In today's tumultuous business landscape, where price volatility, geopolitical tensions, and sustainability imperatives converge, one function stands at the forefront of navigating these complexities: procurement. In this context, the procurement function will act as a strategic lever for value protection and creation. Procurement sits at the confluence of huge quantities of data, flowing from within the organization (for example, spend, demand patterns, specifications) and from without (suppliers, market insights databases, and the wider web). Today's digitized, connected organizations must tap into this data and develop new tools to make faster, better sourcing decisions. Mastering the data will empower procurement teams to achieve strategic objectives that go far beyond traditional cost, quality, and delivery metrics. Better data can support activities and decisions across the sourcing life cycle, from the development of category strategies and the assessment of potential...
learn more
