A Fresh View of Data from Global Data Consortium

Trust Your Supplier business partners enrich our procurement members consolidated view of their suppliers for a broader inspection of potential risk.  Global Data Consortium (GDC), a digital identity verification partner, offers a fresh view of data in their blog, “Data Isn’t the New Oil. It’s the New Water & You Want Pellegrino or Evian Instead of Tap.” 

https://www.globaldataconsortium.com/data-isnt-the-new-oil-its-the-new-water/  

#digitalidentity #datasecurity 

4 Key Areas for Consideration Regarding the EU Green Deal

Wherever possible we are looking at policies and working with our #compliance partners to make sure our questionnaires are up to date with the fast-moving, regulatory compliance within each region. 

Our environmental, social & corporate responsibility compliance partner, EcoVadis, has established 4 key areas for consideration regarding the EUGreen Deal. Get the whitepaper to learn more. 

https://resources.ecovadis.com/whitepapers/eu-policy-recommendations-for-sustainable-supply-chains 

Learn more about EcoVadis’ partnership with Trust Your Supplier at https://trustyoursupplier.com/portfolio/ecovadis/  

#SustainableSupplyChains #ESGstrategy

New Podcast Episode – Supplier Diversity

On Trust Your Supplier’s podcast, Procurement Block, we get to hear from the people who are at the forefront of procurement innovation.  

On this latest episode, I am being schooled by Michael Robinson.  Michael K. Robinson is the Program Director of Global Supplier Diversity for IBM’s Integrated Supply Chain. He is responsible for leading IBM’s supplier diversity initiatives worldwide. In this role, Michael, and his team, focus on the utilization, development and mentoring of diverse suppliers who can provide value-add to IBM’s Supply Chain. 

Under Michael’s leadership, IBM has been recognized for numerous awards including Corporation of the Year by the NMSDC (3x), one of the Top Corporations by WBENC (13x), and one of DiversityBusiness.com’s Top Corporations to name a few.   IBM has spent in excess of $2Billion, 1st Tier, annually worldwide with diverse enterprises since 2006 and in excess of $1B, 1st Tier, annually with diverse enterprises in the U.S. since 2000. 

Michael brings his wealth of knowledge and experience to our conversation on supplier diversity. He explains how to jazz up your supplier diversity program by understanding the benefits, how to identify and attract diverse suppliers, and what to take into consideration when implementing or expanding a program. 

Listen to our conversation and get more information from the show notes at ProcurementBlock.com.

Hyperledger Member Summit

Trust Your Supplier’s General Manager, Gary Storr,  provided his expertise on Transforming Existing Markets: Hyperledger Production Networks at the Hyperledger Member Summit.

Blockchain technology provides a lot of value when implemented as part of a digital transformation project – data security, auditing capabilities, and more. “81 of top 100 companies use blockchain technology including Hyperledger Fabric!”

Designed for trust and secure trading, blockchain powers our supplier information management system. Learn more at https://trustyoursupplier.com/about/blockchain/ 

Trust Your Supplier – ISCM Best Procurement Technology Award

Chainyard is the recipient of the Institute of Supply Chain Management (ISCM) 2021 award in the category of Best Procurement Technology for our solution Trust Your Supplier!

The awards ceremony was held on August, 21, 2021 in Mumbai. Just as ISCM is a thought leader to the supply chain community, Trust Your Supplier ( ) endeavors to have a transformational impact to the same through our network solution and innovative marketplace.  We are thankful for this recognition and eager to continue contributing to ISCM and the global supply chain industry.

Visit our Awards page to learn more about how Trust Your Supplier and Chainyard are being recognized in the blockchain, procurement and supply chain communities.

Launching August 11th – Procurement Block Podcast

How does understanding the lifecycle of a frog help you build stronger supplier/customer relationships?  We have the answer on Procurement Block, a new podcast designed to school procurement newbies and seasoned professionals alike.  

Join us as we take a big leap into podcasting and learn from the game changers who are leading the initiatives around blockchain, risk management, and change management.  

Launching August 11th at www.ProcurementBlock.com 

Procurement challenges that could impact business profitability and continuity are solved by Trust Your Supplier

By Praveen Rao
Managing Director, Supply Chain Solutions and Partnerships
IBM Industry Platforms

Today’s businesses are operating in an increasingly complex world in which risk and volatility are putting new pressure on day-to-day business operations. A study by IBM indicates businesses are spending more than 50 percent of their revenues on procuring goods and services from their supplier base. Leading procurement organizations must excel in the fundamentals of reducing cost, ensuring compliance, driving performance and ensuring innovations in the supply base.  

In today’s procurement world, a keystone in the sourcing strategy is to have vendor management methods that foster engaging with the right suppliers at minimal cost. This involves managing all aspects of supplier lifecycle from discovery and qualification to onboarding and monitoring.  

Continuous monitoring of the supplier performance in today’s fast-paced and global environment, along with supplier rationalization as a key piece of strategy, must be considered by procurement organizations to innovate in driving better supplier management. In our conversations with large procurement organizations, these are some of the top procurement challenges for 2021 and beyond: 

  • Reduce spend cost
  • Lack of resiliency in supply chains
  • Lack of risk mitigation around onboarding unfavorable suppliers
  • Outdated procurement systems
  • Lack of analytics for insights around supplier performance
  • Not enough focus on sustainability and diversity of supplier base
  • Dark purchasing that happens outside the approved procurement processes 

So how do procurement organizations drive change to face these challenges? Trust Your Supplier (TYS) works with a network of enterprise buyer organizations to bring digital transformation to their industries. As an integral part of their strategy, the TYS blockchain platform is bringing transparency and supplier visibility at every touchpoint. The supplier owned profile, with information needed for onboarding and qualification, can be cross referenced against industry recognized validators to reduce your organization’s overall procurement cost and to support compliance activities such as diversity, sustainability, cyber security, and anti-corruption. 

TYS boasts a rich marketplace of business partners that cater to evolving risks such as:  supplier Identity, firmographics, financial, sustainability, cybersecurity, governmental sanctions, compliance and screening for undesirable entities.  

Furthermore, TYS has partners into your supply chain resiliency and potential disruptions that could arise from unplanned events such as a pandemic or natural calamities. Marketplace providers offers continuous monitoring capabilities to ensure that your risk data is kept up to date with evolving market conditions. These solutions are offered through free basic data sets, bring your own license, and commercial license purchasing options. 

To learn more about how Trust Your Supplier can help with your organization address these top procurement challenges and bring innovation to your supplier management process, please contact us to speak with an expert.   

Praveen Rao
Email:[email protected]
Twitter:https://twitter.com/prao1

Telecom Roundtable

Insights from the Innovators…Cyril Pourrat, Sanjay Mehta and Ninian Wilson discuss how they are bringing digital transformation to BT, Nokia, Vodafone, and the telecom industry with Trust Your Supplier. Hear what you should be thinking about as you embark on the path to transforming your organization and your industry. 

Listen to their conversation