The consistent lack of essential materials and components, coupled with interruptions in the logistical flow of supply chains, has perpetually stood as one of the most significant hurdles in supply chain planning. These disruptions are inherently difficult to forecast, introducing a level of uncertainty that can render plans infeasible, subsequently casting adverse effects on numerous
Procurement is a critical component of supply chain management and is becoming increasingly important as businesses look to optimise their operations and stay competitive in today’s fast-paced world. However, while an important function, it can also be one of the most time-consuming and complex aspects of the business.
Procurement in 2023 is no longer just a tactical function focused on reducing costs but extends beyond. It is a strategic value-added profit centre that drives supply chain growth across the organisation. Therefore, to ensure a sustainable competitive advantage, businesses now need to overhaul old ways of working with faster, more intelligent and future-proofed solutions.
