LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest articles on the trends impacting procurement and supply chain management companies and strategies to manage them.
In the current competitive scenario, its customers who tell suppliers how and when they want their inventory to be delivered. This results in inefficiencies, excess costs, and inventories for companies. This article will help you explore the challenges faced by companies while navigating global markets. It will provide key insights into factors such as compliance, rapidly evolving markets, globalization, and supplier management impacting the efficiency of procurement and supply chain management process.
“Improving the procurement supply chain management process is crucial for companies to optimize the processes of acquiring inputs from suppliers, converting them into finished products, delivering those outputs to customers,” says Parikshit Ghosal, Vice-President at SpendEdge.
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Responding to changes is the key to gain success in today’s business environment. Companies not just need to react faster than competitors, but also need to prepare better and execute faster. Procurement and supply chain management is a complex process and requires companies to devise strategies that can manage a supply base and meet consumers’ needs. The article will help you gain knowledge about the key procurement supply chain management steps and framework. The article will show how companies can ramp up products quickly and launch ahead of their competitors by analyzing different market conditions.
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Companies strive hard to keep up with increasing customer expectations and ensure their presence in the market. New technologies such as AI, machine learning and blockchain disrupt the procurement and supply chain management process, thereby impacting operational efficiency. This article will help you understand how such technologies can be applied to create more value for customers. Also, it will provide key insights into inventory positioning, dropshipping, reverse logistics, and gender diversity at the portfolio level in North America.