With a tremendous opportunity for improving free cash flow, strategic sourcing has become a top priority for many companies implementing digital transformations in their procurement function. Working capital is the lifeblood of any business holding physical inventory. As the number of SKUs increases, seasoned CFOs will react with dismay as overhead costs rise disproportionately to top-line revenue. These conditions are the instigators behind digital transformation in strategic sourcing, along with the usual suspects of reducing friction, removing bottlenecks, and clearly demonstrating the value of procurement’s bottom-line impact to the C-suite. 

Contributors: Bid Ops
Categories: Whitepaper
SRC Type: Sourcing, Trends