From pivoting to entirely remote operations to shoring up disrupted supply chains and taking a leading role in business continuity planning, the past year has seen strategic sourcing grappling with uncertainty from all angles. To combat this uncertainty, smart organizations have turned to their sourcing and procurement organizations for guidance on navigating unique challenges and protecting their futures.
Strategic sourcing leaders across all industries have taken these challenges in stride, leveraging technology to stay connected and ensure the business continues to run smoothly despite disruptions. It’s clear that lengthy, manual procurement processes will no longer make the grade amid the rapidly shifting business landscape. As enterprises begin planning for the pivot back to in-office operations, approximately 45% of executives are fast-tracking procurement automation and transformation. By equipping the procurement organization with the necessary tools, businesses can empower their sourcing teams to support key business initiatives like risk management, strategic cost savings, and supplier relationship management.
Technology-enabled sourcing teams are more effective at navigating change and are better equipped to deal with whatever the future brings. Let’s explore the three major advantages of smarter sourcing.
Tighter Alignment With Executives and Stakeholders
With organizations and business leaders spread across