The COVID-19 pandemic has resulted in massive disruptions in both demand and supply across industries and geographies, forcing companies to reset their business models. Procurement executives are having to rethink their existing strategies for the new normal, with the focus shifting from cheaper, faster, better to agility, reliability, visibility, responsiveness and risk. Companies will need to look at alternatives for supply sources, procurement models and cash flow models while ensuring visibility in multi-tier supply chains. To do this quickly, companies will need rapid digitalization.
By tapping into SAP’s global network, companies can identify and access suppliers as well as plan for potential disruptions early on, while ensuring that we make a positive impact on the societies we live in.
Companies will need to reimagine procurement as emerging technology, changing workforce demographics and evolving business network ecosystems redefine how goods and services are sourced, purchased, and tracked.
Procurement with a Purpose
As a business, you can be a force for good and can make a huge difference, not just for your customers, but also for others connected to the supply chain – directly or indirectly.
Enabling Business Ecosystems
The pandemic has left the business world in disarray, but there are still significant growth opportunities to enable commercial ecosystems thrive in The New Normal.