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The shift of procurement towards a more strategic function
Procurement departments have been improving their overall services in the past. However, there is still room for most of them to further add value to their operations, and in a lot of companies, boards are pushing for more efficiency from their side. Each procurement department has to tackle different issues as each industry faces its own challenges. Financial services, for example, face potentially tighter regulation issues, some logistic companies could leverage their use of supporting tools even more, and manufacturing companies can always improve their supply-risk management. All these challenges land on the Chief Procurement Officers’ desk, which substantiates them by being assigned a confirmed seat in the...
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