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Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to categorymanagement and strategic sourcing. The answer is simple – automation.
Also, an eprocurement solution provides you with clean spend data, which is the basis for a sound spend analysis and eventually relevant categorymanagement. Now, you need to build your business case to get that budget from Finance. Selecting the right Procure to Pay software will preserve you from failed deployments.
Challenges in this new manufacturer/supplier partnership Burton cites include: Risk management. This means categorymanagers must work with suppliers much differently and evaluate them based on a wider array of factors. Most companies we see today have their finance departments bogged down with spreadsheets.
As financing and cash flow is uncertain, cash is once again king and Procurement and AP leaders are being asked to forecast and preserve cash wherever possible. And to maximize the impact of these and other objectives, Procurement needs to be managing all spend and all suppliers. But not more than other objectives.
Our government guests for the meeting are: Clarence Harrison Jr, Senior Advisor, IT Vendor Management Office, ITC, FAS Warren Blankenship, Deputy IT Government-wide CategoryManager, Government-wide IT CategoryManagement, ITC, FAS Angela Washington, Office of Business Centers, Minority Business Development Agency (MBDA), U.S.
The Federal Acquisition Service’s IT CategoryManagement Office will also develop a generative AI acquisition resource guide. The report sampled 100 Federal and 100 private sector “cybersecurity decision-makers” representing IT, Finance, Healthcare, Manufacturing, and other industries.
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