Applications of Artificial Intelligence in Procurement

Posted: 06/04/2020 - 04:52
Author: Steven Sargent
Artificial Intelligence in procurement

Today, about 80% of large organizations are using artificial intelligence in their core business – compared to about 10% just five years ago. Companies that focus on AI are harnessing opportunities from vast data availability, machine learning and complementary technologies such as cloud, Internet of Things (IoT) and 3-D printing. And they are doing so with a focus on short-term benefits as well as long-term growth. According to Harvard Business Review, if you miss out, the opportunity cost could be as much as 41% of revenue by 2023.

Online Collaboration is Needed Now More Than Ever

Posted: 06/02/2020 - 00:54
Author: Sophie Pope
technology, automation and data acheives business continuity

We know that procurement is often a juggling act! We use decent supplier relationships, purchasing power, and any other tools in our belt to secure best payment terms, highest quality purchases at the lowest price, or indeed best value, to ensure vital continuity of supply against a backdrop of supply chains becoming ever more complex and volatile!

Strategies to Drive Procurement Compliance and Manage Rogue Spend

Posted: 06/01/2020 - 21:54
Author: Dan Anzevino
Procurement Compliance and Spend Management

Compliance is a critical purchasing success factor. Aside from the tremendous amount of financial impact, compliance has other positive outcomes. When employees comply with purchasing through designated supplier programs, it significantly streamlines the supply chain, allowing your organization to be agile and flexible.

Why “Paper Compliance” is Not Good Enough in a Post-COVID-19 World

Posted: 05/27/2020 - 21:11
Author: Mark Scullion
risk and compliance post-covid-19

An unlikely health and safety pandemic has thrown the world into a tailspin. Regulatory changes related to COVID-19 are already touching all facets of the industry. They are likely to continue to evolve at a brisk pace, making it difficult for some employers to keep up. Although it would have been impossible for any company to be fully prepared for such low probability, the companies that put health and safety at the forefront of their efforts have found themselves in a much better position to respond.

Fix Our Broken Medical Supply Chains

Posted: 05/27/2020 - 04:48
Author: Pinar Keskinocak
covid-19 medical supply chain

The entire world is watching aghast as our nation continues to struggle with its COVID-19 response, where our broken supply chain cannot supply medical workers with enough masks and face shields to keep them reasonably healthy. The pandemic has exposed inadequacies and vulnerabilities in supply chains that were supposed to provide the much-needed supplies in the healthcare system. But life-threatening shortages are reported daily. COVID-19 testing kits and nasal swabs, lab processing chemicals, hand sanitizer and ventilators are in desperately short supply.

Value Beyond Savings: 4 Ways Procurement Can Make An Impact

Posted: 05/22/2020 - 21:05
Author: Omer Abdullah
Procurement value

One of the most significant procurement trends we’ve seen so far in 2020 is delivering value beyond savings. So what exactly does this mean in the context of the function’s traditional goals?

Savings, as we all know, have long formed the foundation of procurement’s ROI to the organization. It’s been our primary charter over the years and is quite literally how the function has “paid its bills.”

Managing Risks in a GBS Environment post-COVID-19

Posted: 05/21/2020 - 00:29
Author: Cindy Gallagher
GBS Environment post COVID-19

Risk optimization and mitigation are essential within any Global Business Services (GBS) environment to proactively protect the enterprise from potential threats and enable confident business decisions. COVID-19 has uncovered previously unknown vulnerabilities, which left business leaders and board members scrambling for solutions to plot a course to stabilization.

Global Sourcing: Myth Versus Reality

Posted: 05/20/2020 - 23:01
Author: Tim Baker
Global Sourcing

Global sourcing offers numerous benefits. Unfortunately, due to misinformation, many companies overlook global sourcing as a solution and miss out on potential productivity benefits. In this article and the complimentary infographic, we will explore and debunk some of the most persistent myths about global sourcing.

Autonomous Last-Mile Delivery in E-commerce

Posted: 05/15/2020 - 01:24
Author: Koyel Ghosh
Autonomous Last-Mile Delivery

It must be an amazing feeling to get your online order delivered the next day or on the very same day itself. You would not only feel special but would also develop trust and reliability for the respective company. Nevertheless, the scenario used to be quite different. But, in the last few years, high-end innovation in technology has boosted the logistics industry in more than one way, while driving the e-commerce industry with the same spur.

COVID-19 AND TRADE REGULATIONS

Posted: 05/13/2020 - 00:37
Author: Andrew Hood
COVID-19 TRADE

The COVID-19 pandemic poses fundamental questions for governments and businesses about the resilience of international trade.

How to ensure supplies of crucial goods (medical supplies, food) that are dependent on global supply chains?

How to survive the immediate crisis and be best placed, with suppliers and customers, to resume production as soon as conditions allow? 

How to protect national industries while retaining the benefits of free and fair international trade?

THE NEED FOR ONLINE COLLABORATION — NOW, MORE THAN EVER!

Posted: 05/11/2020 - 23:10
Author: Sophie Pope
ONLINE COLLABORATION

In this two-part blog series, we’ll take a look at how to better position organizations in order to improve business continuity and resilience. Part 1 looks at the current state of collaboration between procurement and finance, and what these two teams can start doing to improve workflow, efficiency and bottom-line impact.

Attracting and Engaging Moms Returning to the Workplace

Posted: 05/08/2020 - 22:04
Author: Rachel Morar
Moms in the Workplace

The Benefits of Hiring Moms

Companies in the UK continue to overlook the significant benefits that come with hiring moms wanting to return to the workplace. In fact, senior decision-makers underestimate the host of skills moms come equipped with, all of which they would not have had the opportunity to develop if they had remained within a role leveraging the same skills every day. These include, but are certainly not limited to, increased productivity, efficiency, empathy and a greater capacity to multitask. 

Rebuilding a Broken Chain: How Agility Can Save The World

Posted: 05/08/2020 - 05:54
Author: Erin McFarlane

There were two stories in recent news that grabbed my attention.  All across the country, food banks are overwhelmed with demand.  Families in desperate need waited for hours for a week’s worth of supplies over Easter weekend, with lines of cars stretching for miles. The demand outstretched many facilities’ ability to fulfill, with some leaving empty-handed, or with less than they need.

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