Thought Leadership

  • In the past several decades, global trade has been a force for good. It has driven economic growth, helped millions earn a livelihood and kept the world connected through thick and thin. But all of this has also come at the cost of the environment.  The International Transport Forum estimates that about 7% of global emissions are from trade-related freight transportation. Moreover, ITF predictions indicate that these emissions will increase fourfold by 2050. These are not small numbers. Thankfully, in recent years, the push for sustainable supply chains has significantly increased. Environmental impact has emerged as a blindspot that supply chain leaders are eager to fill in.  Tiny drops make the mighty ocean  Building a supply chain network that serves both your bottom line and the planet well, may seem like a daunting task. But you can always start small. While you may incur additional expenses when implementing sustainable initiatives, the potential long terms savings are bound to outweigh the initial spend.  By 2050, road freight is estimated to account for 56% of emissions. While air transport will account for 9%, according to ITF projections. On the other hand, the CO2 share of maritime freight is estimated to be around 32%, while that of rail freight should be at about 3%. But on a positive note, organisations are investing in doing their bit. For instance,  A.P. Moller – Maersk has accelerated its efforts to decarbonise marine operations with the launch of the world’s first carbon-neutral liner vessel in 2023. Steady steps towards Supply Chain Sustainability  Create a Detailed Map You can’t achieve your sustainability goals without having visibility over your supply chain. The first step in the right direction is to map your entire supply chain. A bird’s eye view will help you uncover inefficiencies and identify risks and impacts. ...
  • As volatility continues into 2021, logistics teams are juggling multiple systems to keep their supply chains running. Amid container shortage, capacity constraints and delays, strategies focused solely on cost savings have taken a back seat in the post-pandemic world, and efforts are being directed towards building more agile and resilient supply chains.  It is here that Procure-to-Pay solutions step in.  Today, supply chain leaders worldwide are looking to control costs and gain transparency over their operations based on real-time data. As a result, organisations are increasingly working towards modernising their procure to pay process.  At its most literal level, this is the process whereby a requisition is made, an order is placed, and once the order is received, payment is made based on an invoice from the supplier. However, the term is increasingly being used to describe software tools that automate the process.  What exactly are Procure-to-Pay software systems?   Procure to Pay (or P2P) platforms are automated systems that integrate procurement with accounts payables in order to streamline the process, ensuring accuracy and creating efficiencies in cost and time. According to Gartner, “A procure-to-pay system is a fully integrated solution designed to support an end-to-end process that begins with goods and services requisitioning and ends with ready-to-pay files for upload into an accounts payable system. In addition to core e-procurement functionality, procure-to-pay solutions offer purchase-order-to-invoice matching and processing for invoices that don’t match or when goods are returned.” Competent procure-to-pay solutions can be seamlessly integrated with your company’s existing ERP solution to ensure easy flow of information, precision and transparency.  Why should companies adopt Procure to Pay solutions?  The procurement to pay process flow is often stalled because of endless documents, multiple ERPs, and dispersed supplier information. A paper-based system further complicates the process, making audits a nightmarish experience.  However,...
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