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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. This is where AI can make a huge difference.
The rise of AI technology combined with Source-to-Pay (S2P) digitization are becoming key allies for leading procurement teams in their quest for ever smarter workflows, improved insights, and data-based decision-making. This makes it difficult for procurement teams to assess their impact or plan responses.
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.
From balancing cost-efficiency with ethical sourcing to enhancing transparency and integrating corporate social responsibility (CSR), businesses face mounting pressure to align their operations with sustainability, technology, and energy practices. The energy sector provides a compelling example of CSR-driven compliance.
In response to these challenges, a leading heavy equipment manufacturer selected GEP to redesign its source-to-contract processes and implement a convergent data model to help manage procurement data across its multiple locations.
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?
It requires a streamlined, reliable supply chain, from sourcing gear and managing equipment lifecycles to ensuring a seamless student experience. Much like gyms and wellness centers, diving schools operate within the broader fitness supply chain , which impacts how they source, sell, and serve.
Proactively adopting cleaner energy sources ensures alignment with these evolving regulations. The industry’s dependency on traditional energy sources necessitates an urgent shift toward cleaner alternatives. Transparent sourcing practices build trust among consumers and investors.
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.
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, supply chain disruptions and geopolitical tensions.
A data gateway is essentially a connective tissue across your supply chain, providing unified access to supply chain data from various sources, including enterprise systems, data feeds, data warehouses, data lakes, data marts, and business entities.
While past efforts focused on meeting compliance requirements, organizations are now working to proactively embed environmental, social, and governance (ESG) principles into their sourcing, production, and distribution activities. Building supplier capabilities while maintaining sourcing flexibility requires additional investment.
A data gateway is essentially a connective tissue across your supply chain, providing unified access to supply chain data from various sources, including enterprise systems, data feeds, data warehouses, data lakes, data marts, and business entities.
SAP is embedding its generative Joule across the SAP Ariba source-to-pay solution portfolio to make it easier for their customers to manage routine inquiries, such as status updates, summarization, and frequently asked questions. Spend Management Takeaways SAP continues to invest in using generative AI to improve the user experience.
Why Download: Identify and assess critical supply chain risks Ask the right questions to evaluate vendor preparedness Implement effective strategies to reduce vulnerabilities Improve communication, transparency, and coordination across your network What You’ll Learn: How to evaluate and monitor suppliers for resilience Tips for diversifying sourcing, (..)
Table of Contents ** Minutes What is product sourcing? Where can I source products from? This makes it essential that buyers understand where they are sourcing their products from and how that ultimately affects their brand. What is product sourcing? Where can I source products from?
CLM changed its name twenty years ago to the Council of Supply Chain Management Professionals (CSCMP) to be more inclusive of the source, plan, and make aspects of supply chain management. Would there be less fog if we could move planning data seamlessly across make, source, and deliver bi-directionally through orchestration engines?
Companies leaning heavily on global sourcing? manufacturer I know saw their import costs jump overnight, forcing a rethink of a decade-old sourcing strategy. Consequently, when shortages emerged, they had already secured alternative sources, thereby averting a significant disruption to production. For example, U.S.-based
From raw material sourcing to logistics and regulatory compliance, stakeholders across the value chain will need to prepare for structural adjustments. Sourcing and Ingredient Availability A central impact of this policy is the need to replace synthetic colorants with natural alternatives.
One policy shift and your sourcing strategy is upside down. How Market-Leading Companies Are Navigating Tariff Chaos with GEP’s AI-Powered Procurement Platform breaks down how procurement teams are staying ahead of the chaos with real-time insights, smarter sourcing moves and AI-powered agility.
Access to Unique Process and Asset Capabilities: Some suppliers offer unique skills, technologies, or processes that are not available in-house or through other sources. For instance, suppliers may have strong Vendor Management process expertise that will help reduce working capital. Nari Viswanathan is Sr.
Facilities sourcing and construction contracting were centralized in the procurement department. The post Boston University’s Sourcing Transformation appeared first on Logistics Viewpoints. He took the job after receiving assurance from BU’s chief financial officer that there would be sufficient headcount where needed.
Source: mainebiz.biz In today’s rapidly evolving logistics and supply chain sector, warehouses are increasingly turning to innovative technologies to gain a competitive edge. Furthermore, solar energy is a clean and renewable source of power, which helps reduce greenhouse gas emissions and combat climate change.
Companies find it difficult to fully trust the data from suppliers, complicating efforts to ensure product authenticity, safety, and ethical sourcing. This will enable diamond jewelry consumers at scale to engage with the unique journeys their diamonds have taken from source.
GEP’s sourcing expertise and market intelligence enabled the company to centralize sourcing and order management processes, strengthen key supplier relationships, and enhance supply chain resilience and agility. The result was a year-over-year savings of more than 3%.
Automakers must model dual-path sourcing strategies and reintroduce buffer inventory—not just for parts, but for regulatory flexibility. requalify suppliers across multiple geographies, and dual-source APIs and components to mitigate risk from any one trade partner. Every major industry now faces a unique supply chain challenge.
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. When done right, spend analysis enables cost savings, supplier optimization, risk reduction, and more strategic sourcing decisions.
Reducing cost was the primary objective, and most operational decisionsfrom sourcing to fulfillmentreflected that mindset. Leading organizations are building supply chains that are less exposed to single points of failure, more informed by real-time data, and more able to adjust sourcing, inventory, and routing based on current conditions.
Authoritative Source for Industry News: Transport Topics has been a leading news source for the trucking and freight transportation industry since 1935, providing essential information for decision-making across the logistics and supply chain sectors.
By 2027, Gartner predicts that 40% of sourcing will be handled outside of the procurement function. How can procurement pros ensure that the process is efficient and unified for all users? For a synchronized and democratized approach to procurement, leaders are embracing total procurement orchestration solutions.
SEFE will manage global ammonia sourcing and distribution through Germanys hydrogen core grid, while Hegh Evi will provide midstream infrastructure, including shipping and floating ammonia-to-hydrogen conversion. These passports provide a digital way to document a products entire lifecycle, ensuring compliance and transparency.
As a result, hospital chains largely lacked competence in sourcing. In many healthcare systems, the costs of these supplies and services were not closely examined. The costs were passed down the line to patients and insurers. And yet, after labor costs, medical supplies are the second largest cost.
With deep-tier mapping of supply chains, companies can manage upstream supplier risk and downstream buyer exposure while optimizing alternative supplier sourcing and ensuring trade compliance. digital twins) to visualize and assess the outcomes of different planned responses.
Segmentation enables differentiated supplier management strategies , such as focusing risk mitigation efforts on sole-source vendors or negotiating long-term value with strategic suppliers. Centralizing data enables better sourcing decisions and improves collaboration across procurement, legal, and business other units.
That's where ZoomInfo Recruiter comes in, helping bridge the gap when job sourcing and communication efforts stall on LinkedIn. LinkedIn Recruiter is an effective way to start the recruitment process for an open position. But that doesn't mean there aren't some frustrating roadblocks on the network.
They will handle providing accurate data across their operations, including product sourcing, procurement, and transactions, to name just a few. To navigate this changing regulatory landscape, solutions such as Global Trade Compliance, Multi-Enterprise Supply Chain Networks, and Supply Chain planning will be in high demand.
In this blog post, we will explore the key differences and challenges between direct and indirect procurement, sourcing strategies that can be employed, and examine how technology can modernize these procurement processes. What Is Direct Procurement and How Does It Work? It continues through production and the product’s end-of-life phase.
From sourcing and bid evaluation to warehouse slotting and dynamic routing, AI tools support faster and more consistent outcomes by processing large volumes of operational data and identifying patterns that human decision-makers may overlook. Integration allows seamless transitions from data insights to purchase approvals and execution.
Segmentation enables differentiated supplier management strategies , such as focusing risk mitigation efforts on sole-source vendors or negotiating long-term value with strategic suppliers. Centralizing data enables better sourcing decisions and improves collaboration across procurement, legal, and business other units.
Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations.
This enables companies to adjust sourcing, production, and logistics well in advance of potential disruptions. AI integrates external data sources such as weather forecasts, geopolitical events, and social media trends to refine demand projections.
Both scenarios carry hidden dependencies, but overreliance on single or sole sourcing is increasingly a hidden challenge. The call to action was clear: Organizations must act now to pinpoint financial and sourcing vulnerabilities. 42% of EBITDA may be at risk due to unmitigated disruption exposure.
This includes sourcing of ammonia, transportation by ship, and delivery to floating import terminals where the ammonia is cracked into hydrogen for delivery to SEFE customers through the German hydrogen core grid.
SEFE will manage global ammonia sourcing and distribution through Germanys hydrogen core grid, while Hegh Evi will provide midstream infrastructure, including shipping and floating ammonia-to-hydrogen conversion. These passports provide a digital way to document a products entire lifecycle, ensuring compliance and transparency.
Did you know that implementing generative AI reduces sourcing cycle times and allows for faster decision-making across procurement operations? Generative AI goes beyond just automating tasks and providing real-time answers.
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