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The manufacturing sector is facing unprecedented volatility in global trade, with tariffs becoming the latest in a series of uncertainty drivers that are impacting virtually all industries. Manufacturing plants are deeply entrenched; tied to infrastructure, suppliers, skilled labor, and regulatory requirements.
In February, Klaus Niebur, the director of global supplychainriskmanagement at Autoliv, and Jan Thiessen, the managing director at targetP!, spoke on best practices on supplychainriskmanagement at ARC Advisory Group’s Digital Transformation in Industry conference.
The survey also found that 9 in 10 supplychain leaders are seeking 3PLs with a consulting offering that provides guidance in setting up their company’s supplychain. These are the top challenges that are driving increased interest in and demand for consulting and managed services. And they must plan accordingly.
For years, supplychains were engineered to be lean. Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Recent years have brought a series of disruptions that exposed vulnerabilities in how supplychains are designed.
by John Westerveld Reason #5: Not having a supplychainriskmanagement process. Over the years, working for and with numerous manufacturing companies, I’ve seen many supplychain practices that cost companies money. Supplychainriskmanagement is like insurance.
states, obvious disruptions to supplychains and supplychainriskmanagement were a given. Many of the states affected contained key ports and supply destinations, as well as transportation and logistics hubs. Don’t let your supplychain get blown away by any category of winds.
Manufacturing Sectors Client Alert Foreign adversaries are increasingly threatening vital domestic industries through current and potential future restrictions on critical mineral exports. government procurement of critical components. Background Nickel and titanium are critical to the aerospace manufacturing sector.
Ivalua Blog [ivory-search] Weathering Future Disruptions: 8 Steps to Building SupplyChain Resilience February 8, 2023 | | Manufacturing by Doug Keeley In the face of an unprecedented global crisis, Procurement stepped up to become a crucial driving force for business continuity. Why is visibility so important?
Customer service, parts shortages, unprecedented inventory growth, and warrant management can actually take up internal sources and affect profit margins. As a result of the intensifying battle, more and more companies announced plans or are considering shifting manufacturing from China. Source: Vietnam Briefing.
Learn the best practices for supplychainriskmanagement in 2024 from Resilinc, the gold standard for supplychain resiliency. As riskmanagers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supplychain practices.
How is AI changing supplychainriskmanagement , and what does it mean for the future? These questions were part of a recent discussion featuring Exiger CEO Brandon Daniels about AI impacts on supplychains. Arjun Mehta: How is AI impacting supplychainriskmanagement?
Ivalua, a global leader in spend management, today announced that it has been selected by Swedish steel manufacturer SSAB to further improve the efficiency of its procurement processes and uphold and strengthen supplychainriskmanagement thanks to Ivalua’s Source-to-Contract (S2C) solution.
In this blog, we explore the different types of predictive AI models for supplychainriskmanagement. In our second AI blog of the series, Predictive AI vs. Generative SupplyChain AI , we looked at the difference between predictive AI and generative AI. How does Resilinc use regression models?
SupplyChainRiskManagement Solution from riskmethods. If I was asked to vote for the most interesting solution set that has come to the fore over the last few years, my vote would be for supplychainriskmanagement solutions. SupplyChainRiskManagement Vendors.
Discover how Resilincs agentic supplychainriskmanagement is transforming disruption response with AI-powered supplychainrisk solutions built for speed, scale, and compliance. What modern supplychains need isnt just more datathey need intelligent action.
The supplychain landscape in 2024 was characterized by significant transformations and challenges, with resiliency as a key theme across all industries. To strengthen resiliency, companies invested in AI and machine learning, made strides to reduce dependency on single sourcing, and prioritized nearshoring and reshoring efforts.
Do you ever get confused when people use the terms supplychainriskmanagement (SCRM) and supplychain resilience? It’s common to hear industry practitioners, stakeholders, solution providers, and analysts use these terms interchangeably; for example, an SCRM program and a supplychain resilience program.
Supplychainriskmanagers have a dilemma. Journalist Thor Benson reports that tuning out bad news might be good for their mental health; however, riskmanagers know tuning out bad news wouldn’t be good for business. Missed opportunities are another equal source of extraordinary risk.
As a supplychain practitioner, do you notice something missing? Where is the supplychain nodes? 3PL’s, Contract Manufacturing, Suppliers, Logistics providers…. SupplyChains have primarily stayed on the outside of this challenge. My thoughts on what supplychain leaders need to do starting TODAY!
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. Why is visibility so important?
Raising interest rates leads to manufacturers deciding to forego capital investments; construction slowing down; declining sales of white goods, cars and trucks; and pressure on banks. This is an 80% drop year on year drop. When the Federal Reserve (the Fed) believes inflation is too high, they raise interest rates.
Managing exceptional risks requires insights and visibility of key information – this gives you the ability to minimize the impact of these unexpected, yet huge disruptions. It is a necessary part of supplychainriskmanagement. But what are the characteristics of a resilient supplychain?
It demonstrates that reputation is a strategic asset and reputational dependencies exist in the supplychain. Practice Procurement Relationship SupplyChain Integration SupplyChainManagementSupplyChainRiskManagement Triad'
” There are, however, some well-known dragons supplychainriskmanagers will continue to encounter. ”[2] It’s not just supplychains that are realigning, columnist Ezra Klein insists the whole world is realigning. ” Reputational risk. ” Value at Risk.
In Part One of the series , Michael observed that standard sourcing solutions struggle in efforts to support direct materials sourcing because of specific challenges in the software design and why. Much of this has to do with needs for deep integration and two way flow of data streams.
Not surprisingly a company this big, delivering different solutions to a variety of industries, has a complex supplychain. They source from approximately 15,000 suppliers with a sourcing spend of over €7 billion. Customization is provided for 5 different supplychains (for example, make-to-order, make-to-stock, etc.)
Over the past two years, I’ve written extensively about the growing importance of supplychainriskmanagement and supplychain mapping. See for example: Rethinking SupplyChainRiskManagement. Doing Nothing on SupplyChainRiskManagement.
These solutions use natural language processing, for example, to read online publications and other data sources, make sense of what they read, contextualize the data into information, and report supplychain disruptions caused by weather, geopolitical events and other hazards in near real-time.
Zhongron supplies aluminum alloy wheel hubs to another company, Citic Dicastal Wheel Manufacturing Co., The post GM Supplier Factory Explosion: Thoughts on SupplyChain Visibility and Responsibility appeared first on Talking Logistics with Adrian Gonzalez. which is a supplier to General Motors (GM).
Multiple people familiar with the matter say investigators found that the chips had been inserted at factories run by manufacturing subcontractors in China.” ” Aside from national security implications, the main lesson to be learned here is how vulnerable companies are to risks associated with their supplychains.
The SupplyChain Matters blog provides commentary relative to July’s global manufacturing PMI indices relative to data indicating declining momentum, and some contraction among specific global regions. Morgan Global Manufacturing PMI® report, a composite index produced by J.P. Global Wide Production Activity. slipping 2.3
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. Industry: Manufacturing. Healthcare.
How the SupplyChain Crisis is Impacting Businesses and Consumers. 66% of consumers are concerned that supplychain issues will never end ( Chain Store Age ). 82% of people have concerns that the supplychain will ruin life plans, such as birthdays, vacations, holidays, and the purchasing of necessary items.
In other news… SupplyChainRiskManagement Now a Priority for Most Businesses ( Accenture ). Several reports have been published in recent years underscoring the growing importance of supplychainriskmanagement. Another example of the wrinkles in our lives , and how we respond to them.
Yet, numerous global supplychains today still struggle with mapping their global suppliers. For example, in the life sciences industry, biopharma companies increasingly rely on contract manufacturing and development organizations (CDMOs) to address biologics manufacturing production and capacity demand.
We are entering an era where it is becoming possible to detect supplychainrisks much more quickly. AGCO is a global leader in the design, manufacture and distribution of a wide range of agricultural equipment. A case in point is offered by AGCO.
What is supplychainriskmanagement? Supplychainriskmanagement is the process of identifying and managing issues within a supplychain. ordinated approach to implementing strategies to manage both daily challenges and unique risks.
In this video hear, Gary Dietz, Manager, Global Logistics and Supply Integrated SupplyChain and Logistics, Kennametal, as he discusses the challenges his company faces in gaining full visibility of supply and demand, and in dealing with increasing supplychain volatility.
Unfortunately, most supplychain executives and their teams focus predominantly on just two factors, the tradeoffs between cost and service, with risk rarely entering the conversation — until a disruption occurs and then everyone goes into panic mode. And the first step is asking “What are the risks?”
Heres your guide to NDAA for aerospace and defense supply chainsand how Resilincs aerospace and defense supplychainriskmanagement solutions can help you navigate these changes. It covers everything from funding for defense programs to weapons procurement and national security initiatives.
Two recently published studies identify the top disruptions that impacted industry, business and global supplychains during 2024 and our expected to be present in 2025. This data was compiled from Resilincs EventWatchAI , a risk monitoring database provided to customers.
SupplyChain Disruptions: A Survival Guide. Do you feel supplychainriskmanagement is too complicated to implement? This article will show you how one of the worlds leading companies put a theory into practice and survive many supplychain disruptions. Case Studies. Gather around! Limitation.
In countless surveys over the past decade, manufacturers and retailers rank “improving supplychain visibility” as one of their top priorities. Yet, despite their focus on this effort and advancements in technology, achieving timely, accurate, and complete supplychain visibility remains an elusive goal for many companies.
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