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CPOs are increasingly looking to their teams to build data-driven strategies. More than two-thirds (70%) of procurement functions espouse the importance of data-driven decision making, according to Procurement Leaders’ 2018 Data & Technology report. Yet fewer than two-fifths (39%) believe they use data effectively. Recognising the importance of putting information to good use is one thing, turning the idea into practice is another entirely.
It isn’t a question of building or buying a system and hoping it does that job. Although technology is essential, it is only an enabler, you need to have the right team and mindset to get the most value.
This article is a piece of independent writing by a member of Procurement Leaders’ content team.