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Supplier Planning: It’s all about Big Data

In AI, Big Data, Machine learning by VendorMach

Over a fifth of 400 enterprise buyers blamed supplier failure for higher insurance premiums, damaged reputation and loss of customer trust according to a Tungsten report. The challenges faced by businesses include cyber fraud and siloed data which impact customer service, product quality and operations. Is it really all about the data? Yes. Data is growing faster than ever before and by the year 2020, about 1.7 megabytes of new information will be created every second for every human being on the planet. IDC estimates that unstructured content already accounts for a staggering 90 percent of all digital data, much …

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Supplier risk management is all about the pre-plan

In Big Data by VendorMach

Supply chain failures compromise the ability of an organisation to operate effectively and in extreme circumstances even to survive. Yet many businesses struggle to mitigate the risk of such failures due to poor vendor risk management: research from CIPS suggests fewer than half of procurement professionals consistently put strategies in place to counter the dangers, while similar numbers haven’t analysed the potential costs associated with disruption. See the rest of this article and tips from VendorMach here

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Cyber security and your business risk

In Big Data, Invoices, Regulation by VendorMach

According to Allianz’s Risk Barometer 2017, Cyber Incidents is a top global business risk in the UK and Germany in 2016 while Business Interruption (related to supply chain risk and interdependencies) is the top business risk in the United States and France (with cyber incidents, the 2nd top issue in US and France) Cyber incidents such as attacks and breaches have grown in frequency. Breaches hit a new record in 2016, soaring to 1,093 and accounting for 37 million records, up from 780 incidents in 2015 per the Insurance Information Institute (III). According to a new report from the Institute, …

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Supply chain analytics and Automation

In AI, digital transformation, KYC by VendorMach

Last week VendorMach had a busy couple of days exhibiting at CogX 2017. An AI forum drawing audiences from startups and corporates, it was a good mix of people, a vibrant atmosphere, and some of the best brands in tech. We had a number of stimulating conversations and continue to learn that supplier risk management is a pain point across industries. Automation in online and offline retail Retailers find themselves operating ever more complex supply chains. One online fashion retailer in particular prides themselves on top customer service and efficient delivery and return handling. This involves flawless management of thousands …

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VendorMach CEO talks digital transformation on CIOReview

In AI, Big Data, CIO, digital transformation by VendorMach

VendorMach CEO looks into the future of AI and digital transformation with CIOReview. Here is an excerpt – Do you believe that artificial intelligence will change the modern way of living? How is it impacting society? Sure, it will change core behaviors and expectations – and cause less reliance on humans. One can argue whether we really need our own driverless cars or personal robots?  If we rephrase the question, can certain industries use driverless cars or robots to improve speed, reduce error and accuracy that ultimately serve consumers then yes, it will be a positive impact.  To reach the …

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Nine steps for CIOs towards Supply Chain Management

In AI, Big Data, CIO by VendorMach

Due to the growing digital footprint and impact of systems and architecture with business processes, the role of a CIO has become more important than ever. Here are nine steps they can take to be successful: 1. Make time to manage both IT and the supply chain  CIOs juggle many different priorities and struggle to meet competitive demands As IT and business processes become more and more interconnected, CIO’s should contribute more to business strategy such as the supply chain. Many organisations have a centralised ‘Information’ function. Enterprise resource platforms (ERPs) bring together the IT and business processes for a …