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Blog
5 Ways Predictive Procurement Is Transforming High-Tech Manufacturing
Historically, technological advancements have powered the major evolutions in manufacturing, starting with the steam-powered industrial revolution of the late 18th century, followed in the early 20th century by electricity-powered mass production, and then the advent...
Technology Trends 2024: McKinsey’s Analysis & What It Means for High-Tech Manufacturing
The high-tech manufacturing industry — and the market at large — has seen its share of challenges over the past few years. Technology equity investments fell 30-40% in 2023 alone, largely due to increased costs and economic uncertainty. Elevated costs, talent...
Navigating Procurement Disruptions: A Candid Discussion with Dr. Rutkoski
It’s no secret that we’re in the midst of a supply chain crisis. The Baltimore bridge collapse, geopolitical instability, and even recent IT outages have impacted a whole range of industries, from airlines to banking to logistics. For procurement teams, this adds even...
Get Out of the “Bad Habits” of Traditional Procurement by Leveraging 21st Century Technology
By Matthew Mills, Solutions Consultant at ArkestroProcurement has long been at the forefront of organizational strategies, with the objective of managing spend efficiently and driving cost savings. Historically, the focus has been on optimizing portfolios of...
What a Shifting CFO’s Focus Means for Procurement
For CFOs in procurement, the pressure is on. They are tasked with all the historical expectations of managing financial reporting, statutory compliance, and bookkeeping, but are now increasingly expected to also be a business partner with strategic and operational...
Automated Line Item Suggested Pricing Leads to Success
AI and machine learning is taking procurement by storm and once time consuming tasks are becoming streamlined through technology and data-driven processes. With so much potential to leverage, 79% of corporate strategists report that AI and analytics will be critical...