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If you’re exploring procurement technology, chances are you’re not just looking for a better tool – rather, you’re looking for a smarter, scalable strategy. AI, automation, and generative tools are redefining efficiency, allowing procurementteams to move from reactive to proactive decision-making.
Procurement plays a critical role in managing supplier relationships—not just by executing purchases, but by shaping the long-term value those relationships deliver. At the enterprise level, this means developing structured supplier management programs that go beyond transactional buying.
The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier riskmanagement are essential components to maintain stability during crises like these.
Modern procurement needs have far surpassed transaction management; procurement is now a critical component in driving strategic value across businesses and AI has become a key tool in procurementteams back pockets.
Symphony AI Symphony AI provides AI-driven enterprise supplychainmanagement, offering real-time insights and riskmanagement solutions. Provides end-to-end supplychainvisibility and real-time insights. Facilitates seamless communication between procurementteams and suppliers.
In fact, a survey conducted by the Economist Intelligence Unit (EIU) found that 96% of respondents from the Middle East region were reconfiguring their supplychains in October 2020 — much higher than the global average of 83%. What’s more, PwC found that the average investment in riskmanagement among MENA companies was $1.5
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?
In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. But building an agile, resilient supplychain doesn’t happen overnight; it requires forethought and planning. Why is visibility so important?
This shift elevates procurement from a reactive cost centre to a proactive driver of both cost optimization as well as sales enablement. Visibility and Transparency Heightened demands for supplychainvisibility propel investments in technologies that enhance transparency across procurement processes.
The COVID-19 crisis highlighted the need to better understand the end-to-end supplier network and the risks that exist beyond direct suppliers” (Deloitte 2021). Possibly less of a ‘secret’, and more so something we all seem to turn a blind eye to, but the majority of procurementteams lack visibility beyond their tier-1 suppliers.
is a leading AI-powered platform specializing in third-party riskmanagement, compliance, and supplier lifecycle automation. Leadership Founder & CEO: Jag Lamba, former McKinsey consultant, leads the company with a focus on operational agility, riskmanagement, and AI innovation. Everything about Certa.ai
A generic approach to training is not the solution to the increasing range of challenges facing procurementteams. This means that skills enhancement across wider roles is required for procurement professionals, with a focus on role-specific learning. This approach also helps with overall team development.
As the procurement landscape continues to evolve, Chief Procurement Officers (CPOs) in 2025 will face a wide range of challenges and concerns shaped by technological advancements, geopolitical shifts, sustainability demands, and more.
It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include riskmanagement, compliance management, and due diligence capabilities/functionality. SRM software can help keep your doorstep clean, and your brand value intact!
It provides a means to better monitor, spot, and address supplier-related risks. Many of today’s SRM software solutions include riskmanagement, compliance management, and due diligence capabilities/functionality. SRM software can help keep your doorstep clean, and your brand value intact!
Their solution is made up of five modules: Payables Supplier management Analytics (spend, contract, and supplier intelligence) e-Sourcing Contract management Key Data: Founder / CEO: Vijay Caveripakkam Date Founded: 2019 Visit Raindrop profile in our Software Finder 4. The platform also offers supply and riskmanagement insights.
During the pandemic, healthcare needed to treat people with COVID-19, and the pharmaceutical industry had to increase the production and distribution of medical supplies and vaccines. What Are the Biggest Procurement Challenges in Health and Pharma? SupplyChainVisibility. Avoid supplychain delays.
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