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Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform GlobalSourcing”. Challenges in this new manufacturer/supplier partnership Burton cites include: Riskmanagement. Sustainability. Globalization.
Such solutions, especially if embedded in spend management suites, can help unify data across the enterprise and fix duplicates and other issues at the source. The permanent transparency helped drive a rationalization of its supply base to improve performance, relationships and deliver savings and lower risk.
As the lynchpin to suppliers, they play a pivotal role in combatting the effects of inflation, ensuring supply continuity, complying with regulatory requirements, improving sustainability and other top business priorities. The biggest gains in sustainability typically come from working with suppliers rather than finding new ones.
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