When the business engages the supply management group in purchasing and sourcing, it can increase savings, better leverage organizational spend, negotiate stronger contracts, and reduce supplier risk. Managed spend, as a percentage of sourceable spend, serves as a primary indicator of a company’s ability to capture value from the supply management process.

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Top ways Generative AI is used for cybersecurity in procurement include identifying suspicious activity, monitoring for anomalies, detecting vulnerabilities in systems and networks, and analyzing user behavior to identify threats or compromised accounts. Gen AI provides powerful tools to proactively identify and mitigate cyber risks, helping procurement teams protect sensitive data, ensure supplier integrity, and maintain business continuity.

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Understanding how tariffs are processed and validated is critical for SCM professionals because integrating them into existing workflows often demands supplier coordination, internal alignment, and agile problem-solving, especially when 78% must renegotiate costs and over 70% depend on supplier documentation. 

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Procurement/SCM leaders currently outsource various services to third-party providers, partially or entirely. 33% outsource logistics and transportation, followed by 20% who outsource warehousing/inventory management and 14% for IT and technology services. Outsourcing select supply chain functions to specialized partners enhances operational efficiency, ensures access to cutting-edge technology and expertise, and enables procurement and SCM teams to concentrate on driving strategic value and long-term competitive advantage.

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Top challenges Procurement/SCM organizations face with suppliers that affect achieving cost savings include, limited leverage due to sole-source or single-supplier situations, limited supplier competition in key categories and market volatility affecting prices and supply. By proactively addressing these challenges organizations can strengthen their negotiating power, stabilize supply and pricing, and unlock meaningful cost savings, ultimately boosting resilience and competitiveness.

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