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5 Steps Towards Modernizing Supplier Management

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The Forrester study identified consistent obstacles, as well as clear strategies to successfully manage suppliers to achieve a range of strategic objectives and is well worth a read. Below, we outline the 5 steps toward modernizing supplier management, addressing both transparency and effective engagement.

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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. Achieving these goals requires maintaining complete visibility across your suppliers (into tier 2 and 3), and setting up processes for effective and efficient collaboration and transparency across the supply chain.