Management and Scorecarding
There’s a problem plaguing virtually every procurement department in the world. The number of suppliers per organization has been steadily increasing at a rapid rate and the information associated with those suppliers has been rising even faster. The consequence of this data explosion? Deloitte reports that 50% of CPOs have little to no visibility into their Tier 1 suppliers, a number that rises to 90% for Tier 2 suppliers. If this number sounds scary, it should be; external purchasing is the leading cost for most organizations.