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Hackett: Procurement Renews Focus On Cost Reduction as its Top Priority

The Hackett Group

Procurement leaders are also actively evaluating how generative AI (Gen AI) can help them improve both efficiency and effectiveness in a range of functional areas. Procurement is once again anticipating an efficiency gap in 2024 as workload is expected to increase by 8% in 2024, while budgets are expected to rise by only 1.6%.

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The Business Benefits of Impact Sourcing: Beyond Social Good

NoonDalton

In today’s fast-evolving business landscape, the integration of Environmental, Social, and Governance (ESG) principles into corporate strategies is not just a trend but a fundamental shift in how businesses operate and thrive. They are strategic decisions that reinforce our commitment to sustainable and inclusive business practices.

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Six Levers for Digital World-Class Procurement Performance

The Hackett Group

This also includes investments in emerging technologies such as smart automation, advanced analytics, and collaboration tools that enable greater automation. For example, 68% of organizations currently have self-service portals or networks deployed, with an expected increase of 21% during 2021. Data and analytics.