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In today’s competitive business landscape, consumersdemand a continuous cycle of new products and services, and the gap between each launch is shrinking. Procurement is essential for organisations looking to build relationships. Procurement must refocus to foster, rather than block innovation.
Last week, Ivalua partnered with Ardent Partners to discuss Procurement 2022: Big Trends and Predictions. . Procurement 2022: Big Trends and Predictions. #1. Enterprises will continue to undergo the financial burden of revenue disruptions, consumer , and uncontrolled supply chain variables. . View Webinar Replay.
In a recent webinar, “ How to Leverage S2P Platforms to Enable Supply Chain Resilience ,” procurement experts from Forrester, Ivalua and Procurement Leaders discussed how digital transformation and the technologies that enable it can help companies mitigate risk and be more agile and resilient.
Over half of the heads of procurement in our survey (53%) are currently confident in the resiliency of their supply chains, while 20% of the respondents are somewhat confident. Procurement leaders are under increased pressure to improve supply chain resilience. Future-proofing Procurement Against Supply and Demand Shocks.
A Procurement Officer Survey conducted in 2012 by the IBM Institute for Business Value found that 53% of respondents believed their organization was “effective” or “very effective” at leveraging Supplier Relationship Management and Supplier Risk Management technologies. Most Procurement organizations are not yet advanced.
However, entering international markets requires the understanding of different regulations and adapting to other procurement processes. Businesses can find opportunities and effectively tailor their bids by examining market trends, competitor actions, and consumerdemands.
Further, higher labor costs also support higher consumerdemand. Consequently, higher labor costs can also create inflationary pressure at the consumer level. Nash previously addressed excessive deficit spending, calling it “an issue that should be of concern to all folks that work in the procurement arena.”
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