Inadequate transparency between procurement and suppliers: a business risk
A new study from Harvard Business Review reveals that 60% of business executives consider insufficient transparency between their procurement and finance functions and their suppliers to be a significant risk to their business. The survey of 779 executives...
SAP partners Uber Freight to improve digital supply chain
SAP Logistics Business Network has forged a new partnership with Uber Freight with the aim to optimise freight transportation processes. It is anticipated that this partnership will enable more business intelligence and automation in the digital supply chain. ...
Tail spend management in procurement: things you should know
When it comes to procurement, most organisations follow the 80/20 rule, where the highest spend categories comprise 80% of the procurement cost, with 20% dedicated to tail spend. As a result, most organisations focus on optimising the 80% spend and ignore tail spend....
Digital platforms deliver unprecedented cost reductions for procurement teams
With Deloitte CPO surveys showing that cost reduction leapt as their main priority from 69% in 2014 to 78% in 2018, procurement teams are turning to new strategic sourcing platforms to achieve impressive enterprise savings. This is according to the online...
Study finds companies over-estimate their level of procurement transformation
A new study, 'Executing a Successful Procurement Transformation'by US market research firm, Forrester Consulting, has found that most companies are over-estimating the maturity of their digital procurement transformation implementation. The research used a...
Understanding the importance of risk management in procurement
Risk management is part and parcel of procurement because organisations depend on suppliers for products or services. Since supply is through a third-party, procurement needs to be prepared for any disruption to the supply chain, as it could affect the organisation’s...
