Procurement teams must make faster, better decisions to keep their supply chains viable. Consumer expectations, health regulations, and environmental factors present leaders with growing uncertainty—and with it, risks. In fact, over 70% of chief procurement officers believe that risk has increased somewhat or significantly over the last 12 months1.
While it’s clear that supplier risk management is a priority, supplier management is only effective with tangible and actionable insights to inform decision-making. Procurement is rich with data. The ability to extract and derive insights from procurement data can be especially powerful when managing supplier risks, reducing costs, and fulfilling supply demands. Thus, the majority (80%) of organizations are digitizing their supply chain processes and over half report spend and cost analytics as the key area in which they are deploying technology2. Moreover, 82% of organizations have put artificial learning technologies in place, or will in the next year2. How can organizations quickly embed, scale, and realize the benefits of real-time analytics while reducing the implementation lift and adoption barriers?
For organizations of any size and type, investments in intelligent analytics can be as simple as getting started with Amazon Business. Built-in solutions and features on Amazon Business empower procurement teams with advanced analytics, machine learning capabilities, and innovative tools to more easily discover purchasing insights, promote buying policies, and optimize cash flow all in one place.
1 Deloitte 2021 Global Chief Procurement Officer Survey.
2 2019 Gartner Supply Chain Technology User Wants and Needs Survey.
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