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
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.
Resilinc made a powerful impact at ISM World 2025—highlighting how AI-driven foresight and financial risk intelligence can transform reactive supply chains into strategic assets. In Orlando, thought leaders, procurement professionals, and supply chain executives came together under the theme of building resilient, responsive supply networks.
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.
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, riskmanagement, and cost reduction.
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.
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 February, Klaus Niebur, the director of global supply chain riskmanagement at Autoliv, and Jan Thiessen, the managing director at targetP!, spoke on best practices on supply chain riskmanagement at ARC Advisory Group’s Digital Transformation in Industry conference.
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 riskmanagement differ significantly. Procurement vs. Purchasing: What’s the Difference?
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and riskmanagement. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supply chain disruptions and geopolitical tensions.
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.
In a world of ever-growing economic uncertainty, procurement is at the heart of organizations’ aim to drive efficiency and cost savings. As more and more companies invest in S2P technology, Ivalua has commissioned a survey and report on “The State of Source-to-Pay Digitization 2025” from trusted research and advisory firm Ardent Partners.
In order to effectively managerisks in the current unstable global marketplaces, many suppliers have a thorough understanding of their own suppliers as well as supply chain bottlenecks that extend past the top tier of suppliers. This means involving procurement in the highest levels of strategic planning and 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.
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, riskmanagement, strategic foresight, and supplier collaboration.
This enables companies to adjust sourcing, production, and logistics well in advance of potential disruptions. Amazons AI-Driven Supply Chain Planning Amazon has integrated AI throughout its supply chain to improve demand forecasting, logistics, and inventory management.
Supply Chain RiskManagement 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 supply chain riskmanagement solutions. Supply Chain RiskManagement Vendors. AGCO Stayed Nimble during the Pandemic.
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.
The company, heavily invested in Canadian manufacturing, faced a crisis because its raw materials were sourced from outside North America, disqualifying it from USMCA tariff exemptions. Design product flexibility to include materials sourced for US and non-US markets or quickly adapt to different sources of materials.
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.
The COVID-19 pandemic and ongoing geopolitical shifts demonstrated the risks of relying on single-source suppliers and minimal inventory buffers. The objective is to maintain operational continuity while balancing cost efficiency with riskmanagement. Walmart is also implementing AI-driven logistics and procurement.
Direct Procurement : Milk is collected directly from farmers at the village level. Amul has also implemented a Geographical Information System (GIS) at both ends of the supply chain (milk procurement and marketing). This empowers them to have a stake in the business and share profits. through net-enabled kiosks in the villages.
That’s when it all gets extremely complicated, but one thing remains crystal clear: supply chain riskmanagement is profoundly important for businesses to grow and expand. The same source also informed that the Chartered Institute of Procurement & Supply (CIPS) Risk Index of 2016 was the highest since records have begun in 1995.
Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. First, overreliance on a narrow group of suppliersespecially those in politically sensitive regionsexposes companies to risk when trade relationships shift. Procurement is another area seeing change.
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.
What Lieferkettengesetz Means for Procurement? The act was established to address issues of sustainability and ethical conduct in global supply chains, and has significant implications for companies and procurement organizations operating in Germany. Further, it is essential that supplier management and data is holistic (i.e.,
In today’s interconnected world, ethical sourcing has transitioned from a “nice-to-have” to a critical imperative for businesses across all sectors. This heightened awareness places a significant responsibility on procurement professionals to ensure that their supply chains align with ethical and environmental standards.
Ivalua NOW AMER 2025 in New Orleans was an event that exceeded all expectations, delivering an unforgettable experience for our thriving procurement community. This year’s theme focused on reshaping the procurement industry’s approach to innovation, tackling challenges, and uncovering fresh paths to success.
Like every industry Procurement & Supply Chain software vendors are having to find new approaches in the pandemic world, and firms are coming up with ways of holding events virtually, some of which work better than others. The May 5 th programme is open to everyone, while the 6 th is limited to current Ivalua customers. .
Strategic Sourcing Simplified: Best Practices for Maximizing Value Strategic sourcing goes beyond cost savings its about making informed decisions that drive long-term value. Now well dive into best practices in these critical areas to ensure a more effective and resilient sourcing strategy.
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.
Thirdly, all the COVID supply disruptions brought home the need for better supply chain riskmanagement. Riskmanagement had been a hard sale. Companies typically embrace improved supply chain riskmanagement after a disaster – after the horse had already fled the burning barn. They are not.
REDWOOD CITY, Calif. , March 31, 2020 /PRNewswire/ — Ivalua, a leading provider of global spend management cloud solutions , has announced the latest findings of a worldwide study of supply chain, procurement and finance business leaders on Effective Procurement Performance Measurement.
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.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supply chain disruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate. Want to future-proof your procurement function?
Supplier Management solutions have garnered significant recognition in the procurement industry for their innovative approach and substantial business benefits. This recognition underscores QADs growing influence and effectiveness in addressing the complex needs of todays procurement professionals.
Third-party RiskManagement (TPRM) within Services organizations, especially Financial Services (FSI), has become critical over the last few years. Some of this is due to regulation but a lot is simply due to the increase in risk occurrences of varying types and the increasing complexity of third- party relationships.
You have a supply chain riskmanagement strategy in place. This key supplier had been identified and sure enough, you have a second source primed and ready to go. A few hours later, your procurement head walks in the office. “We We have a problem.” The alternate source uses the same supplier in Taiwan.
GEP and the North Carolina State University (NCSU) Supply Chain Resource Cooperative surveyed supply chain, procurement and IT professionals across a range of industries to gain insight into their priorities and strategies regarding supply chain resilience and optimization. Key spend management suppliers include GEP, Coupa, and Jaggaer.
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. He further indicates: A CFOs role in tariff riskmanagement goes beyond just financial oversight.
Learn the best practices for supply chain riskmanagement in 2024 from Resilinc, the gold standard for supply chain resiliency. As riskmanagers audit their vendors and programs at the start of the year, it’s also time to clean up old strategies and supply chain practices. Out with the old and in with the new!
Learn how implementing an Enterprise RiskManagement framework can help your company on the journey to operational resilience. Businesses have started to see riskmanagement as a necessary facet of running a successful company. market size for riskmanagement was valued at $0.44 In 2022, the U.S.
Decoding the Procurement Department: A Comprehensive Guide to Roles and Responsibilities This supply chain article provides a comprehensive overview of the procurement department within an organization. Read In Detail About Procurement Department Here 2.
Supply chain management and procurement sit poised on the frontlines of managing global supply risks for their brands. From inventory management to customer shipping, leave nothing to chance when it comes to supply chain risks. Understanding Supplier RiskManagement. Proactive riskmanagement.
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