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In this way, they can be ready to face a crisis like Covid-19 or various other potential challenges — extreme weather caused by climate change, consumer demand for sustainable and ethically produced goods, trade wars or political tensions, to name a few. . Balancing New Priorities Makes Procurement More Valuable.
Such broad priorities require new supplier strategies, new information and a delicate balancing act between competing objectives. Automotive parts leader Meritor presents a great example, having digitized the full supplier and product lifecycle to improve collaboration and accelerate the launch of new products.
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