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This is because organizations continue to face challenges when it comes to harnessing technology in procurement, with existing systems not being fit for purpose (36%), poor data quality reducing trust in information (36%) and staff having inaccurate expectations of what technology can do (34%).
Leading, high-performing procurement organizations share one common trait–they consistently prioritize a holistic and integrated approach to Supplier Management. In fact, they go beyond simply supplier management, what they do is Supplier Engagement. Accurate and quality supplier master data. Keep all other systems in sync .
This is because organisations continue to face challenges when it comes to harnessing technology in procurement, with existing systems not being fit for purpose (36%), poor data quality reducing trust in information (36%) and staff having inaccurate expectations of what technology can do (34%). .
These scenarios often involve a need for expertise, standardization, quality, compatibility, and exclusive availability of products or services. However, a sole source justification based solely on quality, preference, or standard price comparisons is invalid. There are several common scenarios where it is vital.
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