Ask HN: How does your team manage dependencies?

In all the years I've worked on software for various startups I've never come across a sustainable process for managing dependencies. As software ecosystems become more complex and we find ourselves dependent on dozens or hundreds of packages to ship our work, how are we meant to keep these up to date over time?

I would be very curious to learn from others who have developed solid practices within their teams to keep dependencies up to date. How do you fit this in the schedule? How often are you updating dependencies? How do you manage big breaking upgrades in critical dependencies?