Catch up on the latest CAPS News: Explore best practices for cost savings, market trend insights, and how experimentation can drive supply chain success

According to a recent CAPS quick poll, the top 3 ways a procurement/SCM team gathers market intelligence is through industry events and networks; free resources; and from paid third-party tools and subscriptions. Effective market intelligence is a key tool for reducing supply chain costs and risks.

Catch up on the latest CAPS News: Embracing Experimentation Webinar, Trends that Impact Suppliers, Communicating Procurements Value, Strengthen Your Procurement Organization with CAPS Metrics

The use of Generative AI in procurement has increased by 15% in the past year, mostly for creating documentation; translating, standardizing, or improving language; as well as analyzing spend to identify opportunities for savings or consolidation. With most organizations spending under $10,000 for AI adoption, it is proving to be a cost-effective time saver.

Catch up on the latest CAPS News: Explore the Power of Experimentation, Review Best practice in Cost Savings Management, Discover our Guide to X-Shoring