Supplier data is foundational -- and so is a supplier data foundation

Supplier data enables procurement leaders to understand their organization's performance more deeply, predict market opportunities and negotiate advantageous supplier contracts. When market conditions are favorable, these benefits provide a keen competitive advantage; during economic turbulence, they're a must-have for business continuity -- all in all, data is the bedrock of procurement decisions. But the necessity of good supplier data isn’t breaking news. Rather, the advent of innovative technologies, including generative AI and large-language models (LLMs), has emphasized the importance of data hygiene across the enterprise. Case in point: In 2024, 43 percent of data leaders say their organization has adopted… [Continue Reading]