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With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurementteams to prioritise supplier innovation and revenue growth opportunities. . Procurement’s role and status have been on an upward trajectory for many years, accelerating during the Covid-19 crisis.
For example, consider the challenges in the automotive industry that stem from the supply chain issue in chip manufacturing. Unfortunately, many procurementteams lack the transparency and visibility across the supplier base to effectively track the metrics that matter, to assess and mitigate risk.
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