting Group

Sourcing is a key component of your Supply Chain – perhaps the most important part. As companies are navigating an increasingly turbulent yet robust economic climate, businesses in manufacturing, mining and metals, food and beverage, and other industries are looking for ways to reduce raw material procurement spending and offset rising material costs. That’s where Strategic Sourcing comes into play. An important lever for modern organizations.

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Artificial Intelligence to Improve Decision-Making in Procurement


Our recently published report, “ Digital Transformation in Procurement: How Close Are We? ”, which is based on a global survey with responses from 391 CPOs and other senior procurement decision makers, showed that most progress had been made with the automation of supplier management, procure-to-pay and spend management processes. Strategically, a digital assistant simplifies strategy development and execution within the procurement function. Download it here now.

Why The Time Is Now for Sustainable Procurement


Earth Day (April 22nd) is a celebration of commitment to creating a safer, healthier and cleaner world, making it a natural time to reflect on the power and value of sustainable procurement programs. With that, global businesses are committing to key sustainability objectives such as reducing greenhouse gas emissions , eliminating slave labor , avoiding plastics , conserving water used in production , tapping into renewable energy sources and more. Procurement at the pivot point.

Inefficient Procurement processes are costing UK businesses almost £2m per year, reveals research


29 th August 2019, London – Research from Ivalua , a leading provider of global spend management cloud solutions , has shown that Procurement, supply chain and finance professionals are spending almost a third (31%) of their time dealing with inefficient paper-based or manual Procurement processes, which is costing UK businesses on average £1.94m annually* and limiting Procurement teams’ ability to deliver more strategic value. Ivalua is the Procurement empowerment platform.

Top 10 Manufacturing Trends For 2019


Bottom Line: The top 10 manufacturing trends reflect how manufacturers are planning to achieve their goals of revenue growth, operational improvements, digital transformation, and launching new products and services in 2019. Manufacturers who excel at orchestrating analytics, Business Intelligence (BI), quality management and real-time monitoring to improve manufacturing strategies are growing 10% faster than their peers. to manufacturing value added in 2020.

Augmented Procurement is Making the Future Our New Reality


Now this idea of augmented procurement – and eventually autonomous procurement – has surfaced , and many are asking when the change will happen, and more importantly what it means for them. . Now, just imagine that technology specifically tailored to procurement.

Hello Automated Procurement, Goodbye Tedium


Many tasks in procurement are repetitive, tedious, time-consuming and, when performed by humans, highly error prone. Automated procurement means that procurement professionals are released from tedium while organizations enhance their efficiency and release additional value.

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


Procurement teams can lead the way in building a robust system into the future. This should serve as a wakeup call for procurement teams to take a look at the clauses in their contracts. Procurement and legal teams need well prepared, highly organized document management systems to systematically look at force majeure clauses are written. supplychain #sourcing [link] Finally, look for new sources of supply now, before you need them.

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. At REV2019 , JAGGAER hosted a fireside chat panel discussion with several procurement professionals to discuss these exact dilemmas and gather expert opinions. For more on leveraging data, download JAGGAER’s 2019 Digital Procurement Survey Report. Download it now. Events Source-to-Pay

The Procurement Economy in 2019: The UK and the European Union


and the European Union and examines how procurement organisations can best prepare in the new year. With Brexit looming and the possibility of World Trade Organisation rules coming into effect in UK/EU trade, the European procurement and supply chain markets look unsteady. Combined with increasing isolationism in other parts of the world, procurement teams dealing in the EU and UK will have to take steps to prepare for unstable markets. Download your free copy here!

What is the return on ERP implementation? Results from our research

Supply Chain View from the Field

ERP systems are designed to integrate transactions from finance, human resources, procurement, operations, sales and marketing, logistics, and other functions in a firm. ERP systems were developed from material requirements planning (MRP) and manufacturing resource planning II (MRP-II) systems to supplement the need of an automatic interface between operational activities and corresponding accounting transactions. procurement activities.

The Secret to Effective Supplier Onboarding – Tiering 


A tiered approach to supplier onboarding helps Sourcing and Procurement leaders develop a sensible list of checks and resources. Internally driven qualifying checks include requirements by departments such as Legal, Finance, Engineering, Procurement and Diversity. It needs Procurement’s facilitation to gather and reconcile information into a supplier digital identity. . Onboarding to Bridge Upstream and Downstream Sourcing .

Managing Supply Chain SLAs Through Blockchain: Is Blockchain the New Incoterm?


Therefore, having an indisputable source of information, such as blockchain technology, may be used to develop consistency and clarity in managing supply chain SLAs. DOWNLOAD WHITE PAPER. Blockchain Eliminates Uncertainty Blockchain has great potential in eliminating counterfeit products and tracking freight, which costs upward of $250 billion annually, reports Share America , as well as manufacturing, processes.

Collaboration in the Automotive Industry: Enabling Intelligent IT-Managed Supply Chains

Talking Logistics

Centralized and harmonized way to exchange data between original equipment manufacturers (OEMs), suppliers, and forwarders instead of bilateral exchange via individual solutions. Reasonable linking of various data sources (= intelligent integration) in order to have continuously-updated data with high significance and quality instead of fragmented and isolated information.

Moving Up The Corporate Ladder, Does Your Freight Spend Have A Seat At The Table?

4WL Consulting

The previous decade has seen many companies, mainly those handling manufacturing operations, change how sourcing of direct materials is executed – from an administrative function to a somewhat strategic procurement approach that has seen the creation of a new position “the Chief Procurement Officer.” There’s been a shift from executing daily freight transactions to integrating top-level corporate planning and procurement strategies.

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Use of Blockchain in Supply Chain & Logistics: Looking to Examples Across Industries for Better Understanding


DOWNLOAD WHITE PAPER. Blockchain is entering a phase of development that will affect every aspect of supply chain and logistics management, ranging from procurement to forward logistics and beyond. Retail Blockchain – Applications of blockchain technology in the retail supply chain go back to the sourcing of a product, validity, sustainable practices during manufacturing, movement through international trade, returns management, and recycling or reclamation of raw materials.

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


Supplier management has become increasingly cross-functional – various stakeholders outside of procurement will have a say for many more categories, requiring collaboration, knowledge sharing and complex approval processes; and. You cannot manufacture cars with 99% of the components, and if you do not have an immediate alternative source of supply for the other 1%, you could soon be in trouble.

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Why Blockchain Within The Supply Chain Makes Perfect Sense


Download white paper. Multiple manufacturers, multiple relationships, multiple distribution models, multiple contracts. Instead of having to deal with an ineffective point-to-point communication system like EDI and the complexity of reconciling multiple data sources with multiple permission models, Distributed Ledger Technology (DLT) provides a singular mechanism to securely integrate, harmonize, and synchronize data for all participants.

Dr. Muddassir Ahmed on Innovation in Supply Chain Education


My professional history in supply chain has mostly been in manufacturing and sales and operations planning. To me this feels like a white paper on competitive strategy about how supply chain is where you’re going to get the best source of differentiation, cost cutting and ultimately, improved thinking on product, sales and marking, HR, and everything else. There’s a big gap in manufacturing: it’s a huge industry with a huge body of best practices.

Supply Chain Innovation: How to Build an Award-Winning Supply Chain


Source: Supply Chain Digest. As a leading manufacturer of heating, ventilation and air conditioning (HVAC) systems, Lennox Residential’s business strategy depends on exceptional parts availability and customer service. Source: Lennox. A single model for both intermittent finished goods and service parts now provides end-to-end visibility across the entire chain, from stores to manufacturing plants and upstream suppliers.

ThankX Delivery Services!

Supply Chain Game Changer

Next, Leto connected Colon to an app developer (Divine Digital Agency), which created an effective, engaging, and interactive app – now available on the itunes, Apple, and Google stores (“ThankX”) for download! The Creator (God) is the greatest source of energy that there is.

97% of supply chains disrupted as a result of COVID-19


In response, the majority (73%) of organizations are now planning major shifts in supply chain and procurement strategy post-pandemic, including supply base expansion (38%), reductions in supply chain globalization (34%) and increases to inventory levels (21%). Fifty-nine percent of respondents believe the Fortune 500 should reduce globalization by localizing supply chains and bringing manufacturing back home. “We The full report is now available for download.

Bristlecone Flash – February 2019


Download the Bristlecone Diagnostic Service brochure. BRISTLECONE DEPLOYS SAP ARIBA STRATEGIC SOURCING SUITE. It took a mere 18 weeks for Bristlecone to lead a Middle Eastern steel manufacturing client on a transformation journey that took them from manual processes to a powerful new procurement solution. AMERICAN CORPORATE APPAREL COMPANY SELECTS BRISTLECONE.

2016 Supply Chain Trends: 7 of 12 Trends that Will Drive Supply Chain Management in 2016


We kick off today a month-long focus on trends in the following categories: Manufacturing, Manufacturing Technology, Supply Chain, Logistics, and Transportation Management. We have already covered the top 6 trends for 2016 in manufacturing. Employ comprehensive solutions that support the entire source-to-settle process and create value for all parties involved in it. 2016 Supply Chain Trend #6: Procurement’s New (read Bigger) Role in the Supply Chain.

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6th Annual Chief Supply Chain Officer Forum – Europe

Supply Chain Movement

Europe’s annual meeting of the leading supply chain executives featuring the biggest names at leading retailers and manufacturers. Virginie Vast, Head of Vodafone Asset Management Services & Tactical Sourcing from Vodafone Procurement Company. >> Download the brochure here. >> 6th Annual Chief Supply Chain Officer Forum – Europe. Datum: 14-16 October 2015. Locatie: De Maaspoort Theatre, Venlo (NL). Organisatie: Eyefortransport.

Getting that “Swing” in Supply Chain Management

Talking Logistics

What you find instead are functional groups — such as Manufacturing, Distribution, Sales and Marketing, and Procurement — operating in silos, like a boat full of rowers each doing their own thing. Having leaders with cross-functional responsibility — such as having Manufacturing, Logistics, and Procurement report to a single executive — also helps to drive alignment. Step 2 – Develop Metrics and Data Sources.

The end of just-in-time?


The story goes that when Eiji Toyoda, CEO of Toyota, visited American car manufacturers in the 1950s, he was not impressed. This was the start of the famous process of Just-In-Time (JIT) manufacturing, or lean manufacturing as it later became known. This is why JIT became the dominant mode for manufacturers of not just cars but a huge range of items, from electronics to fast fashion.

Like A Green Lump of Clay….

Supply Chain Shaman

To see the what I built, check it out on SlideShare or view/download it in the SCI Community ). In the supply chain, variability and volatility come from many sources. The best way to start the design of an agile supply chain is to look at the sources of variability and market volatility that your supply chain encountered in the prior year. These can be shift in the channel, issues in manufacturing, increasing variability in transportation, or a shift in commodity prices.

A Don’t Touch Supply Chain Strategy Must Now Dominate The Future!

Supply Chain Game Changer

You download their app, take the goods off the shelf as you need and as you leave the store your purchases are automatically billed to you. In Manufacturing, Industry 4.0 Advanced robotics, smart sensors, automated movement, electronic connectivity at every step, artificial intelligence, and the internet of things will enable the continuation of manufacturing regardless of whatever circumstances are going on in the world. Subscribe Here! Email Address.

Ivalua NOW – Virtually A Successful Event! (Part 1)


In the exhibitor hall you could visit the dozen or so partners, and ask to speak to a real live person, or watch videos, download information and so on. And procurement and supply chain is suddenly the top priority for organisations – “I’ve never seen a better opportunity in my life to elevate the stature of procurement”, he said. . Manufacturing and public sector options are available now; financial services, healthcare and construction/engineering are coming this quarter.

How to Choose the Best RFP Software

EC Sourcing Group

Even if you’re working with the best team, the process is still a lengthy one, and it may be a part of procurement that you don’t look forward to. Firstly, the decision will be more than requesting a demo and downloading a trial.

Is Product-Centric QMS Right for Your Company?

Arena Solutions

Most product quality problems are fixed by changing the product record—the product design and the documentation that describes how to manufacture, test, and package the product. PRODUCTION SOURCING. An example of production outsourcing support: If you release a revised sterilization standard operating procedure (SOP), your partner gets notified and uses their valid credentials to download that information immediately. An example is a manufacturability enhancement.

28 supply chain professionals share the biggest challenges of supply chain management

6 River Systems

Our supply chain involves a contract manufacturer, a third-party testing facility, warehouses to store inventory and a freighting company. For example, if my contract manufacturer is late with an order it can cause me to incur excess costs with the freighting and warehousing companies, respectively. John Moss @EnglishBlinds John Moss is the CEO of English Blinds , the manufacturers of bespoke window blinds and shades.

Integrated Planning: Is It Rubbish? Be Careful What You Ask For….

Supply Chain Shaman

Each are good at localized planning within a focused area of demand, supply, network design, transportation planning, material sourcing or finite scheduling. While regional supply chain teams could focus on operational decisions–deployment, DRP/MRP logic, and finite planning/scheduling within manufacturing, and transportation routing–global teams must get good at tactical planning globally to drive synergies.