Jul 28, 2020

Ivalua Recognised As One of Forrester's Top Leaders

Ivalua
Forrester
Jack Grimshaw
2 min
Ivalua Recognised As One Of Forrester’s Top Leaders
Ivalua Recognised In The Forrester Wave™: Supplier Risk & Performance Management Platforms, Q3 2020...

Now more than ever before, it is crucial that supplier information, risk management, and performance is not only well understood, but plays a critical role in the continuity of business.

This report from Forrester explores and analyses 10 of the most significant and important providers in the current market, and has recognised Ivalua as a leader in yet another Forrester Wave. Ivalua has now been noted as a leader in Source-to-Contract Suites, eProcurement Platforms, and is amongst Gartner’s Magic Quadrant of leaders for Procure-to-Pay Suites also.

According to the Forrester report, Ivalua has successfully scored in the top two leaders for the current offering category, and is amongst the top five for the strategy section too. Its SRPM suite helps it to offer a broad, rich range of solutions in its Supply Value Management (SVM) suite.

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With prescriptive abilities in available for less mature organisations, and the fact that it’s well-suited and compatible with larger, more complex and mature organisations, requiring enterprise-grade platforms that can be tailor-made to met needs, the Ivalua solutions are accessible and usable for all.

In 2019, SRPM products grew by 15%, with chief procurement officers (CPOs) working to replace older, less traditional and ineffective systems with more modern products, less complex and more comprehensive, built for purpose.

Specialist third-party risk management (TPRM) solutions, or modules that reside within a wider SVM suite of solutions, have also been adopted by CPOs as they look to not only simplify, but accelerate operations to the next level.

Ineffective, outdated and inefficient manual processes, typically based on emails, spreadsheets and other tedious methods of working, have also been replaced in the last few years, with the advent of new technologies sweeping through the industry. The need for improved processes, especially those driven by technology and, in many cases, automation, has only been highlighted in the months that have passed since the COVID-19 pandemic broke out in Wuhan, China.

Too much dependency is placed on suppliers, whilst the types of risk and sources of data continue to grow. For this reason, CPOs have been looking elsewhere to manage their supply chains and the processes that take place within them. Improved SRPM products, such as Ivalua’s, have been crucial to supply chain networks as they work to improve, both before, during, and after the coronavirus pandemic. 

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Jun 9, 2021

Biden establishes Supply Chain Disruptions Task Force

supplychain
Supplychainriskmanagement
Procurement
Biden
3 min
US government lays out plans for supply chain transformation following results of the supply chain review ordered by President Biden in February

The US government is to establish a new body with the express purpose of addressing imbalances and other supply chain concerns highlighted in a review of the sector, ordered by President Joe Biden shortly after his inauguration. 

The Supply Chain Disruptions Task Force will “focus on areas where a mismatch between supply and demand has been evident,” the White House said. The division will be headed up by the Secretaries of Commerce, Transportation, and Agriculture, and will focus on housing construction, transportation, agriculture and food, and semiconductors - a drastic shortage of which has hit some of the US economy’s biggest industries in consumer technology and vehicle manufacturing. 

“The Task Force will bring the full capacity of the federal government to address near-term supply/demand mismatches. It will convene stakeholders to diagnose problems and surface solutions - large and small, public or private - that could help alleviate bottlenecks and supply constraints,” the White House said. 

In late February, President Biden ordered a 100 day review of the supply chain across the key areas of medicine, raw materials and agriculture, the findings of which were released this week. While the COVID-19 health crisis had a deleterious effect on the nation’s supply chain, the published assessment of findings says the root cause runs much deeper. The review concludes that “decades of underinvestment”, alongside public policy choices that favour quarterly results and short-term solutions, have left the system “fragile”. 

In response, the administration aims to address four key issues head on, strengthening its position in health and medicine, sustainable and alternative energy, critical mineral mining and processing, and computer chips. 

Support domestic production of critical medicines

 

  • A syndicate of public and private entities will jointly work towards manufacturing and onshoring of essential medical suppliers, beginning with a list of 50-100 “critical drugs” defined by the Food and Drug Administration. 
  • The consortium will be led by the Department of Health and Human Services, which will commit an initial $60m towards the development of a “novel platform technologies to increase domestic manufacturing capacity for API”. 
  • The aim is to increase domestic production and reduce the reliance upon global supply chains, particularly with regards to medications in short supply.


Secure an end-to-end domestic supply chain for advanced batteries

 

  • The Department of Energy will publish a ‘National Blueprint for Lithium Batteries’, beginning a 10 year plan to "develop a domestic lithium battery supply chain that combats the climate crisis by creating good-paying clean energy jobs across America”. 
  • The effort will leverage billions in funding “to finance key strategic areas of development and fill deficits in the domestic supply chain capacity”. 


Invest in sustainable domestic and international production and processing of critical minerals

 

  • An interdepartmental group will be established by the Department of Interior to identify sites where critical minerals can be produced and processed within US borders. It will collaborate with businesses, states, tribal nations and stockholders to “expand sustainable, responsible critical minerals production and processing in the United States”. 
  • The group will also identify where regulations may need to be updated to ensure new mining and processing “meets strong standards”.


Partner with industry, allies, and partners to address semiconductor shortages

 

  • The Department of Commerce will increase its partnership with industry to support further investment in R&D and production of semiconductor chips. The White House says its aim will be to “facilitate information flow between semiconductor producers and suppliers and end-users”, improving transparency and data sharing. 
  • Enhanced relationships with foreign allies, including Japan and South Korea will also be strengthened with the express proposed of increasing chip output, promoting further investment in the sector and “to promote fair semiconductor chip allocations”. 
     

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