Procurement’s role in supplier selection encompasses more than simple cost-management. Risk management, quality assurance, innovation, and strategic development are all important aspects of the function that come from supplier diversity initiatives. Collectively, these elements can have a significant impact on the rest of the organization. The tools and technologies Procurement uses to manage their suppliers are taking on greater importance than ever. Not only do they impact the strategic success of Procurement as a function, but they also have an impact on other departments, including Finance and the back office. In this edition of ProcureCon and WBR Insights’ CPO Study, we’ll explore how much success Procurement leaders have experienced with the tools and strategies they have currently deployed for supplier management. We’ll also learn which aspects of the business these leaders would like to improve, what barriers are preventing them from reaching their goals, and what they foresee in the future for their sourcing speed initiatives.
Contributors: GEPCategories: Whitepaper
SRC Type: Sourcing, Trends