Supply Chain Transformation By introducing new operating models , adopting innovative technologies and adapting supply chain networks to maximise performance and reduce costs , companies learn how they can transform their supply chain by making systematic and strategic changes to structures , processes and systems . In turn , these changes result in significant developments in responsiveness and efficiency , allowing executives to meet evolving competitive pressures .
Procurement Technology There is a range of procurement technology available for organisations to improve how they handle their purchasing , supplier management and sourcing processes , such as supplier relationship management software and e-procurement solutions . Across the event , executives shared their knowledge on the benefits of this technology , including improving efficiency , gaining strategic decisionmaking capabilities , providing real-time data insights and end-to-end visibility .
Procurement Strategy By identifying supply sources , setting goals and creating processes to manage risk , negotiate and source , organisations can craft an effective procurement strategy that aligns with their business objectives . As a result of this , organisations can enhance their relationships with suppliers , maximise their cost savings and ensure the correct products are procured at the right quality , price and time .
86 October 2024