For years, one of the most important KPI's within Procurement has been to cut down on number of suppliers. But as disruptions caused by concentrated supply chains have shown to devastate and destabilize economies, companies now find themselves having to address a new risk reality that includes concentration risks.
Thus, any contingency and disruption management will require companies to reimagine the architecture of the ideal supply chain. And any overhaul needed, is very much a big data problem that will require big data solutions!
This is only one of the reasons why all encompassing S2P solutions are no longer cutting it. An open Platform approach – utilizing rich robust data from multitudes of sources and solutions – is the only viable path; allowing Procurement and Supply Chain professionals to finally reap the benefits of the ML/AI value prop.
- Malin Schmidt, Founder & CEO of Kodiak Hub