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Businesses will need to ensure accurate data reporting across core operations such as sourcing, procurement, and transactions. Big data sources, including bills of lading and other trade documents, are becoming increasingly crucial as proof points that sub-tier suppliers are not bad actors. from Canada and Mexico.
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.
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.
The post How Technology Makes Continuous Innovation Possible: A Case Study with Unilever appeared first on Logistics Viewpoints. Nil has also been an active member of women’s professional networking groups, advocating for women’s leadership roles in the technology and entrepreneurship fields.
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.
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. Learn more at www.ivalua.com.
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.
A recent study claims that as much as 20% of invoices are incorrect, making billing accuracy a significant industry problem. Another study from the Dreary Report from 2018, states that inefficiencies, pain points and lack of automation in the maritime industry result in costs adding up to a staggering $34.4 Lack of trust.
The examples below show you how to do this in AIMMS SC Navigator Apps, but we encourage you to study these scenarios in the tools you have at your disposal. . Multiple best/worst case scenarios should be run under different demand conditions to study the impact on your supply chain. Study 2: Inspect Demand Trends .
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%.
In today’s interconnected world, ethical sourcing has transitioned from a “nice-to-have” to a critical imperative for businesses across all sectors. The global market for sustainable products is projected to reach $150 billion by 2025 , indicating a robust demand for ethically sourced goods across various sectors.
Ivalua commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study , offering key insights into how companies can unlock substantial financial benefits and operational improvements by adopting Ivalua’s unified Source-to-Pay (S2P) platform. NPV generated over three years for a typical organization.
The shortage has not impacted Charlottesville’s other major healthcare provider, Sentara Health as this organization sources its IV solutions from a different manufacturer. UVa Health said it is working on reducing any unnecessary waste of IV products, including IV fluids, dialysis fluids, parenteral nutrition, and irrigation fluids.
He leads a team of market experts who study every facet of the logistics industry to bring the best available insight to customers. During his tenure in the industry, he built innovative pricing and forecasting models, leveraging internal and external data sources to improve internal decision-making and increase profitability.
Many application teams leave embedded analytics to languish until something—an unhappy customer, plummeting revenue, a spike in customer churn—demands change. But by then, it may be too late. In this White Paper, Logi Analytics has identified 5 tell-tale signs your project is moving from “nice to have” to “needed yesterday.".
A 2023 McKinsey study found that companies relying on reactive supply chain management lose up to 10% of annual revenue due to inefficiencies and missed opportunities. This enables companies to adjust sourcing, production, and logistics well in advance of potential disruptions.
Two recently published studies identify the top disruptions that impacted industry, business and global supply chains during 2024 and our expected to be present in 2025. The post Studies Identify Top Supply Chain Disruption Risks first appeared on The Ferrari Consulting and Research Group / Supply Chain Management.
The data outcome is open source and can be used to improve project outcomes. Eleven of the thirteen industries studied are forecastable and stable over time. The Y chart service harmonizes the data across different public markets, currencies, M&A, and restatements. This work was expensive. This is not a new project.
Supply chain was defined in 1982 as interoperability between source, make and deliver. It includes hedging strategies, alternate bill of materials, supplier sourcing strategies, changing routs to market, redesigning push/pull decoupling points, demand shaping policies, and use of outsourced manufacturing and distribution.
Just by embedding analytics, application owners can charge 24% more for their product. How much value could you add? This framework explains how application enhancements can extend your product offerings. Brought to you by Logi Analytics.
We have not designed the planning systems to serve managers, directors, and vice presidents, aiming to improve decision-making and collaboration across the source, make, and deliver processes. Using channel and trading partner signals build outside-in models and orchestrate decisions across source, make and deliver. So, What Is Value?
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.
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.
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.
Why do some embedded analytics projects succeed while others fail? We surveyed 500+ application teams embedding analytics to find out which analytics features actually move the needle. Read the 6th annual State of Embedded Analytics Report to discover new best practices. Brought to you by Logi Analytics.
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?
For the past decade, I have been studying these patterns. This data source synchronizes corporate reporting across global markets while tracking restatements, name changes, and currency shifts.) By charting the performance against peer groups, I could see the story. We purchase data from Y charts. (A
However, one-third of SCP leaders cite “the lack of effective decision making in the S&OP meeting process as the most critical problem to solve for their function’s overall performance” (source: Gartner, Improve S&OP Decision Making Through Scenario Planning , Supply Chain Research Team, 4 May 2020). COVID-19 and Scenario Planning.
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.
On top of this, after demand has been adjusted, demand simulations can be run to study the behavior of your resources over time as demand continues to increase or decrease. . Another use case we see for scenario modeling in the current context is evaluating new sourcing locations. Evaluating Potential for Reshoring .
These case studies underscore the importance of aligning technology with operational strategy to gain a competitive edge. Aston Martin : Improved first-time availability (FTA) across all car categories with an 18% reduction in safety stock.
John is CEO of FreightPath, an innovative talent firm that offers both a comprehensive learning management system and a direct candidate sourcing solution. FreightPath addresses multiple industry challenges by offering both a comprehensive learning management system and a direct candidate sourcing solution.
Build in-market sourcing. Rationalize global strategies to focus on building markets based on in-market sourcing. Currently, I am working on a study to understand the value of synchronizing contract manufacturing with in-house manufacturing and procurement. Make divisions and regions self-sufficient. Interested?
Then build business case studies (think back to your business school case studies) describing the opportunity. Put your case studies in your briefcase. Explore to understand the data sources, the cleanliness and frequency of data, and evaluate the use of machine learning and NoSQL to improve data quality and reduce data latency.
In a recent study, almost three-quarters (74%) of shippers reported they would switch to 3PL providers based on their AI capabilities. Whether supply chain and logistics teams are looking for new sources of inventory, transportation or warehousing, a full-service logistics software partner can seamlessly connect them with the right partners.
A recent study by McKinsey emphasizes that incorporating variability and uncertainty into forecasting models is crucial for navigating a rapidly evolving business landscape. Identify and prioritize sources of uncertainty and variability in your supply chain and use this data to improve your planning and decision-making.
Some of the bi-directional orchestration strategies defined were: “ Use levers like postponement, alternate sourcing, product simplification, and alignment of shaping strategies to improve agility. My goal is to write case studies and quietly lead the revolution for change. Tactical and operational levers (e.g.,
ARC has been actively studying industrial AI for over two years. trillion records from 47 data sources in the Cognite platform. It accesses, transforms, and harmonizes data from multiple sources to make it usable and actionable for various business use cases. Celanese is an exception. Industrial data is voluminous.
Many factors need to align for an organization to be able to source materials, produce a product and put it in the hands of customers. Of the professionals surveyed, 59% saw the gap between procurement/sourcing and supply chain to be a major disconnect, and the most pressing pain point.
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In other studies, I am working with data scientists and statisticians to glean insights from over sixty quantitative research projects over the last decade. What is the role of make, source, and deliver? Define a proactive approach and the value/economies of scale of planning manufacturing/transportation and sourcing together.
ARC Advisory Group’s Global Warehouse Automation Research study is now complete and available for purchase. The research process includes an analysis of large amounts of information and interviews with executives from numerous warehouse automation providers; and concludes with the publication of ARC’s research study. Growth Inhibitors.
Source: Fortune. #3: Source: Fortune. One study revealed that 40% of respondents listed burnout as a top reason for leaving their jobs. Find out what employees value as part of their professional development, work/life balance, and benefits, and go from there. 3: Overcome the Staff Shortage by Supporting a Remote Workforce.
The study showed that the workforce problem is pervasive, with 76% of respondents indicating they are facing notable shortages. The study also provided insight into what companies are doing to address it. The research report What Are Companies Doing to Survive the Supply Chain and Logistics Workforce Challenge?
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