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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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Predictive Procurement: Overcoming Challenges in Health and Pharma

Arkestro

It’s vital that supplies are predictable, so you can get the products and services you need. 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.

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How is technology transforming global sourcing ?

Claritum

Do you have visibility of a global supply chain? If your organisation struggles with supply chain visibility you are not alone, according to Deloitte’s survey of Chief Procurement Officers, 65% of CPO’s have limited or no visibility beyond their Tier 1 suppliers.

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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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If you can measure it then you can manage it

Claritum

If you can measure it then you can manage it” This statement is so true in the procurement field. True supply chain visibility means delivering real time information to upstream customers and downstream suppliers. This is just that, a one off, and will not provide a long term management solution.

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Procurement and Sustainability are Your Yin and Yang!

Supply Chain Game Changer

Chief Procurement Officers’ priorities seem to be changing with the times in order to further implement initiatives necessary to meet broader organizational goals. CPOs “gave supply chain sustainability a ranking of 7.2 in 2020, according to Procurement Leaders’ CPO Planning Guide 2021” (Procurement Leaders 2021).

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Three Ways Procurement Can Drive Sustainability Through the Supply Chain

SupplyShift

Right now, companies aren’t doing enough to gain visibility into their supply chains. According to Deloitte’s 2020 Chief Procurement Officer Survey , only 50% of organizations had high visibility into their tier one suppliers, and a staggering 90% reported low or very low visibility beyond tier one.