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Companies leaning heavily on global sourcing? Theyre feeling the heat most, as sudden trade policy curveballs throw procurement plans into chaos. manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. What Is Agile Procurement? Agile procurement is your lifeline.
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.
In order to effectively manage risks in the current unstable global marketplaces, many suppliers have a thorough understanding of their own suppliers as well as supplychain bottlenecks that extend past the top tier of suppliers. This means involving procurement in the highest levels of strategic planning and decision-making.
Ivalua study finds 97% of procurement leaders see significant disruption in direct materials supplychain; 67% not confident in existing technology; 84% consider modernization a ‘strategic priority’. Nearly all executives surveyed (97%) point to significant disruption today in their direct materials supplychain.
Direct materials sourcing is evolving, with procurement now tasked not only with cost efficiency but managing sustainability and risk management. The environment is marked by heightened demand and expectations, compounded by challenges such as rising input prices, supplychaindisruptions and geopolitical tensions.
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.
Direct and indirect procurement are two fundamental approaches in supplychain management, each serving distinct functions within an organization. Together, these procurement strategies are essential for robust, efficient business operations. Discover how Ivalua can transform your direct and indirect procurement.
Supplychaindisruptions have become a persistent operational risk. Traditional supplychain planning, which relies on historical data and reactive adjustments, is no longer adequate for managing these challenges. AI-based demand forecasting minimizes excess inventory while ensuring sufficient supply.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains 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.
AI is reshaping the way organizations source, manage suppliers, and drive value today. As supplychains 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.
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. Establish inventory reserves in key markets to avoid supplychaindisruptions.
Why Your Procurement Strategy is More Critical Now Than Ever Before In an era of global supplychaindisruptions, a robust procurement strategy is no longer optionalits essential. The right procurement strategy ensures that organizations: Mitigate risks before they escalate.
Just-in-time (JIT) inventory models, lean supplier networks, and offshore manufacturing reduced expenses but left companies exposed to disruptions. The COVID-19 pandemic and ongoing geopolitical shifts demonstrated the risks of relying on single-source suppliers and minimal inventory buffers. Resilience is now taking precedence.
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.
Blog » Procurement on the Thames: Ivalua’s London Summer Symposium June 26, 2023 | | Thought Leadership by Eloise Barnum As businesses navigate through supplychaindisruptions, high inflation, and sustainability initiatives, procurement, and supplier management has taken center stage in driving change.
Often the core planning is done by a supply planning solution that creates a digital map of a companys supplychain. That supply planning application needs to be integrated into an array of internal systems ERP, transportation management, warehouse management, procurement, and other applications.
The difference between sole source vs. single source is on the surface. In single sourcing, your company selects a single supplier exclusively , even though there are other capable suppliers on the market. In sole sourcing, you don’t have a choice —only one supplier can provide what you need. The reason?
What Is Strategic Sourcing? A Complete Guide Strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. It is called strategic because it replaces traditional ad hoc approaches to sourcing, which were almost entirely focused on cost savings, item by item.
The combination of Maestro’s scenario modeling capabilities and Catena-X data integration equips planners to stress-test decisions before they cascade through production and procurement. This is about building proactive, not reactive, supplychains.
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 supplychains align with ethical and environmental standards.
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.
The disruptions and the themes are similar along with added observations. Resilinc Study Supplychain risk management technology provider Resilinc released this week this providers findings of the top drivers of supplychaindisruptions for 2024. All rights reserved.
In March 2023, the Global SupplyChain Pressure Index fell to the lowest level since November 2008. While many might clap their hands and exclaim the end of three-years of unprecedented supplychaindisruption, I say, “Not so fast.” Over the past three years, supplychain cycles shifted.
Industry-specific content is available for processes like Source to Settle, Procure to Pay, Order to Cash, and more. The core message was that the standard for supplychains has changed, requiring a digital and intelligent network platform. Key features include Multi-tier Mapping and Trace Request.
Procurement and SupplyChain 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 – supplychain focuses on service and procurement focuses on the cost of acquiring materials and services.
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.
Automotive: Managing tariffs; overcoming supply constraints and cost surprises For automotive manufacturers , tariffs don’t just impact costs—they create major supply constraints. Key takeaway Top challenge: Sourcing volatility driven by EV component shortages and fluctuating global tariffs.
To reduce the risk of supplychaindisruption , shippers need to know what it means for their operation going into the start of May and how to use the right services to find available capacity before the CVSA roadcheck storm arrives. Mitigate SupplyChainDisruption during the CVSA Roadcheck by Partnering With The Right 3PL.
The Power of Source-to-Pay Digital Transformation To put it briefly, source-to-pay refers to the entire process that starts with finding, negotiating with, and contracting the suppliers of materials, goods and services, and culminates in the final payment for those items. Who Should Prioritize an S2P Digital Transformation?
For the past few years, the news has been filled with stories about supplychaindisruptions, supplychain fragility, and the need for supplychain resilience. A term once prominent in supply discussions optimization isn’t heard quite as often as it used to be.
This article explores the disruptive nature of supplychaindisruptions, the significance of collaboration in managing direct spend, the role of Purchase Order (PO) Collaboration in tracking materials throughout the order cycle, and real-world challenges faced in PO Collaboration. Nari Viswanathan is currently Sr.
What is Source to Pay (S2P)? Yet in the case of source to pay, it is wholly justified. And if your organization is big enough to need a Chief Procurement Officer , that person is directly or indirectly responsible for every stage of that journey. Yet there are good reasons to do so.
Strategic Sourcing Success: Best Practices and Key Strategies Of course, there are many definition s of source-to-pay but put simply, strategic sourcing is a data-driven approach to securing the best value for your organization from its strategic suppliers. How Has Strategic Sourcing Evolved?
SYDNEY, Australia, 1st July 2025 – JAGGAER, the global leader in source-to-pay and supplier collaboration, today announced the expansion of its global alliance with BearingPoint through a new reseller agreement in the Asia-Pacific region.
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.
With digital technologies, organisations can use data to maximise visibility into demand, inventory, capacity, supply, and finances. Technology designed for manufacturers, such as ERP systems , provides organisations with improved visibility of the reliable local suppliers and their supplychains. The supplychain of the future.
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?
Reliable and responsive suppliers are key for supplychain performance and success and hence the supplychain leaders require not only a strategic approach but also an agile approach towards outsourcing. Strategic sourcing plays a crucial role in supplychain continuity.
With 30% of respondents indicating their organizations are suffering from an inability to assess risk across suppliers, many are investing in new strategies to minimize the frequency and impact of disruption. The study also found that suppliers will be vital for successfully ensuring supply continuity. About the research.
Last week, Ivalua partnered with Ardent Partners to discuss Procurement 2022: Big Trends and Predictions. . Procurement 2022: Big Trends and Predictions. #1. Enterprises will continue to undergo the financial burden of revenue disruptions, consumer , and uncontrolled supplychain variables. . View Webinar Replay.
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 supplychaindisruptions caused by weather, geopolitical events and other hazards in near real-time.
During the pandemic, Procurement flexed its muscle, helping to mitigate supplychaindisruptions and enable new channels for engaging with customers and fulfilling orders. Here are four ways leading Procurement organizations can influence retail recovery in 2021 and beyond: 1. Decentralize Procurement.
Tariffs are designed to protect domestic industries, but they also pose challenges for industrial manufacturers, including higher costs, supplychaindisruptions and market volatility. Managing supplychaindisruptions: Tariffs can create supplychain bottlenecks, delaying the arrival of critical components.
This article is derived from our newest SRM White Paper, “One Platform, One Vision – The Benefits of a Unified AI-Driven SupplyChain Planning & Procurement Decision-Making Platform” Ask a procurement leader and a supplychain planner about their biggest priorities, and you’ll likely hear two very different answers.
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