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20152020: Procurement Gains Strategic Recognition Emergence of Strategic Sourcing : CFOs began to recognize procurement’s role in driving long-term value through strategic sourcing, supplier relationships, and riskmanagement. Analytics and insights from procurement data were minimal.
This initiative comes at a crucial time when global disruptions have underscored the importance of robust supplychains. By leveraging Dun & Bradstreet’s expertise, companies can proactively identify vulnerabilities, optimize their supplier networks, and strengthen overall supplychainresilience.
4] Automated Supplier Management is the New Standard: From onboarding to performance monitoring, automation tools are improving accuracy, compliance, and vendorrelationships while easing the administrative burden. [5] 9] Risk mitigation is another driver.
This not only saves time but also ensures accuracy in vendor classification critical for risk profiling and meeting procurement regulations. SAP Ariba offers advanced supplier riskmanagement features, integrating due diligence into a broader procurement ecosystem.
However that’s only part of the puzzle – strong vendorrelationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.
However that’s only part of the puzzle – strong vendorrelationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.
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