In the age of digital transformation, supplier management and procurement have been late bloomers. But organizations have learned in the past couple of years just how vulnerable global supply chains are to disruption, prompting renewed emphasis on digitizing supplier management and procurement processes. While reducing costs remains a top priority, procurement must be lighter on its feet and smarter in its strategy. New research from Harvard Business Review Analytic Services shows that organizations of all sizes are increasing investment in digital technologies to optimize their procurement processes. But how do they do it, and what benefits do they reap?
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