CPO Study 2021 - Digital Transformation Takes Center Stage
Procurement's role in supplier selection encompasses more than simple cost-management. Risk management, quality assurance, innovation, and strategic development are all important aspects of the function that come from supplier diversity initiatives. Collectively, these elements can have a significant impact on the rest of the organization. The tools and technologies Procurement uses to manage their suppliers are taking on greater importance than ever.
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Procurement's role in supplier selection encompasses more than simple cost-management. Risk management, quality assurance, innovation, and strategic development are all important aspects of the function that come from supplier diversity initiatives. Collectively, these elements can have a significant impact on the rest of the organization. The tools and technologies Procurement uses to manage their suppliers are taking on greater importance than ever.