Sourcing for a Resilient, Sustainable Supply Chain
Why are so many organizations investing in their supply chains to ensure that they are resilient, sustainable, and compliant? Nico Bac of Digital Procurement Now and Dawn Tiura of SIG help to answer this question as they discuss the results of an SIG survey of 100 sourcing executives. Watch now!
Tune in to find out more about the following topics, among others:
- How to improve decision-making in a sourcing landscape with multiple dimensions
- How to make decisions to anticipate and respond to disruptions
- The main governance and compliance challenges of sourcing executives
- Why better collaboration helps companies maintain continuity in a rapidly changing business environment.
Watch this on-demand webinar with Nico Bac, Founder of Digital Procurement Now, and SIG’s CEO, Dawn Tiura as they share a sneak peek of data from a survey of 100 sourcing professionals conducted by SIG in partnership with Coupa.
Featured Speakers
Nico Bac
Founder
Digital Procurement Now
Dawn Tiura
CEO
SIG
In the last few years, we've learned the importance of the resiliency and sustainability of supply chains, and those of us in procurement play a central role in making supply chains more resilient and sustainable and implementing tools that will enable us to do so.
FAQ
Who is Nico Bac?
Nico Bac is the founder of Digital Procurement Now, one of Coupa's partners. He has served as the Source-to-Pay Digital Transformation leader at Procter & Gamble, and he has over twenty years of experience in strategic sourcing, including packaging, contract manufacturing, and IT. He also has extensive experience leading and developing sourcing teams. He's also an expert in digital procurement, change management, and technology selection.
What are some of the many challenges facing sourcing professionals these days?
The top challenge is how to be agile in the face of a rapidly changing supply chain landscape and numerous disruptions. In addition, company leaders and Board of Directors are becoming more committed to ESG goals, which puts more pressure on sourcing teams as they evaluate and select suppliers. On top of these new priorities, sourcing teams must cope with limited supplies of materials as well as increasing supplier pressure. They also are faced with added complexity in sourcing decisions as well as a heavier workload. The implication of all of these challenges is that sourcing teams must become more efficient, more agile, and more strategic.
What impact does new legislation have on sourcing teams?
In January of 2023, companies with a registered office or branch in Germany and with more than 3,000 employees will have to comply with the German Supply Chain Act, and companies with more than 1,000 employees will be required to comply starting in 2024. Sourcing teams have increased due diligence obligations in supply chains with regards to human rights and environmental standards. They will also have to implement systematic risk management processes for not just their own business but also for third parties, as well as perform risk management on an ad hoc basis for 4th parties. This isn't just a process that protects brands, but to avoid fines, as companies with an average annual turnover of more than 400M euros may be fined up to 2% of their average annual turnover for being out of compliance.
