Decoding the Third Wave in Supply Chain Management: SpendEdge’s Free Resource on How Procurement Functions Are Changing Globally

Top supply chain management trends that can impact businesses. (Graphic: Business Wire)

LONDON--()--SpendEdge, a leading provider of procurement and supply chain management solutions, has announced the release of their new free resource on the third wave in supply chain management. This downloadable article explores the impact of business and technological developments on supply chain functions and identifies some of the top trends that companies need to address to be successful.

Many times, businesses fail to realize that supply chain management offers several obscured opportunities for long term cash flows and cost savings. Companies employing efficient end to end supply chain processes and best in class technologies possess the capabilities to free up their working capital and position themselves better in the long run. However, they require new and advanced procurement strategies that can support the design and development of a sustainable supply chain. This increases the pressure on supply chain managers to improve transparency by utilizing cognitive technologies. It also compels businesses to adopt emerging technologies, anticipate change resistors, and create predictive business models that can facilitate them to stay relevant in the dynamic global environment.

Are you finding it challenging to predict the key supply chain management trends that are going to play an important role in the growth of businesses? Get in touch with our experts and know how our procurement experts can guide you.

Top supply chain management trends that can impact businesses

  • Customer centricity

Unlike previous revolutions in supply chain management, customer centricity is becoming invariably important in the third wave of supply chain management. Companies need to align their strategies that can address the rapidly evolving customer demands and expectations. They also need to ensure the timely delivery of expected products with effective pricing.

  • Evolution of data science

Predictive analytics and big data form an integral part of supply chain management. With the utilization of data science in predictive analytics and big data, companies can obtain accurate, reliable, and cost-effective results. However, with the substantial growth of data volumes, companies are compelled to process the structured and unstructured data sets to gain a competitive advantage. Not only this, companies are required to leverage data science competency, predictive analytics, prescriptive analytics, and machine learning techniques for better growth.

About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. Request free proposal to know more, https://www.spendedge.com/request-free-proposal

Contacts

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us

Release Summary

SpendEdge has announced the release of their new free resource on the third wave in supply chain management.

Contacts

SpendEdge
Anirban Choudhury
Marketing Manager
US: +1 630 984 7340
UK: +44 148 459 9299
https://www.spendedge.com/contact-us