Successful sourcing and contracting is fundamental to procurement’s impact and ability to drive value towards and beyond cost savings. By taking a strategic approach to sourcing that aligns category strategies with overall business goals and objectives, procurement can create an agile, value-driven supply chain that minimizes risk and maximizes opportunity for the business.
Emerging technologies, such as AI-powered analytics and tools, automation, and e-sourcing solutions that identify the best suppliers for the business, enable next-gen sourcing and contracting. Contract management systems transform contracts from static business documents into valuable resources that fuel savings, innovation, and enhanced negotiations.
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