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Digital transformation’s effect on maverick spend
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It seems that these days, you can’t go anywhere without hearing about artificial intelligence (AI). It really is one of the hottest buzzwords right now. But as we looked at in the previous chapter of our tale, a lot of the buzz around artificial intelligence is nothing more than that: a whole lot of noise. Lots of tech companies claim their products have AI. However, most are only using it at the most basic level,...
1. New: Supplier Categorization Applies to Configurability Overall solution, Invisible to Supplier Requester, Buyer Associated reports Optional by Customer/Default: OFF Suppliers are Active/Valid or Inactive as before, if OFF A vital part of procurement is to channel spend towards strategic & key suppliers and to manage policy and compliance in accordance with supplier standing. With this enhancement suppliers can now be clustered into various (max 4 – see figure) customer-defined categories based on the level...
Due to the increasing influence technology has had on the way business is conducted worldwide, it has never been so important to leverage new processes and applications to set organisations apart from competitors, particularly in the supply chain space.