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30 articles on Digitization.
As the effects of climate change continue and scientific communities around the world urge citizens and businesses alike to make more eco-friendly decisions, more organizations are prioritizing net-zero emissions. However, doing so is a huge undertaking that many capital procurement teams are unpr
As data volumes and complexity grow, procurement professionals increasingly recognize the need for accurate and transparent data management. This is essential for managing equipment flow, selecting suppliers, negotiating contracts, and mitigating risks. Data has long been a problem for procurement,
Requis’ Public API resolves data silos and provides Energy, Construction, and Manufacturing industries a way to connect relevant data for reduced risk and higher ROI. Data is the lifeblood of any capital procurement project. No matter the industry, the ability to source suppliers and materials usin
As humans continue to smash through our planet’s safe environmental limits, The Circle Economy’s 2023 Circularity Report acts as an urgent call for a change in global material consumption. Understanding Current Circularity Issues After years of research, report authors offer several measures that
The construction industry lost $1.84 trillion due to insufficient data used in decision-making. Requis’ API creates a digital bridge between financial, asset management, and procurement technologies used by energy and resource operators and engineering and construction companies. The API transfers i
With a click of a button, operators can map, share and access their peers' material and equipment inventory globally in a central and collaborative "digital warehouse." Requis Visibility will give maintenance and turnaround teams, supply chain professionals, and project managers access to material a
In an episode of Supply Chain Next, Humberto Olivo, Managing Partner at Volpi Ventures LLC, discusses investing in new technologies for a sustainable world. When asked how he found his way to sustainable investment, he stated, "My background is in the financial sector as a trader, investment banker,
In Part Two of this series, this blog discusses how advanced technologies and digital platforms support improved connectivity and communication between suppliers and buyers in digital procurement. In Part 1 of this series, we discussed how suppliers are disadvantaged because most software applicati
In today’s marketplace, suppliers can use collaborative relationships and digital platforms to shift from a cost-reduction focus to build-value cultures. In the global marketplace, traditional procurement processes are not efficient. Remote work and an increase in digitization have radically change
A recent PwC Global Digital Procurement survey reported that over 50% of responding companies struggle to leverage their procurement data. Consequently, many organizations are reevaluating their supply chain and sourcing systems, including risk management, cost reductions, strategic sourcing, and tr
Enterprises need a KPI that transforms supply chains to be more circular in resource consumption and management — the Circularity Ratio is the answer here's why. The circularity ratio is the latest KPI that can revolutionize the circular economy. Similar to the power usage effectiveness (PUE) metric
Requis has launched an educational webinar series, NetworkED, to provide valuable information for its community. Sustainability is a tough conversation. However, innovators, Tradewater and Requis are empowering businesses to attain sustainable supply chains and reduce their carbon footprint. As pa
Companies are under pressure to improve their ESG performance to investors, the government, and the public. Besides environmental practices, ESG initiatives include developing supplier diversity programs. Such policies address creating supply chain and procurement plans with diverse groups, such as
The largest decarbonization project in Europe is following a sustainable approach. Drax, the leading UK provider of biomass-based electricity, submitted plans to construct the largest bioenergy with carbon capture and storage (BECCS) operation at its North Yorkshire power station. Working with its e
After years of buying and trying single-vendor software suites, organizations realize these options fail to deliver the desired results, especially in procurement and supply chain management. Legacy software attempts to do “everything for everyone” across the enterprise but the impact is users' prod
As part of Supply Chain Week 2022, Esther Chan, Senior Manager of Global SCM of Requis, led a lively panel discussion with end users and technology providers about digital supply chain management developments. Ms. Chan opened the session by asking the panel, “How are industry leaders approaching dig
Requis’ software improves RFX and ESG reporting for supplier qualifications and other product enhancements As companies adopt more digital technologies, project and supply-chain managers still encounter productivity barriers, including: Lack of transparency of partners and suppliers Outdated informa
COVID-19 exposed the grave weaknesses present in supply chains. Consequently, project managers, supply-chain management, and compliance groups are searching for ways to strengthen supply chains and minimize risks from material shortages, dependency on overseas suppliers, and geopolitics. At Requis,
In year two of our quest to bring visibility to the supply chain industry's problems, both within the enterprises that manage them and in the public eye, we hope more businesses put effort into supply chain transparency. This hope, in turn, will allow the inefficiencies to surface so they can contin
Investment recovery expert Lisa DeViney explores how asset visibility helps your organization optimize inventory, save on costs by redeploying, and recover costs by recirculating anything that you can’t use.
Gartner is justifiably famous for their Magic Quadrant evaluations. But their term for supply chain platforms, multienterprise supply chain business networks (MESCBNs), is problematic. Here's why.
There’s no one-size-fits-all process to digital transformation, but there are some essential steps that any business can take to discover the right path.
Digital twins are essential for businesses that want to improve efficiency, mitigate risks, and take advantage of other advanced technologies like machine learning/AI.
We are on the brink of a major shift in the way that businesses work. Enabled by ever-improving digital infrastructure, spurred on by technical innovations of all kinds, and accelerated by the COVID-19 pandemic, supply chains are increasingly evolving into value networks.
What we can learn from the supply chains that adapted more easily to COVID-19 disruptions. One thing is clear: digitization is the essential first step.
Business ROI and the circular economy go hand in hand. In this article, we did the math on the potential benefit for businesses and the environment. Spoiler: it’s massive.
As we enter the Decade of Supply Chain, any enterprises that haven't achieved E2E digitization will need a playbook— like the one we've provided here.
Because supply chain is the one part of the business that can never fail, supply chain managers can be hesitant to change. Here's a way to manage the risk.
Digitalizing your supply chain now will help your business prepare to take advantage of new technologies more easily—before you get left behind.
Over the past 10 years, we have radically changed the way we search, buy, sell, and even own, goods and services. Whether we realize it or not, we are digitizing every aspect of our personal lives. So why is it that our working lives are still so different?
Find out how Requis aligns financial and environmental targets for both buyers and sellers for capital projects.
