This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Last year there were widespread strikes of ports on the East Coast, they were halted by a bandaid solution but the United States Maritime Alliance is set to resume contract negotiations on January 7th. It emphasizes the importance of cost savings, supply base rationalization, risk management, strategic foresight, and supplier collaboration.
This lowered hospitals’ margins and created an impetus for hospital chains to begin to tackle costs, but to do so in a manner that did not compromise patient outcomes. We didn’t have enough strategic personnel,” Mr. Wengert said. “We We added about 20 positions, all strategic hires largely from outside healthcare.
Moreover, maintaining optimal service levels while balancing inventory costs is a delicate act that requires sophisticated forecasting and inventory management techniques, underlining the importance of advanced spare parts management solutions.
After over three years of negotiations, India and the United Kingdom have formally agreed to a Free Trade Agreement (FTA), marking a major milestone in their bilateral relations. Amid rising protectionism and geopolitical tensions, the UK-India Free Trade Agreement (FTA) emerges as a strategic accord.
Recruitment AI technology uncovers the most qualified candidates. This technology automates recruiting routines and facilitates natural conversations, resulting in higher productivity and a better candidate experience. Download the eBook to learn more!
That’s because procurement professionals like you are under constant pressure to cut costs, reduce risk, and deliver data-backed insights to the business. 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.
They integrate AI into demand forecasting, inventory optimization, and logistics operations to improve efficiency, reduce costs, and mitigate risks. Companies must react after the fact, often incurring higher costs and reduced service levels. AI-driven logistics optimization has resulted in faster and more cost-effective deliveries.
Why Transformation Is a Boardroom Priority Supply chain management is now a core strategic concern for business leaders. The Shift from Cost-Cutting to Resilience For years, supply chains prioritized cost reduction over resilience. Companies that fail to integrate these technologies risk inefficiencies and higher costs.
Traditional contracts rely on manual verification, third-party intermediaries, and complex legal frameworks, leading to delays, disputes, and increased costs. Intermediary costs Third-party auditors, banks, and brokers drive up expenses. Lost goods, fraud, and counterfeiting cost businesses billions of dollars annually.
Keeping shipping costs under control is no small task — and unpredictable freight fuel surcharges make it even tougher. These added charges help carriers deal with fuel price volatility, but they can shift dramatically from week to week. We negotiate better rates on your behalf by bundling volume across thousands of shippers.
The 25% tariffs on Canadian and Mexican imports and 20% tariffs on Chinese goods are expected to increase production costs, disrupt logistics networks, and force companies to rethink supply chains. Vehicle production costs in the U.S. Negotiating supplier contracts for localized parts production in the U.S.
Your inbox quickly fills with concerned emails highlighting rising costs, delayed materials, and your teams urgent efforts to assess the situation and determine the next steps. manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. For example, U.S.-based
Businesses are facing greater volatility as tariff changes wreak havoc on supply chains, operational costs, and overall profitability. In addition, remaining proactive through supply chain diversification, accurate tariff classification, and strategic supplier negotiations further empowers businesses to adapt to changing trade policies.
Strategic sourcing and innovative solutions are often viewed as two distinct procurement tools, but they should not be seen in isolation. Strategic Sourcing: The Foundation of Effective Procurement Strategic sourcing is far more than simply choosing suppliers. Done well, it can become a key driver of competitive advantage.
Understanding the key differences between these services can help you make a more informed decision, streamline your operations, reduce shipping costs and ultimately improve customer satisfaction. Their services often include negotiatingpricing, coordinating cross-border shipments , tracking goods and ensuring that all logistics go smoothly.
Pharmaceuticals No finalized agreement has been reached for pharmaceuticals, though both parties have committed to negotiate preferential terms. has objected to the tax and indicated that future digital trade negotiations will require its removal or revision. Further negotiations are expected. Tariffs on U.S.
The resulting strategic question for companies is: How do we build resilient supply chains when even the rule-makers are unstable? Increased costs for critical imports—especially steel, aluminum, and electronic components—could further affect vehicle production and margins. to “Can we trust any trade rule will hold?”
Key Takeaways Procurement vs Purchasing: Procurement is a strategic function focused on long-term value, while purchasing handles the tactical execution of buying. Key Takeaways Procurement vs Purchasing: Procurement is a strategic function focused on long-term value, while purchasing handles the tactical execution of buying.
Shippers that rely on imports have obviously been among the first to feel the financial strain as rising costs disrupt supply chains and profitability. Companies now must make strategic decisions regarding pricing, shipping, supply chains and overall logistics. The newly implemented 2025 U.S.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. This blog explains what a successful procurement strategy looks like in 2025, including a working definition, a strategic procurement framework, and the key steps to building one.
Recent and proposed tariff changes are reshaping the landscape at a rapid speed, putting supply chain leaders on high alert and forcing businesses to rethink sourcing strategies, supplier relationships, and cost structures. A highly skilled supply chain workforce is critical to responding quickly and strategically to disruption.
Dive into our curated list of the top 12 blogs from 2024 that will elevate your supply chain knowledge and give you a competitive edge. However, it covers key differences between purchasing and procurement, explores common contract types, and emphasizes the importance of strategic sourcing, supplier relationships, and risk management.
At Ivalua, we help organizations harness AI to transform procurement from a tactical function into a strategic advantage – and our Intelligent Virtual Assistant (IVA) is leading the next wave of AI-driven procurement innovation. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
At Ivalua, we help organizations harness AI to transform procurement from a tactical function into a strategic advantage – and our Intelligent Virtual Assistant (IVA) is leading the next wave of AI-driven procurement innovation. AI agents offer a smarter, faster way to manage sourcing, risk, and spend across the entire procurement lifecycle.
Fragmented systems, rising cost pressures, and shifting risk profiles are making it harder than ever to manage procurement effectively. This blog explains what a successful procurement strategy looks like in 2025, including a working definition, a strategic procurement framework, and the key steps to building one.
Rather than acting as a full replacement for human decision-making, AI is being implemented in targeted areas where large data volumes, repeatable processes, and pattern recognition enable meaningful gains in accuracy, speed, and cost efficiency. These systems can adjust plans mid-route in response to delays or congestion.
When tariffs rise, fuel prices spike or international trade agreements shift, those cause ripples across all freight modes — truck, air, rail and ocean. They offer flexible service and cost-effective pricing, especially for domestic shipments. But that speed comes at a cost — and not just financially.
Knowledge Graphs are emerging as an important tool for building advanced AI capabilities. These agents can communicate, negotiate, and collaborate to solve complex problems. This, Mr. Al Syed said, is key in moving from an incremental application ROI to bigger, more strategic forms of value creation. Data governance is critical.
billion rate data points monthly to provide the most comprehensive view of the market, helping you identify savings opportunities and make data-driven decisions. It handles everything from rating and booking to shipment management, invoice auditing, and beyond. Ready to Transform Your Freight Operations?
Both focus on improving efficiency and reducing costs but differ in their strategic approach and impact on the core business operations. Strategic supplier relationship management is also a key responsibility here, helping secure reliable supply and competitive pricing.
One way of doing this is by leveraging Source-to-Pay (S2P) solutions, which can provide procurement with the tools needed to manage their supplier relationships and identify opportunities for cost savings. Let’s explore further.
Introduction Gardner, (1954) and Huntzinger, (2007) define Purchase price variance (PPV) as a metric used to measure the effectiveness of cost-saving efforts by calculating the difference between the planned cost (standard pricing) allocated for purchasing activities and the actual cost incurred.
While procurement teams have long worked to add strategic value, Artificial Intelligence (AI) amplifies their impact. For example, AI can spot recurring or unnecessary costs, detect maverick spending (when employees purchase outside of approved channels), and identify opportunities for cost savings based on historical spending patterns.
By gaining more insight on the environmental impact of their logistics operations, businesses can find ways to reduce cost, improve accountability for logistics service providers transportation emissions, and target specific inefficiencies for improvement.
As businesses strive to enhance efficiency, resilience, and sustainability, the demand for skilled supply chain professionals has never been higher. This blog explores how MTSS platforms can be strategically utilized to build the competencies necessary for success in supply chain management.
Modern procurement professionals need to be among some of the most highly skilled workers in any organization, and we want to help you identify exactly what essential procurement skills you need to lead your team as the industry continues to grow and evolve.
Our data showed that over 90% of enterprise shippers had to reroute shipments during this period, with an average cost increase of 35% per container. That’s over 1,100 hours annually that could be redirected to strategic initiatives. Rate sheets become obsolete almost as soon as they’re negotiated.
Misaligned priorities, siloed systems, and unclear ownership can directly impact key performance indicators like cost savings percentage and procurement cycle time. When decisions for either procurement or SCM are made in isolation, organizations can miss out on cost savings, end up with excess inventory, or experience delayed deliveries.
June 10, 2025 Blog Weekly highlights Ocean rates – Freightos Baltic Index Asia-US West Coast prices (FBX01 Weekly) increased 98% to $5,488/FEU. Asia-US East Coast prices (FBX03 Weekly) increased 61% to $6,410/FEU. Europe prices (FBX11 Weekly) increased 17% to $2,757/FEU. America weekly prices fell 1% to $5.27/kg.
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. Supplier risk adds even more complexity.
SCMDOJO Academy elevates your procurement and supply chain skills through its extensive course library. Continuous learning is crucial for professionals to stay ahead of the curve and enhance their skill sets. SCMDOJO offers a diverse range of courses to cater to various learning needs. Here are 10 of their top-rated courses: 1.
They affect trade by increasing costs and changing trade routes. They can raise consumer prices, reduce imports, change trade patterns, and cause other countries to retaliate. For businesses, tariffs increase costs, disrupt supply chains, and reduce profits. Can you increase prices for customers? Can you cut other costs?
Like many, I envisioned substantial cost savings and productivity boosts for the logistics industry, which is often hampered by non-standardized formats and requires high adaptability. In logistics, the cost of an error or exception is always where problems start to balloon. Again, this takes careful and meticulous training.
In the first year after Uber negotiated new rates, KRONOS saved close to 20% on transportation. The post KRONOS Worldwide Improves Service and Reduces Costs with Managed Trans appeared first on Logistics Viewpoints. In the following years, savings ranged from 4-5%.
We organize all of the trending information in your field so you don't have to. Join 102,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content