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Insights from CPO Rising 2019: #ValueExpansion
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Strategic sourcing: A disciplined approach to supply market analysis that continuously improves and re-evaluates the purchasing activities of an organization. Strategic sourcing provides the best possible values in the marketplace to produce sustainable savings and reduce cycle times. Sourcing optimization starts from a diverse strategic perspective and usually takes the form of strategic decisions. It is important to identify untapped opportunities to improve vendor access and increase the value of each dollar spent. Drive benefits...
In Gartner’s recent annual report, they discuss their predictions as to what will have a great impact on procurement and sourcing technology in the coming year and how the market will change over time. One thing that is definitely clear – the procurement and sourcing market is evolving quickly as technology continues to advance. The summary of the report suggests that CPOs, IT leaders, and procurement organizations need to “plan for the impact of virtual...
1. New: Buyer Assistant Applies to Configurability Spot Buy workflow Buyer experience if Buyer Assistant is Licensed and Enabled N/A: Changes experience and UI if Buyer Assistant is enabled Buyer Assistant can be selectively enabled by Location The Buyer Assistant module provides an intelligent, learning-driven capability to automatically drive Spot Buy execution by generating supplier inclusion and award decision recommendations. A demonstration is recommended to understand Buyer Assistant capability and operation Buyer Assistant can operate...