P2P STRATEGIES
2Cloud and SaaS solutions can also assist with secure mobile access of P2P systems , anywhere anytime , and thus create a greater service level with stakeholders as well as integrating ERP with CRM and P2P for a holistic supplier perspective .”
“ One of the most prominent trends is AI and its analytical and predictive benefits to assist forecasting and budgeting and identifying cost reduction opportunities . Real time dashboard reporting on costs , supply chain audits , certification and compliance is now readily available as well as e-bidding and tender evaluation . A pull towards supplier collaboration and transparency is the result , helping businesses build strong contract management processes and innovation , whilst being proactive on risk management of key suppliers .
Cost optimisation and market differentiation can now be realised throughout the supply chain , via automated and streamlined end-to-end processes ,
THE IMPORTANCE OF COLLABORATION , COMMUNICATION AND AGILITY
“ Collaboration , communication , and agility are all essential . Effective collaboration between procurement teams and suppliers is critical for ensuring procurement processes are optimised . Clear and regular communication is also vital for keeping stakeholders in the loop with the latest updates / changes . And agility allows procurement teams to react quickly when there are fluctuations with business needs and market conditions ” - Mark Reddy , Director of Spend & Governance at Advanced
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