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The maturity of a procurement program can in many ways be determined by the maturity of the analytics used to observe and control spending. Organizations that have taken an aggressive stance towards the development of these capabilities often have AI-based tools in place that simplify the generation of analytics and provide decision-makers with practical insights. This type of advanced procurement workflow allows team members to refocus their attention from tactical work to strategy.
For category managers, these systems are likely either already in place or on their way to being implemented. Now, procurement leaders have an opportunity to determine if their current operating models contribute enough value to the business. Given recent disruptions, they must also determine if they have the right talent, knowledge, capabilities, and technologies in place to support the organization’s strategic initiatives.
This report analyzes how advanced procurement ecosystems are supporting the function’s objectives in terms of talent, strategy, and technology. It also examines how confident procurement leaders feel about their current digital sourcing capabilities.
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