From Buzzwords to Action: How AI and ML Are Driving Procurement Efficiency

Posted: 04/29/2024 - 21:57

The advent of Artificial Intelligence (AI) and Machine Learning (ML) marks a thrilling turn in the evolution of procurement practices, signifying a fresh approach to smart business buying. Once merely a back-office function, procurement has undergone a significant transformation in recent times, boosted by the progress in AI and ML technologies.

Mastering Supplier Risk Management: How to Build More Reliable Suppliers

Posted: 03/12/2024 - 22:01
Mastering Supplier Risk Management: How to Build More Reliable Suppliers
Supplier Segmentation 
The first step in an SRM program is Supplier Segmentation. This process involves categorizing the supply base into different segments based on various factors, such as the type of goods or services provided, the business volume, and the risk associated with each supplier. By segmenting suppliers, businesses can prioritize their efforts and resources to effectively manage the suppliers that pose the most significant risks. 

OKR Effect: The Secret Ingredient in Next-Level Procurement Strategy

Posted: 01/04/2024 - 22:14
OKR Effect: The Secret Ingredient in Next-Level Procurement Strategy
In the grand theater of the corporate world, imagine an orchestra in progress, with the musicians responding to the movement of the conductor's baton with grace and precision to create a perfect symphony. Much like a masterful orchestra, each musician has a defined role with distinct beginning and an end. A 'Trust contract' enables the musicians and the conductor to move from one section to another, creating value for their listeners.

Synertrade positioned as the Leader in the SPARK Matrix for Strategic Sourcing Applications (S2C), Q3, 2023 by Quadrant Knowledge Solutions

Posted: 11/11/2023 - 01:19

Paris, October 26th 2023: Quadrant Knowledge Solutions announced today that it has named Synertrade as a Q3, 2023 technology leader in the SPARK Matrix analysis of the Strategic Sourcing Application (S2C), market.

Adapt or Fall Behind: How Top Companies Are Winning with Flexible Workforce Models

Posted: 11/04/2023 - 02:54
In the face of today's economic challenges and unpredictable market landscape, the utilization of flexible workforce has become an essential strategy for organizations around the globe. The flex workforce, encompassing Contractors, Managed Service Providers (MSPs), and 1099 resources, offers a distinctive advantage, enabling companies to augment human resources without binding themselves to long-term retention commitments.

BGIS • Future of Sourcing Awards Finalist Interview

Posted: 09/18/2023 - 20:17
1) Can you outline why your team embarked on this project and the problem that needed to be solved? 
At BGIS, our diversity and inclusion (D&I) beliefs and practices play a pivotal role in our success as a service-based organization; enabling us to attract and retain the best talent and better reflect the employees, communities, and customers we serve and value. We take pride in our global supplier network, a cornerstone of our success.  


Subscribe to RSS - Global