![]() ![]() It will be riddled with duplicates, gaps, errors, and inconsistencies. Viewed as a whole, the supplier’s data is unreliable. So, the way in which each supplier works with the business, results in their data being stored in an average of eight databases. Another is that behind each password, many of these solutions produce and then store data from suppliers using it. The time loss to these, often smaller, businesses is a concern. According to recent research, if a supplier wants to serve a single customer, they must navigate around eight different tools, each with a unique login. The digital environment which plagues procurement teams must also be navigated by suppliers. So, how does this stack up, and what can business leaders do about it? The impact of this digital struggle extends even further to the greater business. Today, swapping between these old and new tools is a slow and painful experience for procurement – and all their suppliers. Integrating them with established P2P and S2P suites, used to manage sourcing and supplier relationships, emerged as a challenge. ‘Point’ solutions, software dedicated to tackling individual use cases, were implemented. The function’s leaders, Chief Procurement Officers (CPOs), now had new mandates to meet and quickly sought to apply technology. So, management turned to the next best option: procurement. When it came time to delegate, leaders assessed whether a single department with a clear responsibility across all suppliers for all these areas existed. To manage it, leaders had to ensure compliance and readiness across multiple areas were captured, analyzed, and reported. ![]() In recent years, ESG was hoisted to the top of the board agenda. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |