What procurement needs to prioritize to deliver strategic value

Every procurement leader wants to be a strategic partner to their business. But few know exactly what they need to focus on to achieve it.

This research-rich executive guide explains the approaches you need to adopt to make your intentions reality:

• Collaborate across the enterprise, then co-innovate with suppliers to solve your colleagues’ challenges: 70% of executives agree that procurement’s insights are essential to an organization’s strategy.
• Partner closely with your COO and CHRO to implement a flexible, total workforce sourcing strategy: 31% of procurement leaders say external workforce management is a top driver for digital transformation.
• Implement AI, automation, and spend analytics to digitalize routine processes and reduce cycle times: Improving the user experience is the number one area in which executives plan to use emerging technologies such as AI.
• Transform Category Management from a disconnected, inconsistent practice into a more strategic function with digital and AI capabilities: 27% of executives view investing in digital transformation of category management as a priority.
• Combat supply chain instability by embedding risk intelligence throughout the source-to-pay decision process for suppliers, contracts, purchases or invoicing: Nearly 30% of executives say supply chain visibility is procurement’s top organizational risk priority.
• Build strong supplier relationships to help accelerate innovation and improve sustainability: Only 65% of executives have confidence in procurement regarding long-term supplier relationship management.

The guide also includes practical suggestions for implementing SAP solutions that will empower the procurement function to deliver your organization’s strategic objectives.

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