Unlocking the Power of Predictive Procurement Orchestration for Financial Success
The role of the manufacturing CFO in any enterprise with multiple plant locations has never been more exciting or more challenging.
- Edmund Zagorin, Arkestro CSO & Founder
Content
Predictive Procurement Orchestration and You
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Leveraging Predictive Models for Optimal Returns, Quick Wins, and Lasting Profit Growth
Navigating the Shift from Traditional to Predictive Procurement
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Revolutionizing Industry Standards with Predictive Procurement
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Practical Predictive Procurement Orchestration Takeaways
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About Arkestro
This eBook was primarily written for the Chief Financial Officer (CFO) or Head of Finance role in the manufacturing industry, but can also be applicable to those in other industries who have a hand in the following situations:
Who is this eBook for?
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You are a person who delivers a firm “yes" or "no” to a budget owner, plant manager, or other business stakeholders
Without your help the above parties would never be able to operate successfully
You are keenly aware of your business’ working capital, cashflow, and the current status of key receivables and renewals
You have asked your staff to set an example: treat the company’s money like your own
You know the key ingredient to success is your procurement team, but you seek to avoid cost savings projects that enrage key suppliers and internal business stakeholders
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References
Chapter 1
Losing Your Most Valuable Asset: Your People
Take Back Control of Your Data
Is Digital Transformation Keeping You from Delivering Strategic Business Values?
How can Predictive Procurement Orchestration Help?
Let Us Show You What PPO Can Do
A big problem keeping most CFOs up at night - attracting and retaining great people. You might be wondering what will happen to your costs, operational performance, and operational efficiency (OE) numbers when some of your best people with institutional knowledge walk out the door or retire. While you can’t always help it when your employees leave, you can employ several methods to keep your procurement team motivated, which include:
Chief Wonder Officer at Wonder Services, Amanda Prochaska, offers this advice:
“Leaders should ask what they can do better and go ahead and do it. Put a system like Arkestro into place so they can work more effectively."
Recognizing employee achievements
Setting realistic goals
Being transparent
Offering learning and development opportunities
Providing and asking for constructive feedback
Empowering employees to do their best work with modern or innovative tools
Hover to learn more
We spend a substantial amount of time pursuing the allocation of parts and managing paperwork. Procurement teams often deal with antiquated systems and processes, so it’s no wonder that companies see a lack of progress on digital transformation projects. Yet, this hasn't deterred CFOs from recognizing the necessity of tech investment. In fact, CFO Dive reveals that nearly one-third of CFOs are already using artificial intelligence in their finance processes. 40% plan to tap the technology in those processes in the next year.
of CFOs plan to tap the technology in those processes in the next year
40%
of CFOs are not using artificial intelligence in their finance processes
66%
The existence of process automation tools does not mean they are utilized well or at all. Today, the average procurement department generally struggles to use its technology effectively,
according to Ardent Partners.
Failing to optimize the use of technology is a failure for any department and demands immediate attention and corrective action from leadership. Add to it the stressors that implementing any ERP system can take months or even years to implement. Contrast that with Arkestro customer Koch Engineered Solutions (KES), who were able to go live within days of engaging with Arkestro.
We were able to clearly understand costs rather than waiting on emails and spreadsheets and manually compiling data – which was a big win for us.
One thing our customers have in common is that they are often sitting on mounds of data, but they don’t have the time to pull numbers and organize information to make data driven decisions. These short time frames can affect supply or fundamental business continuity and getting data out of multiple systems to uncover important insights can pose a serious challenge.
According to EY’s CPO Officer Survey, one of the top priorities for a CFO is to develop a procurement strategy. To do this, you need clean and accurate data to drive better decision making. A Materials Procurement Manager at a leading design build contractor had this to say about Arkestro:
CFOs have a lot on their plate as it stands and are being turned to, to provide sustainable market expansion and partner with operational and production teams that have been challenged through inflation and COVID. The good news is that the balance of power is shifting back towards finance teams and the CFO has more opportunities than ever before. The bad news is that they must tackle the previous three problems while delivering on their objectives.
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Practical PPO Takeaways
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PPO is about harnessing the power of the data around you to help you save time, reduce business risk, and decrease costs so you can find the right supplier at the right price, right now.
Unlike other solutions, Arkestro stands out by getting you up and running in weeks, not months, with a swift realization of value, and tangible results. So what are you waiting for? Bring your business into the 21st century so that you can attract great talent, have your systems learn from decisions you make, and store all the details you need to conduct transactional cycles in one, easy to access platform.
CFOs are partnering with procurement departments to get quick wins on the board through embedded systems like Arkestro’s Predictive Procurement Orchestration (PPO). Our software is built with machine learning, game theory and data science. Arkestro helps your team make their best buying decisions, faster, at scale, delivering real time recommendations with a minimum of change management.
How can Predictive Procurement Orchestration help make you the hero?
Fundamental business challenges CFOs are being called on to solve
Ways PPO can address those challenges
Specific customer wins from a variety of industries
Practical takeaways
Welcome to the power of Predictive Procurement Orchestration! In this eBook, we will provide an overview of the following. It is our hope that as a CFO, you can take back these learnings to your business and leadership in order to drive compelling outcomes during this time where cost balance is shifting back to finance. Let’s dive in.
Navigating Procurement Challenges with Arkestro
Optimizing Your Procurement Strategy with Arkestro
Achieving Financial Transformation with Machine Learning
Predictive models help CFOs make informed, strategic purchasing decisions that increase time savings and cost savings — even amidst inflation and other global disruptors. In fact, many CFOs are embracing predictive models as a way to combat economic uncertainty. In a recent PWC report, 53% of CFOs said they plan to accelerate the adoption of digital technologies in 2023, and 47% say their top priority is building predictive models. This comes on the heels of findings from Our World in Data which shows an exponential growth of catastrophic events (drought, floods, extreme temperature, wildfires, etc.), up from 200 to almost 500 each year.
Former Johnson & Johnson CPO, Len Decandia, says the lesson here is clear,
“predictability equals resilience. While cost value remains crucial, we can’t forget the importance of resilience."
Chapter 3
%
53
47
accelerate the adoption of digital technologies
building predictive models
of CFOs said they plan to...
You can hear Decandia expand more on this in the webinar to the right. Let’s dive deeper to see how Arkestro’s Predictive Procurement Orchestration helps CFOs achieve high-impact, quick wins, and sustainable margin expansion. Then we’ll highlight how AI and machine learning foster harmony between finance and procurement.
Click to learn more
(The procurement manager for Bel Brands USA estimates that Arkestro reduces time spent on data analysis by 2-10 hours a week.) One way Arkestro helps is dramatically reducing cycle times by suggesting a starting price and a set of suppliers you should use in an event. This starts events closer to where you want them to end.
Every CFO aims to be more strategic across their spend, especially when managing multiple locations or dealing with geographic divides. Arkestro’s Predictive Procurement Orchestration empowers you to do just that by identifying opportunities, creating strategies, and delivering value for the business faster than ever before.
According to Marko Horvat, VP of research at Gartner Finance, financial transformation is a top priority for CFOs. Unsurprisingly, they’re leaning on digital tools like Arkestro’s PPO to achieve that transformation.
Arkestro applies machine learning and internal and external data to your sourcing event before it even begins. This insight reveals which suppliers should be included, what price you should pay, and how to get the results you want, faster. It also increases visibility and profitability, which harmonizes the dissonance that often arises between finance and procurement.
Because Arkestro suggests the pricing, oftentimes companies will accept our bidding price which was lower than what it had been previously!
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of CFOs expect talent and labor costs to increase "substantially"
74%
of CFOs say their company plans to reduce their real estate footprint
37%
At a time when inflation, uncertain changes in interest rates, and geopolitical tensions are on the rise, many CFOs find themselves pressed for time and resources. Arkestro solves the conundrum by freeing up your time to execute on procurement strategy. It allows you to take your next best step by creating a competitive context and automating ordinary processes like price and supplier validation. Meanwhile, anomaly detection resolves issues so you have more time to focus on what really matters.
of CFOs plan to use automation and digital technologies to optimize time and talent
84%
Dynamic Supplier Feedback helps keep suppliers engaged by letting them know where they stand in a sourcing event. When they aren’t near the top, Arkestro offers instant, dynamic feedback so the supplier knows what they need to do to get ahead.
Many CFOs see the incorporation of digital technology as a key route to improving profitability in volatile times. They are so commonly involved in these areas, not just because they think they are hard to achieve and need close monitoring, but also because their success or failure will be critical to how a business performs in the coming years.
- Marko Horvat, VP of Research at Gartner
Likewise, Arkestro founder and Chief Strategy Officer Edmund Zagorin emphasized that CFOs are a vital partner to procurement. “If you think about the state of the world from a statement of record or digital standpoint, CFOs have had a generation to work with general ledger OS, ownership build systems, and ERPs,” said Zagorin.
“In that way, CFOs can be a digital partner to procurement, whereas supply chain is almost always behind the curve from the standpoint of digital tools. The CFO is vital for helping necessitate and facilitate the adoption of those tools.”
- Patti DeVault, Buyer at Dover Chemical
Traditional Procurement vs. Predictive Procurement
Transforming Finance Operations with Predictive Procurement: Top Benefits for CFOs
How PPO Can Help CFOs Rapidly Achieve Corporate Goals
Chapter 4
Top benefits of predictive procurement for CFOs
Real-Time Insights
Predictive procurement provides real-time data for proactive decision-making, facilitating optimal resource allocation and cost management.
Process Automation
AI streamlines financial operations, minimizing manual errors and boosting operational efficiency.
Enhanced Predictability
Machine learning improves predictive accuracy by learning from patterns and irregularities in financial data, aiding in robust financial planning.
Risk Mitigation
Advanced forecasting helps in identifying potential risks, enabling effective mitigation strategies, and ensuring financial stability.
When applied to finance operations, predictive procurement helps to drive process automation, enhance decision-making, and improve risk management. According to McKinsey & Company, CFOs see capability building across the organization and advanced technologies such as automation and real-time reporting as the most valuable areas to address.
A recent Deloitte whitepaper stated that predictive procurement also enhances the value of legacy systems, requires minimal investment, has low requirements for integration, and offers ROI for years to come.
Successful CFOs optimize costs, increase revenue and growth, and streamline operations to increase efficiency. Here’s a look into how Arkestro helps CFOs rapidly achieve these corporate goals — without increasing headcount.
Cost Optimization
Revenue & Growth
(Without Increasing Headcount)
Operations
PPO solutions deliver information efficiently using machine learning, game theory and data science, which produces deep insights and better outcomes. When a supplier responds with a price that isn’t optimal, Arkestro immediately provides a counteroffer. It also gives suppliers instant feedback so they provide the most competitive price.
Arkestro helps CFOs expand reach and influence on all areas of spend by driving efficiency across procurement. By identifying patterns that reduce time spent on tactical activities, procurement teams can increase the percentage of spend under their management without increasing staffing.
Machine learning improves procurement processes on a continuous basis, reducing friction with suppliers and allowing you to run 3x as many events. This allows teams to focus on more strategic work and amplifies procurement’s influence across the organization — no tactical intervention required.
While this transformation has dramatically increased executive visibility for procurement activities, the total workload for most procurement professionals has grown, not shrunk. For many companies, the workload has become a costly problem that is rapidly getting worse.
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The global procurement market was valued at $6.15 billion in 2022, and that number is expected to grow by 11.1% from 2023 to 2030. More firms are relying on predictive procurement to carry out sourcing tasks and simultaneously track company payments and purchases. As a result, digital procurement is playing an increasingly important role in finance.
Here, let's take a look at the difference between traditional procurement and predictive procurement, then discuss the benefits of predictive procurement for finance operations. Finally, we’ll share how PPO can help CFOs rapidly achieve corporate goals.
Traditional procurement is a manual, reactive process based on immediate needs and past data. In contrast, predictive procurement is a proactive approach that leverages AI and machine learning to anticipate future needs and market conditions.
With its seamless user experience, always-on analysis and data, and delegated actions-by-default it is clear to see why Predictive Procurement Orchestration is the latest evolution of digital procurement that can lessen the workload and increase cost savings for your procurement team.
A 2022 ResearchGate study found that traditional procurement often decreases profitability and increases economic instability, often because of supply-related threats, lack of marketplace regulation, and other challenges. On the other hand, predictive procurement increases agility and stability by offering real-time insights for improved efficiency and strategic decision-making.
That’s not to say that traditional procurement hasn’t made advancements in the past couple of decades. This Spend Matters’ report discusses how digital technology has penetrated the procurement industry and it is now ubiquitous.
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Revving Up Efficiency: Automotive
Savoring Success: Food and Beverage
Building Better Bids: Construction
Powering Financial Success: Energy
The Perfect Reaction: Chemical Solutions
Chapter 5
Molding Success: Plastics Manufacturing
PPO is the ideal match for automotive supply chains — ranging from those that have multiple plants, to those going through transformative changes such as the switch to electric, connected and/or autonomous vehicles. As the automotive supply chain becomes increasingly complex, brands are losing power over suppliers — a shift that could lead to 14% higher procurement costs. Fortunately, Arkestro helps purchasing teams stay efficient and focused on value-add activities, such as relationship-building and strategic negotiations. Automotive industry expert, Jeoff Burris, had this to say, "If the supplier and buyer have a relationship where the supplier knows the business opportunity is real, suppliers will pick up the phone. Burris goes on to say:
In an industry where part shortages can happen at any moment and delaying the assembly of cars can be costly, Predictive Procurement Orchestration can help you find the best price for car components without having to collect endless quotes from your suppliers.
“Arkestro allows the opportunity to make more meaningful relationships with suppliers."
It’s no surprise that the Food and Beverage industry has a unique set of challenges. From inventory shortages to difficulty holding product – costs can easily add up. That’s why procurement teams turn to Arkestro to ensure they can find suppliers with all the items in their BOM stock and can guarantee they show up on time in full.
In the procurement world, time is of the essence. Arkestro has really helped to kickstart our digital transformation journey by giving us our time back through leveraging data and AI.
VP of Strategic Sourcing at Bel Brands
amount achieved in savings for a single event
10%
amount sourcing velocity increased by
25%
When the multinational cheese company Bel Brands wanted to build meaningful partnerships with suppliers all over the world, they turned to Arkestro for Predictive Procurement Orchestration. Bel Brands saw the following results:
Since 73% of food brands in the U.S. say supply chain losses were “higher or much higher than expected” in the last two years, Bel Brands is certainly getting a leg up against the competition. But, the savings don’t stop there. Arkestro was able to help a division of Bel Brands, GoGo SqueeZ, achieve a savings of $1 million on a recent RFP with cartons. This was especially impactful with the company expecting to grow double digits every year and having a small procurement team who were looking to become more strategic with their spend.
Predictive Procurement Orchestration can help your procurement team tackle project delays, quality control, sustainability initiatives, and risk management.
“Arkestro allowed us to adapt faster to be able to launch bids. It helps us predict costs and make sure we don't experience cost escalations - definitely a winning brag for our procurement team!"
The Materials Procurement Manager stated:
amount OpEx costs are reduced by
Amount processing time is reduced by
What's the best part of PPO?
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35
It’s an unfortunate truth that a lot of industries are still feeling the impact of COVID-19 through price fluctuations and market volatility. Add in the threat of a recession, high inflation rates, and missing procurement headcount as part of a continued overall construction industry work shortage and you’ll have a supply chain disaster. In an industry like construction, where you are working on major developments, high rises, hotels and more, sourcing setbacks can delay construction projects, causing frustration. Arkestro worked closely with a leading design build contractor to help alleviate some of the stressors they were facing with suppliers – giving them a competitive advantage on project bids.
The primary focus is operational efficiencies. Companies like Shell, Chevron, and BP are all asking their suppliers, 'How can you help me do more with the same team that I have?'
Procurement has come to the forefront as a way for these companies to be more efficient, profitable, and eco-friendly. In an industry with complex local requirements and regulations, procurement allows the energy sector to more easily centralize and consolidate supply chains. Although it’s already second nature for big oil companies to optimize cost savings, procurement helps to maximize efficiency without increasing headcount. Andrew Blum, energy procurement expert and former head of procurement for ExxonMobil had this to say:
The energy sector has undergone a massive transformation since the pandemic. Prior to COVID-19, oil and gas companies felt they had more freedom in pricing and supply chain management. They believed that people would always need their products and they would always be profitable, no matter the circumstances. The pandemic shifted that mindset, highlighting the need to create best practices and shift to a more sustainable industry standard.
Since raw materials account for anywhere from 50% to 70% of sales revenue for chemical companies, Dover Chemical Corporation needed to get the best prices possible — and quickly. In their fast-paced industry, they didn’t have time for manual tasks like data entry, so they reached out to Arkestro for help improving procurement savings and processes. They seamlessly and effortlessly integrated Arkestro with their Microsoft Dynamics AX ERP in 2021.
Now, the company sees 10% year-over-year savings and 95% of all spend goes through Arkestro. “You have to be open-minded and accept the latest technology,” said Steve Toloday, CFO and VP of Administration at Dover. “If you don’t at least take a look at it, you’re probably selling yourself short.”
We are saving time by not having to do any data entry. All we have to do is push it through our system to create a PO. A huge time saver especially with 15 line item PO's. This gives us time for other opportunities and other ways to use Arkestro.
- Patti DeVault, a buyer at Dover Chemical who utilizes the Arkestro platform every day
Reducing manual tasks and increasing time savings is a huge win in the chemical industry. When you are dealing with a variety of components or
ingredients for production, it is helpful that Arkestro gives you more time to work closely with your suppliers and solidify those relationships.
We quickly determined the real-world potential of PPO for a company purchasing large quantities of many different direct and indirect materials, including plastic resins, to service our customers' needs.
But when the company's chief supply chain executive learned about Arkestro at an industry event, he realized it was time to pioneer change. Just a few weeks into a pilot with Arkestro, Westfall’s procurement became more disciplined, productive, and strategic. And though the company has just scratched the surface of its potential, PPO is now a powerful tool that simplifies and streamlines procurement processes across the board.
of industrial equipment operators in plastic manufacturing say their maintenance is predictive
24%
Westfall Technik, a plastics manufacturer based in Las Vegas, Nevada, wasn’t always keen on the idea of predictive procurement. Unfortunately, the sentiment is all too common in the industry:
Just a few weeks into a pilot with Arkestro, Westfall’s procurement became more disciplined, productive, and strategic. And though the company has just scratched the surface of its potential, PPO is now a powerful tool that simplifies and streamlines procurement processes across the board. Through the power of Predictive Procurement Orchestration, Westfall was able to streamline their procurement process, meet the increasing demands of their customers, and save $3.5M on a single commodity resins bid.
- David Schultz, VP & Chief Supply Chain Executive at Westfall
Arkestro is the Transformative Tool for Financial Leadership
We hope this eBook has provided you with an abundance of practical takeaways. First, we learned that predictive models offer a new paradigm for business. The value of predictive models can:
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Strengthen the operational and tactical execution of finance activities like planning, procurement, and overseeing costs for production and delivery
Partner with procurement in a more strategic manner to not just drive margin improvements but to predict them
Initiate operational efficiencies with cost savings and reductions before they are even delivered
Enable headcount to be allocated towards functions that are value creating versus tactical or operational
Next, we learned about the advances and breakthroughs in artificial intelligence and machine learning. These technologies have created massive opportunities for CFOs in manufacturing companies with multiple plant locations to take control as a strategic player in not only managing costs but expanding margins. Digital projects that once took months and years are now taking days or weeks. These projects can now be embedded in existing systems so they don’t require lengthy consulting engagements, so you can see cost savings of 16% within 60 days! Finally, we took a deep dive in several industries where Predictive Procurement Orchestration is making a tangible impact. You saw firsthand how Arkestro has helped businesses like yours achieve significant cost savings, reduce manual tasks, and streamline their procurement processes.
Responding to last second logistics issues
Allowing you to buy items earlier in the process
Improving supplier relationships
Impacting key numbers and business metrics linked to margin expansion
Companies are striving to right the ship after years of inflation, taking price increases from suppliers, and bottlenecks in logistic supply chains. This frequently puts finance and CFOs on the receiving end of cost increases. Arkestro utilizes predictive models that document and learn your best buying decisions to speed up your processes, allowing you to tackle all categories of spend. As a CFO, it can also help by:
We hope this eBook and the power of PPO will enable you to become a strategic player who partners with other business functions and helps you to deliver predictable, repeatable expansion of EBITA to your board. We encourage you to continue the conversation by chatting with our experts or take a self-guided tour through our product videos. After all, the balance of power is shifting so remember platforms, like Arkestro, can provide you with an incredible leverage point to get back in the driver seat and control your business outcomes.
Chat with our experts
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Arkestro Predictive Procurement Orchestration (PPO) applies machine learning, game theory, and data science to help our customers identify and execute their best procurement decisions faster and across all categories of spend. By analyzing historical and live procurement data, Arkestro generates suggested prices at the item level, followed by real-time feedback to coach suppliers and increase competitive responses. The unique power of PPO enables customers to run 3 times as many events and achieve an average savings of 16% without adding headcount. And with no integration required, Arkestro customers are up and running and saving within days! See Arkestro in action at arkestro.com.
“Predict and Win: How Predictive Procurement is Supercharging Strategic Finance,” Edmund Zagorin, Raab & Co., 2022.
“2022 Global EY Chief Procurement Officer Survey: Procurement in a post-pandemic world,” EY, https://assets.ey.com/content/dam/ey-sites/ey-com/en_uk/topics/supply-chain/ey-2022-global-ey-chief-procurement-officer-survey.pdf, accessed on 5 August 2023.
“CFOs Keep Focus on Tech, Profitability: Grant Thornton,” CFO Dive, https://www.cfodive.com/news/cfos-tech-profitability-grant-thornton-generativeai/696737/#:~:text=Companies%20have%20already%20taken%20steps,processes%20in%20the%20next%20year, accessed on 5 January 2024.
“How Long Does it Take to Implement SAP S/4HANA?” SAP Press, https://blog.sap-press.com/how-long-does-it-take-to-implement-sap-s4hana#:~:text=SAP%20S%2F4HANA%20Cloud%20leverages,of%20SAP%20S%2F4HANA%20quickly, accessed on 1 September 2023.
“What’s Important to CFOs in 2023: Six topics shaping the finance leader agenda,” PWC, https://www.pwc.com/us/en/library/executive-leadership-hub/cfo.html, accessed on 5 August 2023.
“Number of Recorded Natural Disaster Events, 1900 to 2022,” Our World in Data, https://ourworldindata.org/grapher/number-of-natural-disaster-events?time=1900..2022, accessed on 1 September 2023.
“CFOs Share Perspectives, Priorities, and Plans for 2023,” CFO Journal, content by Deloitte, https://deloitte.wsj.com/articles/cfos-share-perspectives-priorities-and-plans-for-2023-01675186248?tesla=y&tesla=y, accessed on 5 August 2023.
“Gartner Survey Identifies the Top 10 Priorities for CFOs in 2023,” Gartner, https://www.gartner.com/en/newsroom/press-releases/2023-01-10-gartner-survey-identifies-the-top-10-priorities-for-cfos-in-2023, accessed on 5 August 2023.
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“CFOs’ balancing act: Juggling priorities to build resilience,” McKinsey & Company, https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/cfos-balancing-act-juggling-priorities-to-build-resilience?, accessed on 1 September 2023.
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“The Future of Procurement in the Age of Digital Supply Networks,” Deloitte, https://www2.deloitte.com/content/dam/Deloitte/us/Documents/process-and-operations/us-cons-digital-procurement-v5.pdf, accessed on 5 August 2023.
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“The Future of the Automotive Value Chain: 2025 and beyond,” Deloitte, https://www2.deloitte.com/content/dam/Deloitte/us/Documents/consumer-business/us-auto-the-future-of-the-automotive-value-chain.pdf, accessed on 5 August 2023.
13
“2023 Food, Beverage and Agriculture Supply Chain Risk Report,” Lexology, https://www.lexology.com/library/detail.aspx?g=6b6d04b8-c8af-4667-aed8-2c56b15bee38, accessed on 5 August 2023.
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“How Contractors Use Predictive Models to Improve Margins, “ for Construction Pros, https://www.forconstructionpros.com/business/article/22867645/arkestro-how-contractors-use-predictive-models-to-improve-margins, accessed on 1 September 2023.
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“Inbound freight: The savings opportunity chemical players overlook,” McKinsey & Company, https://www.mckinsey.com/industries/chemicals/our-insights/inbound-freight-the-savings-opportunity-chemical-players-overlook, accessed on 5 August 2023.
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“How to Overcome the Top 5 Challenges in Plastics Manufacturing,” Conair, https://www.conairgroup.com/resources/resource/top-5-challenges-in-plastics-processing/, accessed on 5 August 2023.
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“A Running Start at Predictive Procurement Orchestration,” Westfall Technik, https://westfalltechnik.com/a-running-start-at-predictive-procurement-orchestration/, accessed on 1 September 2023.
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“Procurement As A Service Market Size, Share & Trends Analysis Report By Component (Strategic Sourcing, Category Management), By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2023 - 2030,” Grand View Research, https://www.grandviewresearch.com/industry-analysis/procurement-as-a-service-market, accessed on 5 August 2023.
“Comparing Traditional and Sustainable Procurement Strategies: Analyzing the Connections Between These Strategies in Affecting Firm Profitability,” ResearchGate, https://www.researchgate.net/publication/362410854_Comparing_Traditional_And_Sustainable_Procurement_Strategies_Analyzing_The_Connections_Between_These_Strategies_In_Affecting_Firm_Profitability, accessed on 5 August 2023.
