Driving Success with Procurement Strategies and AI Technologies
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Procurement Strategies and Technologies
In an increasingly competitive and complex business landscape, the development of robust procurement strategies has become essential for organisations striving to maintain a competitive edge.?
These strategies, encompassing everything from supplier selection to risk management, play a crucial role in driving operational efficiency, reducing costs, and ensuring the smooth flow of goods and services.?
By aligning procurement practices with broader business objectives, organisations can unlock significant value, optimise resources, and enhance their resilience in the face of market fluctuations.?
As businesses continue to navigate challenges and opportunities, the importance of well-crafted procurement strategies cannot be overstated.
These themes will be at the forefront of the upcoming event, Procurement & Supply Chain LIVE London 2024.?
Don’t miss the panel discussion, "Procurement & Supply Chain Strategies," where industry leaders, including Ninian Wilson , CEO at Vodafone ; Hugo Sparidans , CPO at Versuni ; Tony Harris , SVP & Chief Marketing & Solutions Officer at SAP ; and Brooke DiNatale , Senior VP and Head of Product for Global Treasury Solutions at 萬事達卡 , will delve into innovative strategies for optimising supply chain efficiency, fostering supplier relationships, and leveraging technology to drive business success.?
This panel will provide invaluable insights from some of the top minds in procurement and supply chain management.
The rapid advancement of technology is revolutionising every aspect of business, and procurement is no exception. Among these innovations, AI stands out as a transformative force, reshaping how organisations manage procurement and supply chain operations.?
From automating routine tasks to enhancing decision-making through predictive analytics, AI offers unprecedented opportunities to improve efficiency, reduce costs, and drive strategic value. As companies strive to stay ahead in a competitive marketplace, understanding and implementing AI in procurement has become a critical priority.
These groundbreaking developments will be the focus of the upcoming panel discussion at Procurement & Supply Chain LIVE London 2024, "AI in Procurement & Supply Chain." Industry leaders such as Olivier Berrouiguet , CEO at Synertrade ; Jessica Vidal , Director Digital Supply Chain at MSD ; Erik Oberl?nder , Head of Procurement Value Creation at 普华永道 ; and Prerna Dhawan , Chief Product Officer at Beroe Inc , will explore the game-changing potential of AI in transforming procurement and supply chain operations.?
This discussion will offer practical case studies, insights on overcoming challenges, and strategies for harnessing AI to enhance decision-making, making it a must-attend event for those looking to stay at the forefront of procurement innovation.
Top Procurement News Stories?
How Altana is Allowing Businesses to Command the Value Chain
Altana has developed a cutting-edge Value Chain Management System that allows businesses to manage complex global value chains effectively. By using AI to analyse extensive supply chain data, Altana provides transparency and control over extended networks, helping businesses and governments manage security, procurement, compliance, and sustainability.
With significant investment backing, Altana is poised to expand its platform, addressing critical challenges such as economic security, carbon emissions, and supply chain resilience.
Women in Supply Chain & Procurement: PSC LIVE London Panel
The "Women in Supply Chain" panel at Procurement & Supply Chain LIVE in London highlighted the significant impact of women leaders in the supply chain and procurement industries. The discussion focused on overcoming gender biases, fostering diversity, and the importance of mentorship in advancing women's roles within the sector.
Panellists, Freya Hurwitz , Director of Global Procurement, Tripadvisor , Rachael Legg FCIPS / MEng Hons / EMBA , Interim Chief Procurement Officer, Transformation, Rolls-Royce and Regina Arriagada , Global Head of Procurement Technical and Logistics, 雀巢 share insights on how inclusivity drives innovation and efficiency, emphasising the need for systemic changes to support female professionals.
PSC LIVE London Welcomes 2 New Speakers From PwC & Versuni?
At the Procurement & Supply Chain LIVE event in London, 普华永道 and Versuni introduced two new speakers, Erik Oberl?nder , Head of Procurement Value Creation at 普华永道 and Hugo Sparidans , CPO at Versuni , who addressed key trends and innovations in procurement strategy. These experts shared insights on how businesses can leverage emerging technologies and data-driven approaches to enhance their supply chain operations. Their contributions underscored the importance of adaptability and forward-thinking in a rapidly evolving industry.
Lifetime of Achievement: Lynn Torrel
Lynn Torrel , Global VP of Strategic Sourcing at 谷歌
This month’s Lifetime of Achievement in Procurement awardee is Lynn Torrel . She is the Global VP of Strategic Sourcing at 谷歌 and has over 25 years of experience in procurement and supply chain management. Her career spans roles at 伟创力 , 安富利 and Wyle Electronics , where she developed a reputation for innovation, collaboration, and managing complex global supply chains.
Torrel was recognised for her leadership during the pandemic and her commitment to continuous learning and professional growth, making significant contributions to the industry throughout her career.
“I think it’s just an internal part of my nature, I am a lifelong learner so every day, I am excited to learn something new. It is that internal desire to continue to learn and expose myself to challenging situations and to see how I will react, and where I could take my career.” - Lynn Torrel
Top 10: Risk Management Strategies in Procurement?
Procurement Magazine outlines key risk management strategies crucial for success in today's complex procurement landscape. These strategies focus on mitigating risks, enhancing efficiency, and maintaining a competitive edge.?
领英推荐
Effective risk management involves robust cybersecurity, thorough risk assessments, strong supplier relationships, and advanced spend analysis.?
Implementing these strategies helps procurement leaders navigate challenges and safeguard operations from disruptions.?
Not to miss: Executive Insight with Ken Bradley at Lytica on Driving Business Success
At Procurement & Supply Chain LIVE New York 2024, Ken Bradley , Chief Strategy Officer at Lytica Inc. , emphasised the importance of digital transformation in procurement.?
He highlighted how leveraging data and analytics can optimise strategies, enhance supplier relationships, and manage risks more effectively.?
Bradley also stressed that successful procurement strategies require detailed implementation and alignment with business goals, cautioning against automating ineffective processes without first ensuring strategic alignment.
Want to be part of the next Procurement & Supply Chain LIVE event? Get your tickets for our next event in London on the 24-25 of September.?
Company Report Highlight
Vanquis : Phenomenal Procurement Transformation
The article from Procurement Magazine details the extensive procurement transformation at Vanquis , led by Steven Schools , Head of Procurement & Supplier Governance. The transformation focused on unifying and standardising procurement processes across the bank's previously siloed divisions, improving efficiency and cost savings.?
Schools' pragmatic approach has been instrumental in aligning procurement with the broader business strategy, ensuring regulatory compliance, and supporting large-scale projects, including IT infrastructure overhauls.?
The initiative has positioned Vanquis to be more agile and responsive in the financial market.
Other company reports for August include:?
The Biggest Event of the Year to Date: Less Than One Month to Go
There is less than one month to go until Procurement & Supply Chain LIVE London! Have you got your tickets yet?
With thousands of attendees expected in-person and virtually, this 2-day hybrid event is packed with:
Join industry leaders from top companies like SAP , 萬事達卡 , GE医疗 , Vodafone and Danish Crown as we dive into key topics such as transformation, technology, AI, strategy, sustainability, and more.
Procurement & Supply Chain LIVE London is a CPD accredited event. Earn up to 10 CPD points by attending!
About Procurement Magazine
Procurement Magazine remains an essential hub for procurement professionals, providing a rich platform for sharing industry insights, innovative strategies, and key achievements.?
From exploring AI's transformative impact on supply chains to highlighting risk management strategies, sustainability initiatives, and the importance of diversity in leadership, our content is tailored to empower executives with the tools they need to succeed.?
Stay engaged with our LinkedIn Newsletter and digital community to stay ahead of the latest trends, best practices, and thought leadership shaping the future of procurement.
Do this through a magnitude of digital media such as interviews, articles, case studies, videos and webinars. Download the Media Kit for more information.
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Don’t forget to join industry leaders at Procurement & Supply Chain LIVE London on 24-25 September 2024.