Over the last decade, businesses have evolved rapidly due to globalization, growing diversity, and increased competition. Trends such as an increase in mergers and acquisitions (M&A) and divestiture have spurred technological advancements and new strategic approaches to business negotiations. In response to these changes, supplier networks have grown in both scale and complexity. As buyer AP and Procurement teams try to keep up with growing supplier bases, they are tasked with supporting profitability while simultaneously maintaining positive relationships with suppliers. The fractured nature of their work often curbs these teams’ ability to minimize internal costs and cultivate fruitful partnerships. On the other hand, suppliers are also losing time and money while settling promotional sales, discounts, and deduction disputes.
Research Senior Manager
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Major Bottoms Jr.
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