Global

Rethinking Supplier Risk in the Era of Diversity and Inclusion

Posted: 08/16/2021 - 00:00
Author: Purvee Kondal
Rethinking Supplier Risk in the Era of Diversity and Inclusion

While everyone around the globe has become aware of the focus on diversity and inclusion, not everyone has embraced or welcomed it. Some are deliberate and vocal about expressing dislike of these necessities at work, school and in our communities. Others are quietly against it but raging inside, rallying against diversity and inclusion, both consciously and subconsciously.

The Future of Supplier Collaboration

Posted: 08/13/2021 - 09:00
Author: John Wookey
The Future of Supplier Collaboration

Supply chain resiliency took on a new meaning in 2020. In the first few months of the pandemic, suppliers and procurement teams alike were left scrambling, desperately trying to maintain business continuity. The situation called for unprecedented levels of collaboration and visibility, which many organizations were not able to meet.

Digitization: A Path to Resilience Through Disruption

Posted: 08/11/2021 - 09:00
Author: Michael Rabinowitz
Digitization: A Path to Resilience through Disruption

The supply chain headaches continue. Only 40% of global container ships were on time in March 2021, with average delays extending more than six days.

The pervasive disruptions have made effectively managing supply chain demand, accurately forecasting inventory levels, and ensuring on-time delivery mission critical in today’s market. Coming out of a recession, the stakes have never been higher.

Pursuing Data-driven Insights? Start With Your Supplier Data

Posted: 08/06/2021 - 09:00
Author: Ophelia Otto
Supplier Data

For years, experts have urged business leaders to prepare for the coming AI disruption. Realizing the amazing potential of these emerging technologies, they argued, would require businesses to overhaul how they manage data. Yet with the economy booming, many found it easier to push tricky data questions into the future.

What is a Taxonomy, and Should I be Using One?

Posted: 08/04/2021 - 09:00
Author: Susan Walsh
What is a Taxonomy, and Should I be Using One?

It surprised me when I first came into the procurement world that not everybody knew what a taxonomy was, I even had someone confuse it with taxidermy! I thought it was used in all procurement departments all over the world, but I was wrong. In fact, it is often overlooked, which can be frustrating as it’s an incredibly useful tool for data organization.

Swimming in a Sea of Invoices: How to Streamline Your AP Process

Posted: 08/02/2021 - 23:33
Author: Anders Fohlin
Swimming in a Sea of Invoices: How to Streamline Your AP Process

A wise person once said, “If you do as you’ve always done, you’ll get what you’ve always gotten.” That statement applies to many things in life, including accounts payable (AP) invoice processing.

For decades, AP was a manual process. Vendors mailed paper invoices to customers and accounting teams would perform their two- or three-way match, comparing an invoice to a receiving document and the purchase order (PO) or other purchase authorization documentation.

What to Consider When Sourcing Sustainable Packaging

Posted: 07/30/2021 - 09:00
Author: Christian Girardon
What to Consider When Sourcing Sustainable Packaging

When it comes to packaging, raw material generally represents the largest cost component, especially in an inflationary commodity environment. Raw material also represents the largest carbon footprint share of the packaging itself. With the climate in peril, sourcing sustainable materials is instrumental in creating an environmentally aware product. So, it’s all the more important to ensure you’re considering key elements when determining the sustainability performance of the packaging solution.

5 Insights to Drive Your Procurement Priorities

Posted: 07/28/2021 - 09:00
Author: Omar Salaymeh
5 Insights to Drive Your Procurement Priorities

Just as there was no roadmap for navigating a crisis like COVID-19, there is no formula for the best way to come out of a pandemic, either. However, if anyone has proven that they are up to charting the way forward, it’s procurement professionals. As resourcing experts, procurement is known for finding strategic solutions that satisfy diverse stakeholder needs — and fast.

5 Challenges Faced by Sourcing Professionals and How to Solve Them

Posted: 07/27/2021 - 09:00
Author: Andy Wishart
Five Challenges Faced by Sourcing Professionals and How to Solve Them

Sourcing professionals around the globe face increasing challenges and demands, and that was true even before the pandemic. Siloed systems have historically slowed down the supplier onboarding and source-to-contract process.

But flexible contract lifecycle management (CLM) solutions can enable new agility in the sourcing process, especially if they are extensible enough to bring sourcing professionals directly into the contract management process.

Advantages of Artificial Intelligence in Enterprise Contract Review and Analysis

Posted: 07/26/2021 - 09:00
Author: Steve Levine
Technological advances in artificial intelligence (AI) and machine learning (ML) can help companies overcome the many challenges in dealing with large collections of legal documents and contracts.

Contracting, common for every company, is something that few companies do efficiently or effectively. The process of reviewing contracts and legal documents is manual, tedious and error-prone, exposing organizations to legal risks if not well managed. The financial consequences can also be severe. KPMG estimates that inefficient contracting causes firms to lose up to 40 percent of value on a given deal, depending on circumstances. 

4 Myths About Procurement And Supply Chain Careers – Solved

Posted: 07/21/2021 - 18:14
Author: Tim Robinson
4 Myths About Procurement And Supply Chain Careers – Solved

Supply chain management and procurement are fields commonly misunderstood by many. The contribution of these fields to any business or their perception as a career option is governed by many misconceptions.

In this article, some of the common myths about supply chain management and procurement will be explored. The purpose of this is to get rid of the common myths around these fields and to help you get a better understanding of the profession.

The Top 3 ERP Transformations that Support Buyers

Posted: 07/19/2021 - 00:00
Author: Matt Mindrum
The Top 3 ERP Transformations that Support Buyers

B2B companies are currently up to their necks in “digital transformation.” They're moving at a rapid clip to enhance the customer experience through technologies that automate processes while focusing on marketing, sales, and e-commerce. While this was percolating before COVID-19, it’s now all-encompassing and tied into the overall business strategies. On the back end, ERP providers and their VARs are scrambling to keep up. Maybe, just maybe, it’s time to take a step back and look at this through a different lens.  

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