With a greater emphasis on controlling costs, maintaining margins, ensuring efficiency and managing risk, procurement teams operate in an increasingly complex environment. Often teams are expected to achieve value across larger portfolios, and with a greater diversity of suppliers and greater market uncertainty, it’s not always possible to replicate the level of research needed across all categories and products.
Chief procurement officers and executives want to drive efficiencies across the procurement function, and there’s an increasing focus on embedded best practice to ensure knowledge isn’t lost when team members change. For a team to be both efficient and effective, it’s important that all functions are aligned – that analysts, buyers and category managers are sharing market insights to positively influence supplier and customer negotiations.
It takes too long to collate the price data into the insight needed to understand a commodity market and prepare for supplier negotiations. The sources are so disparate and disorganised that
Find out how you can have stronger data-driven negotiations.