{"id":387,"date":"2021-08-19T04:00:00","date_gmt":"2021-08-19T04:00:00","guid":{"rendered":"https:\/\/craftco.wpenginepowered.com\/craft-forge-dollars-and-sense-event-recap\/"},"modified":"2023-12-06T22:21:13","modified_gmt":"2023-12-06T22:21:13","slug":"craft-forge-dollars-and-sense-event-recap","status":"publish","type":"press","link":"https:\/\/global.craft.co\/newsroom\/craft-forge-dollars-and-sense-event-recap\/","title":{"rendered":"Craft &#8220;Forge: Dollars and Sense&#8221; Event Recap."},"content":{"rendered":"<p>As a proud conference sponsor, Craft recently had the opportunity to participate in the FORGE: Dollars &amp; Sense event, organized by <a href=\"https:\/\/procurementfoundry.com\/\">Procurement Foundry<\/a> on August 5.&nbsp;<\/p>\n<p><\/p>\n<p>Over 500+ delegates from Procurement Foundry&#8217;s global community of 5,000+ sourcing and supply chain professionals (as well as non-members) attended the live virtual event.&nbsp;<\/p>\n<p><\/p>\n<p>Featuring discussions with top procurement leaders spanning multiple industries, including Ebiquity, Kantar, Deloitte, Scotiabank, and more, the virtual conference was &#8220;designed to help [attendees] uncover and put into play, cutting-edge tools and technologies advancing procurement.&#8221;&nbsp;<\/p>\n<p><\/p>\n<p>Our team had the pleasure of leading two sessions at the event:&nbsp;<\/p>\n<p><\/p>\n<ul>\n<li>&#8220;<a href=\"https:\/\/info.craft.co\/2021-forge-dollars-and-sense\">Deploying Intelligent Management of Your Supplier Ecosystem<\/a>&#8221; hosted by Craft CEO Ilya Levtov and Director of Deloitte, Aaron Parrott.\n<\/li>\n<li>&#8220;<a href=\"https:\/\/info.craft.co\/2021-forge-dollars-and-sense-1-0\">How Hapag-Lloyd Re-Engineered Its Approach to Supplier Risk Mitigation and Supplier Transparency with Craft<\/a>&#8221; hosted by Seb Butt, General Manager for EMEA at Craft and Ingmar Mester Manager of Supply Management at Hapag-Lloyd.<\/li>\n<\/ul>\n<p><\/p>\n<p>We&#8217;ve summarized the highlights for you below:&nbsp;<\/p>\n<\/p>\n<h3>Breakout Session: Deploying Intelligent Management of Your Supplier Ecosystem<\/h3>\n<figure class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2238px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2238px\">\n<div><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/611ee403b6b86449c6072e7b_Screen%20Shot%202021-08-19%20at%205.03.57%20PM.png\" loading=\"lazy\" width=\"auto\" height=\"auto\"><\/div>\n<\/figure>\n<p>Craft CEO and co-founder Ilya Levtov was joined by Aaron Parrott, Managing Director at Deloitte for a discussion on rethinking supplier management.&nbsp;<\/p>\n<p><\/p>\n<p>They tackle a few key questions:<\/p>\n<p><\/p>\n<ul>\n<li>What do supply chains look like 18 months into the pandemic?<\/li>\n<li>What lessons have companies taken away from this experience?&nbsp;<\/li>\n<li>How well does a company know what&#8217;s going on within its supply base?<\/li>\n<li>How are organizations shifting their priorities around cyber?<\/li>\n<\/ul>\n<p><\/p>\n<p>Here are some of the takeaways:<\/p>\n<p><\/p>\n<h3>Rethinking how to effectively manage the health of your supplier ecosystem<br \/><\/h3>\n<p>In light of the COVID-19 pandemic, supply chains around the world experienced disruption-the effects of which are still impacting suppliers and markets today.&nbsp;<\/p>\n<p><\/p>\n<p>But what lessons have companies taken away from this experience?&nbsp;<\/p>\n<p><\/p>\n<p>Parrott noted that very few companies will go back to the way things were before. The majority of companies fall into two camps:&nbsp;<\/p>\n<p><\/p>\n<ol>\n<li>Either looking into mitigation strategies and dabbling in more proactive management with some of their suppliers or,\n<\/li>\n<li>Focusing on full-on engagement with their suppliers. These companies take the posture that they never want to be put in this situation again and will take a multi-tier approach to supply chain management and intelligence to proactively mitigate risk within their supply base.<\/li>\n<\/ol>\n<h3>Visibility of your risk<\/h3>\n<p>Part of this new post-pandemic supply landscape is re-examining risk. And one of the big questions for supply chain leaders is &#8220;How well does their company know what&#8217;s going on within their supply base?&#8221;<\/p>\n<p><\/p>\n<p>When it comes to cybersecurity, &#8220;supply chain is the great unguarded flank of the enterprise,&#8221; says Levtov.<\/p>\n<p><\/p>\n<p>&#8220;We&#8217;re starting to see a shift in the manufacturing space,&#8221; says Parrot, &#8220;that cyber is much more important than just protecting my IP and [&#8230;]making sure that no one is stealing it.&#8221; Now companies are recognizing that a cyberattack can potentially shut down their supply chain.&nbsp;<\/p>\n<p><\/p>\n<p>So the question then becomes: How do you address it and when you identify a cyber attack in your supply network, what do you do?<\/p>\n<p><\/p>\n<p>Now more than ever, understanding and managing those risks within your supply chain is crucial to ensure resiliency.&nbsp;<\/p>\n<p><\/p>\n<p>See the full session <a href=\"https:\/\/info.craft.co\/2021-forge-dollars-and-sense\">here<\/a>.&nbsp;<\/p>\n<\/p>\n<h3>Lunch &amp; Learn: How Hapag-Lloyd Re-Engineered Its Approach to Supplier Risk Mitigation and Supplier Transparency with Craft<\/h3>\n<figure class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width:2234px\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"2234px\">\n<div><img decoding=\"async\" src=\"https:\/\/uploads-ssl.webflow.com\/5e3d65bca5399c2289ec82c2\/611ee414edf26300df06808a_Screen%20Shot%202021-08-18%20at%2010.10.14%20AM.png\" loading=\"lazy\" width=\"auto\" height=\"auto\"><\/div>\n<\/figure>\n<p>Hapag-Lloyd is a global container line business with a significant supply chain consisting of 40,000 suppliers. To manage this large-scale supplier base, the company created a procurement team led by Ingmar Mester.&nbsp;<\/p>\n<p><\/p>\n<p>We were excited to sit down with Mester at this event to discuss the challenges facing Hapag-Lloyd and how Craft&#8217;s unique supplier intelligence solution helped solve them.<\/p>\n<p><\/p>\n<p>Here are the highlights of our conversation:<\/p>\n<p><\/p>\n<h3>What were some of the challenges you were facing before Craft?<br \/><\/h3>\n<p>The main problem they faced was a lack of supply market and supplier transparency.&nbsp;<\/p>\n<p><\/p>\n<p>The company didn&#8217;t have a synchronized approach to collecting intelligence about the supply base, leading to confusion and missed opportunities. In some cases, suppliers fell through or were taken over without notice-leaving Hapag-Lloyd scrambling.&nbsp;<\/p>\n<p><\/p>\n<p>&#8220;This really cost us money because we were not prepared and had to react quickly,&#8221; said Mester. &#8220;So at the end of the day, when I came in, [I] very quickly learned that there&#8217;s one big task: How can we set up a global source of data for facts and figures about our suppliers? And how can we become the first to know about any relevant news that happened?&#8221;<\/p>\n<\/p>\n<h3>How is Craft supporting Hapag-Lloyd to solve these challenges?<br \/><\/h3>\n<p>Craft&#8217;s supplier intelligence solution helps Hapag-Lloyd stay informed and prepared to act on changing supplier landscapes.&nbsp;<\/p>\n<p><\/p>\n<p>Mester says two main features stand out:&nbsp;<\/p>\n<p><\/p>\n<ul>\n<li>Craft&#8217;s Company Profiles<\/li>\n<li>Craft Alerts<\/li>\n<\/ul>\n<p><\/p>\n<p>Craft pulls together supplier details ranging from public financials to lesser-known public and private company and market news. This provides a comprehensive view of their supplier ecosystem.&nbsp;<\/p>\n<p><\/p>\n<p>Craft Alerts provides real-time monitoring of their suppliers and notifies the team when there is news-ensuring they always have the most up-to-date information at their fingertips.&nbsp;<\/p>\n<p>&#8220;I always try to describe it to my colleagues in Hapag-Lloyd as sitting in the procurement armchair,&#8221; says Mester, &#8220;relaxed and waiting for the email from Craft to arrive whenever there is any news available in that Craft has detected.&#8221;<\/p>\n<p><\/p>\n<p>This gives Mester and the Hapad-Lloyd team peace of mind that they won&#8217;t miss important news or get overwhelmed searching through piles of data.&nbsp;<\/p>\n<p><\/p>\n<p>&#8220;This saves us so much time that we can dedicate to added-value activities. And this will benefit all of Hapag-Lloyd.&#8221;<\/p>\n<\/p>\n<h3>Presenting Use Cases on the Craft Portal<\/h3>\n<p>Mester then walked through various use cases of the Craft Portal, demonstrating the powerful ways Craft helps Hapag-Lloyd manage their supplier intelligence.<\/p>\n<p>See the full presentation <a href=\"https:\/\/info.craft.co\/2021-forge-dollars-and-sense-2\">here<\/a>.<\/p>\n","protected":false},"author":1,"featured_media":388,"template":"","class_list":["post-387","press","type-press","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.3 (Yoast SEO v25.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Craft &quot;Forge: Dollars and Sense&quot; Event Recap. - Craft.co<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/global.craft.co\/newsroom\/craft-forge-dollars-and-sense-event-recap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Craft &quot;Forge: Dollars and Sense&quot; 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