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Vishal Patel and Peter Hunt delivered their session ‘Creating Value with StrategicSourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to categorymanagement and strategicsourcing.
A purpose-built solution can enforce proper governance and standards, automate master data optimization activities, identify product standardization opportunities, and automate categorymanagement for strategicsourcing in supply chain. Demand planning capabilities. Point-of-use data capture.
Some lessons regarding managing supply chain risk may still help in the near term as companies struggle to reconfigure their supply base to an evolving pandemic. First, categorymanagers should look to investment professionals and take a broad portfolio view of supplier risk management.
While there are many similarities, the nuances of public legislation and free trade requirements create a procurement environment that is more regulated, demands a greater level of transparency, and requires vigilance to stay on top of the constantly changing landscape.
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