DIGITAL PROCUREMENT
“ Paying close attention to your suppliers , in the same way as you do with customers , adds value and complements existing practices and systems ”
JACK MACFARLANE FOUNDER AND CEO , DEEPSTREAM
What ’ s in store for the future ? Digitalisation . With 40 % of businesses investing in software to tackle supply chain and procurement issues , technology is driving change in how competitive and efficient the supply chain is .
“ Managing vendors in a streamlined way means that more vendors can be engaged for transactions , meaning procurement teams get better terms and drive profitability for their respective businesses ,” says Macfarlane .
He concludes : “ We are moving away from a fairly static buyer-vendor relationship to a more fluid and dynamic relationship type .
Whilst COVID-19 drove an acceleration in digital adoption by many businesses , the relevance has increased even further with the recent supply chain disruptions we have seen in the market .
“ Our team was at the Intersolar conference in Munich recently , and the overwhelming sentiment from procurement teams was around how rapidly vendor availability was changing – the need for a transparent , open and dynamic way of engaging with alternative suppliers is being seen as something that can mean a business survives or has to cease procurement operations for lack of vendor visibility .”
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