Source : CIPS

By now , the supply chain and procurement sectors are no stranger to complex environments and disruptive events .

In a recent report by The Hackett Group and Ivalua , the two outlined five critical areas of development for the function warning : “ If procurement cannot overcome challenges in these areas , it may be difficult to address critical priorities like supply risk objectives .”

The five critical areas included :

1 . Enabling corporate sustainability to meet the growing demands and expectations from all stakeholders .

2 . Accelerating digital transformation to navigate constrained budgets and continue to deliver new services .

3 . Improving analytical and reporting capabilities due to the correlation between a data and insights driven organisation and success .

4 . Aligning skills and talent with changing business needs , with a focus on retention following ‘ the great resignation ’.

5 . Improving procurement agility to ensure that an organisation is well equipped to anticipate , predict and rapidly react to shifts in the markets .

� YOKOY Switzerland-based startup Yokoy , has raised US $ 80mn to help its customers better manage their corporate spend with AI and API integrations . To date , the company has raised US $ 107mn . Its latest funds will be used to drive its international expansion , product development and expand its headcount .

� SHIPSTA Based in Luxemburg , pioneering digital platform provider SHIPSTA has raised US $ 9.8mn in funding . Led by Dubaibased Tricap Investments , the latest funding will be used to further its fast growth and accelerate its global reach .

� COUPA SOFTWARE Following Coupa Software ’ s announcement of its January quarterly earnings report and management guidance for the fiscal year , the company ’ s shares have dropped by 25 %.

� MCDONALD ’ S Leading fast food chain McDonald ’ s has been hit with supply issues , rationing its tomatoes after supply chain issues resulted in a shortage of fruit .

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