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Supply chain sustainability is increasingly important for companies facing expectations from investors, regulators, customers, and employees. A lack of standardized ESG metrics across industries and regions makes it challenging to consistently evaluate and compare supplier performance. Cost pressures can complicate ESG efforts.
Sustainability is high on the list of favorite corporate buzzwords. However, as carbon taxes and emissions reporting requirements continue increasing, supply chain professionals face mounting pressures from inside and outside their organizations to measure and improve performance against new, nebulous sustainabilitymetrics.
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.
The DOE is still issuing large federal loans to startup companies, Novonix a synthetic graphite startup just received a $755 million loan to support its mission and reach its goal of producing 31,500 metric tonnes of synthetic graphite. Despite recognizing these risks, only two companies have comprehensive traceability commitments.
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.
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.
As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
As supply chains become more interconnected and risks more dynamic, traditional procurement tools fall short. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle. What’s the technology behind autonomous procurement agents?
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.
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 digital procurement and the capabilities that matter most.
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.
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. Click here!
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supply chain disruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
When we measure the bullwhip impact (in my class on outside-in process thinking), the bullwhip between manufacturing and procurement is 2-3X. Most organizations make small improvements but struggle to sustain value. Functional metrics align to bonus incentives, but progress in supply chains remains evasive. Signal Latency.
As a Principal FMCG Supplier, mastering this balance is essential; not just for growth, but for long-term sustainability. Do Set Clear KPIs and Governance Structures : Establish transparent metrics for sales, coverage, and service levels. Ensure margins are fair and sustainable. I would also love to hear your thoughts!
Supply chain efficiency is the cornerstone of success and involves the effective management of processes, resources, and technologies from procurement to production, transportation to warehousing. Let’s break down these key components: Procurement: This is where it all begins.
As regulations across the globe strengthen, the pressure to collect, report, and organize emission-related metrics has never been higher. The Corporate Sustainability Directive will also require companies to report on materiality conceptual guidelines, double materiality, impact materiality, and financial materiality.
Procurement and Supply Chain Management are essential functions that can help companies navigate these challenges, but they are often siloed and operate in separate departments. Their metrics are often misaligned as well – supply chain focuses on service and procurement focuses on the cost of acquiring materials and services.
Through a Think Tank technology briefing, SAP demonstrated how integrating SAP Sustainability —solutions—including S/4HANA Green Ledger, SAP Ariba, and SAP Taulia—can help companies tackle Greenhouse Gas Protocol Scope 1, 2, and 3 emissions with speed and scale. C above pre-industrial levels.” C above pre-industrial levels.”
Driving Sustainable Growth Through Supply Chain Resilience. The question is, how do we navigate our way out of this never-ending chaos to continue driving sustainable growth? Driving Sustainable Supply Chain Change. Driving Sustainable Growth Through Supply Chain Resilience. HOW DID WE GET HERE? MORE FROM THIS EDITION.
If you’re evaluating procurement technology or exploring ways to drive more value from existing systems, chances are you’re looking beyond tactical fixes – you want a smarter, scalable strategy. Misaligned priorities across finance, legal, and procurement create friction that delays decision-making and reduces impact.
Only supply chains that are agile, adaptable, and aligned provide companies with sustainable competitive advantage.” Reward teams for cross-functional metrics. We like the metrics of growth, on-time and in-full orders, operating margin, inventory turns, and Return on Invested Capital (ROIC). ” Hau Lee, October 2014.
Nowadays, no one could deny that, businesses today expect procurement teams to drive value beyond cost savings. As a consequence, procurement leaders are constantly looking for ways in order to enhance their procurement process and make it more sustainable. And so, they track an array of metrics such as KPIs.
What is procurement? In simple terms business procurement is the process of locating and acquiring goods and services from external sources for the business to use. Procurement activities include planning, sourcing, and negotiation, along with risk management, legal and value analysis. Procurement in 2021 and beyond.
Koganti urged the procurement audience to look for whats referred to as “foresight function” in planning tools, which is capable of enhancing data analysis, scenario generation and trend identification , allowing for more informed and proactive decision-making, albeit with human oversight.
Featuring Our 12 Best Procurement Articles! Procurement and Sustainability are your business’ Yin and Yang. Procurement and Sustainability are two disciplines and business functions that exist in a perfectly harmonious contradiction. Procurement is fundamentally centered around the act of acquisition and/or buying.
Companies are being pressured on all sides to commit to Net Zero and CPOs should build their Net Zero goals by evaluating sustainabilitymetrics into all aspects of their procurement decisions and processes. Now is the time to act, and to engage your supply chain on this important global issue. Sounds interesting? Sign up HERE.
The Demand for Carbon Accounting The push for sustainability isn’t new, but it has reached a tipping point. Tesco and Walmart have announced procurement policies aimed at reducing carbon emissions and promoting sustainability throughout their extended supply chains. Retailers are following suit. In the U.S.,
The landscape of public sector procurement has undergone significant transformation in recent years, driven by advancements in technology, evolving regulatory frameworks, and an increasing emphasis on sustainability. Predictive analytics powered by ML helps organizations anticipate procurement trends and identify potential risks.
Several factors contribute to this such as ESG (Environmental, Social, and Governance) initiatives by companies opting to conduct business with suppliers with more sustainable practices, or push by the governments for domestication or near shoring of supply chains. If not, S&OP can risk becoming increasingly irrelevant!
As businesses strive to enhance efficiency, resilience, and sustainability, the demand for skilled supply chain professionals has never been higher. Conversely, a student who quickly grasps procurement strategies can be challenged with advanced case studies and leadership projects.
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.
Top 3 Procurement Technologies to Embrace in 2025 Staying ahead of key procurement technology and advancements is essential for CPOs who want to improve spend cost reduction, drive strategic value, and navigate the increasingly complex procurement landscape.
Key elements to include: Sustainability Goals and Metrics: Define clear sustainability goals aligned with the company’s overall objectives. Introduce relevant metrics for measuring environmental impact like carbon emissions, water usage, and waste generation. Consider minimal packaging designs to reduce waste.
Supply chain optimization software tracks items as they move through your supply chain and generate alerts at important points to improves decision-making and enhance visibility across the supply chain by integrating various capabilities like procurement, inventory, and customer relationship management.
ESG Sustainability Reporting As procurement’s intelligent source-to-pay and supplier collaboration platform, JAGGAER One enables customers and stakeholders to achieve their environmental, social, and governance (ESG) objectives by simplifying, automating, and embedding sustainability principles directly into our software solutions.
Companies often push aside procurement compliance to focus on more pressing issues. No wonder—procurement often gets tedious and burdened with time-consuming processes. However, ignoring procurement compliance is like ignoring a ticking time bomb. Scroll down to find out: What is procurement compliance?
With this mounting pressure to commit to Net Zero and CPOs goals and incorporate sustainabilitymetrics into all aspects of procurement decisions and processes, businesses are looking to elevate ESG strategies with a mind for climate change, ethical social practices and stronger governance models.
Today’s leaders must juggle a complex array of challenges, from integrating artificial intelligence (AI) and prioritizing sustainability to managing talent pipelines and ensuring supply chain transparency. P2P and Supply Chain Transparency The procure-to-pay (P2P) space is another area where AI is making significant strides.
In August 2020 Gartner published this report “4 Tactics Procurement Can Use to Sustain Influence as Economic Conditions Improve” This blog summarizes the key points of the report which you can read in full, here. Procurement Teams Step-up. A Blueprint for Demonstrating the value of Strategic Procurement.
The value does not have to be equal, but it needs to be real and sustained. Cash-to-Cash Metrics. Cash-to-cash is a compound metric: (Days of Receivables+Days of Inventory)-Days of Payables=Cash Conversion Cycle. The world would be more sustainable if we clean out our warehouses of inventory that we do not need.
Sustainable manufacturing has become essential for manufacturers to maintain customer loyalty, win new business, and remain competitive in today’s supply chain based marketplace. As a result, many didn’t focus on sustainability or their broader Environmental, Social, and Governance (ESG) plans.
Watch our on-demand webinar to discover how procurement can lead the way in ESG and decarbonization, and learn from experts about driving sustainability transformation across your supply chain. NFRD left gaps in capturing the full scope of corporate sustainability impacts, and the CSRD addresses these shortcomings.
Procurement is one core process area being focused to better manage today’s fluctuating change, with key performance metrics leading the way to assessing and managing procurement performance. The Basics of Procurement KPIs. Every KPI needs a clearly defined goal. Supplier KPIs.
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