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Procurement Technology: Enterprise Solutions Driving Efficiency and ROI

ivalua

Key Takeaways Procurement technology is evolving from basic digitization to a strategic enabler, helping enterprises automate processes, reduce risk, and improve supplier collaboration. AI, automation, and generative tools are redefining efficiency, allowing procurement teams to move from reactive to proactive decision-making.

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Navigating trade turbulence: What tariffs are really exposing in Procurement

Spend Matters

The US administrations announcement of reciprocal tariffs in early April sent a jolt through global supply chains. For many Chief Procurement Officers (CPOs), the real message was clear: Volatility is back, and this time, it demands faster, more coordinated and more data-driven responses.

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Strategic Procurement: 4 Tactics for Economic Recovery in 2021

ivalua

According to Accenture, 94% of Fortune 1000 companies saw supply chain disruptions and 75% had negative or strongly negative impacts on their businesses due to the pandemic. As a result of the disruption, cost management and supply chain visibility were suddenly top of mind for executive leadership teams. .

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The Dirty Little Secrets in Procurement!

Supply Chain Game Changer

Lack of Visibility Beyond Tier 1. According to the 2021 Deloitte Chief Procurement Officer Survey, “Around 70% of CPOs felt that they had good visibility on the risks that existed in their direct (tier 1) suppliers. Yet only 26% were able to confidently predict risk within their supply bases.

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The Reality of Automation in Procurement!

Supply Chain Game Changer

According to a recent Deloitte CPO survey , Chief Procurement Officers (CPOs) mentioned that their main concerns are efficiency, costs, and digital transformation. Automation of procurement processes, along with a seamless integration of the other systems such as ERP, WMS, and TMS, will ensure enhanced supply chain visibility.

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Predictive Procurement: Overcoming Challenges in Health and Pharma

Arkestro

To address supplier challenges, you must ensure your preferred providers can meet your changing needs and that you have a diverse supply base. Supply Chain Visibility. Supply chain visibility is another critical issue. Predictive Procurement Supports Supply Chain Resilience and Visibility.