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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 category management and strategicsourcing.
Advanced analytics tools are being integrated into procurement operations, enabling public and private organisations to rethink procurement processes, supplier relationships and cost optimisation. contract compliance, procurement cycle efficiency).
Disruptions in global supply chains, labor market shortages, strong consumer demand. How can we mitigate technical, logistical, weather-related, and demand-driven supply chain disruptions? Organizations must shift focus toward strengthening their procurement processes and procedures to gain 100% supply chain visibility.
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Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. About 60 Procurement Managers, Directors, and Executives attended from top medical device manufacturing companies.
I see the same from some suppliers – for example those price gouging on ICU ventilators given the spike in demand. That is how Procurement establishes a company as customer of choice, which will minimize your risk of supply disruption the next time demand outstrips supply, as is a common scenario for many items today.
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