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With a global supply chain and disruptive events like a worldwide pandemic in the mix, it’s become clear that technology itself must advance. Organizations and supply chains were put under extreme duress by COVID-19, and it illustrated that future-proofing is needed across the world’s supply chain.
The past year has been a rollercoaster. The disruption that the pandemic has brought strategic sourcing has forced organizations to pivot and readjust. Procurement has been under immense pressure to evolve past these supply chain difficulties just for survival.
It doesn’t matter whether a company manufactures cars, frozen meals, or clothing, its supply chain is critical to success. To be profitable, a company must effectively manage its supply chain. Over the years, the supply chain has evolved in many ways. The most recent development—and the one that may just have the most profound impact of all—is the rise of the intelligent digital supply chain and predictive sourcing.
Voltaire once wrote, “Appreciation is a wonderful thing. It makes what is excellent in others belong to us as well.” This key truth—the importance of appreciation and recognition—is the core foundation of the Opti Awards, which we recently announced for this season.
Our team is still basking in the glow of Optimal: The Leadership Summit for Predictive Procurement and wanted to share a guide to the resources of our speakers, customers and thought leaders. We knew beforehand that there was a significant demand for the kind of information we were going to share, but the level of engagement we saw leading up to, during and after the conference was truly notable.
This is the tale of two trends and how they are becoming inseparable: procurement and SaaS (Software as a Service). What is the relationship between a long-established business role and the hottest trend in cloud computing? For a start, both are increasingly seen as a key to a company’s success.
The countdown is on to Optimal 2021. This is the AI conference for procurement teams, where procurement meets AI to drive innovation and digital transformation.
Sourcing and procurement are critical functions in business. They’ve always been one of the keys to success—simply put, without sourcing, there are no raw materials to make a product. Furthermore, procurement teams typically cost less than one percent of an organization’s total budget, and bring double the savings.