2021 is bringing unimaginable change to the world. No one can deny the impact this year has on sourcing and supply chain management, but what will 2022 hold for sourcing teams? Is there any light at the end of the tunnel?
The answer depends on how much we’ve learned over the past year. COVID-19 pandemic fundamentally changed where and how we work, and will likely shape sourcing and purchasing for years to come.
In response, companies are digitizing their sourcing and purchasing in order to operate in new and faster ways, pivoting their processes and business models to compete or even survive.
Challenges in Managing Strategic Sourcing Within the Enterprise
Companies with global and complex supply chains are increasingly concerned about the threat that potential supply chain disruptions pose to revenues and profits. Emerging markets, globalization, and the quest for cost savings are but some of the multitude of drivers behind what many companies now face: lean, long, yet brittle supply chains.
The struggle seems real when these companies collaborate with suppliers on one hand and then internally with the stakeholders.There is an unreasonable waste of time – in collecting and consolidating feedback from all stakeholders and finally coming out with the top two or three suppliers. It is a nightmare – especially if the sourcing team is just using Outlook, Word and Excel?
Few common challenges faced by the sourcing team are mentioned below with their resulting trade-offs:
How to build a Resilient Supply Chain?
Although disruptions are inevitable, the sourcing team is often not prepared to respond. Organizations that can quickly identify, diagnose, and resolve these issues will be in the best position to weather the storm
Businesses need a modern solution that can support their digital transformation journey that
- Connects the enterprise with digital workflows across enterprise-wide use cases
- Delivers great user experiences across modalities to unleash productivity
- Has built-in machine learning and AI
- Integrates easily with the existing IT ecosystem
- Provides a platform for building new apps that fuel innovation
Aavenir from the onset has been uniquely differentiated in the marketplace to help business become a modern enterprise ready for the challenging times ahead. Aavenir RFPflow is attempting to address precisely those issues. The RFPflow product has 4 stages: Prepare, Publish, Collaborate and Evaluate. For understanding these stages in detail and knowing how effective RFP solution is to solve the procurement challenges to deliver immediate ROI, please refer https://aavenir.com/centralize-and-standardize-rfp-management-to-accelerate-supplier-qualification/
Aavenir is uniquely qualified to help you be:
- Hyper-Fast: through rapid, proactive, automated
- Agile: by being flexible, responsive, leading change
- Resilient: meaning your durable, consistent, secure
- Human: empathetic, experience centered, real
- Connected: friction-free, breaking down silos, agnostic and open, end to end, anytime, anywhere
In a highly competitive global marketplace, in which there are greater demands of an organization’s sourcing department to deliver value, Aavenir’s RFPflow solution will streamline the Procure-to-Pay process. The result will be greater sourcing efficiency and more time for sourcing professionals to focus on the complexities of more strategic acquisitions.
On Demand Session
Automate Sourcing Using RFx on ServiceNow