The strategic importance of the procurement and supply chain functions became abundantly clear during the COVID-19 pandemic.
Suddenly, the ability to source essential items around the world was severely limited, with many tier 1 and tier 2 suppliers unavailable or difficult to reach. Entire business models transformed overnight as customer behaviors changed - in particular, as e-commerce exploded during country lockdowns.
To maintain business as usual while meeting these changing needs, executives depended on robust data-sharing and collaboration within organizations and across business ecosystems, all underpinned by a skilled workforce capable of adapting on the fly.
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