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Procurement/SCM leaders consider enhancing supplier collaboration and partnerships, along with refining category management strategies to be strategically important for future cost savings. These are closely followed by adoption of emerging technologies and expanding cross-functional collaboration within the organization. Using these strategies can unlock significant cost-saving opportunities, boost operational efficiency, and contribute to overall organizational success.

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While Generative AI use is increasing in supply chain, it is not without its challenges. The biggest challenges include data security/privacy; workforce training/skill gaps; integration challenges with existing systems/processes; and data quality/compatibility. As solutions to these challenges are discovered, the use of Generative AI is expected to increase.