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Can’t stop the bleeding? Ways to identify & prevent spend leakage in procurement
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Setting up systems to monitor supply risk management and supply chain visibility can preempt future performance issues that your organization may encounter. Predictive financial performance monitoring tools are often of value to companies monitoring the activities of their suppliers – indeed, recently one large global manufacturer was able to prepare for the impending bankruptcy of a major supplier due to their predictive analysis, indicating that the supplier was developing cash flow issues. Related: Supply risk...
You can’t go anywhere these days without hearing about AI. It’s all around us, from self-driving ride shares to Facebook using facial recognition to know which of your friends you just uploaded a picture of. But you might not know how AI is already impacting the procurement space. Think of all the things that frustrate you about your current indirect procurement process: disjointed and unstructured operations, multiple systems, and no visibility into your spend –...
Have you ever wanted to clone your best buyer – essentially having an assembly line that could replicate what makes that buyer amazing and being able to watch as your procurement process improves with best practices, tools, and streamlined processes in place? In this helpful infographic, you’ll see how your organization could benefit from implementing an AI-powered procurement and sourcing software to tackle procurement challenges and get immediate results. Check out the fun infographic to...