Elevate Every Decision with Intelligent Procurement

Elevate Every Decision with Intelligent Procurement

Posted Oct 13, 2021 from

Although procurement touches every part of the business every day, it is often undervalued. Supplies are sourced. Purchases are made. Invoices are paid. It all happens without attracting much attention. But in recent years, businesses have started to see procurement as a strategic partner with a unique ability to influence a wide range of value levers. The pandemic sped up this shift, raising the stakes for Chief Procurement Officers (CPOs) and influencing how procurement organizations could operate in the future.

Flash back to the start of the pandemic. Manufacturers were shut down. Supply chains were disrupted. Business continuity hung in the balance. Procurement organizations supported the business as only they could, working with key suppliers to reduce negative impacts and find alternative supply sources when necessary. They also evaluated contracts to anticipate operational and reputational risks and assessed their effects on the business.

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