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Speed, Collaboration and Innovation – Key Words for the New Procurement Decade

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Or the automotive firms, who watched Tesla with the condescending view that electric cars would just be a fad, until they also realised the true potential. The need for organisations to move quickly to protect and grow their business is not new, but through the last decade, the risks for those who don’t have grown. .

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The Top CPO Metrics Used to Measure Inflation, Risk, and Uncertainty

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For example, consider the challenges in the automotive industry that stem from the supply chain issue in chip manufacturing. Savings Leakage: This new metric tracks the gap between identified and realized savings, and results from things like poor contract management and flawed supplier onboarding.

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Establishing Procurement as a Competitive Advantage

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Global automotive component supplier Meritor is a great example. Best practices are great for the majority of processes, but for the most strategic doing things differently is the way to win. This is where helping organizations innovate, ensuring business agility and even growing revenue comes into play.