May 2021 | News | Takeaways

Supplier Information Still a Concern

Tags: Technology , Big Data

The pandemic revealed widespread problems with supplier information on a global scale. While many procurement leaders responding to the 2021 Supplier Information Study, commissioned by Tealbook, had initially vowed to invest in supply chain resiliency, almost a year after the pandemic they still grapple with issues surrounding poor supplier information:

Agility: Nearly all respondents agree that, in the long run, being agile is more important to the bottom line than cost savings. This means taking steps to address their top concerns (see chart), which are varied and important to every aspect of their business.

Innovation: 92% of respondents are at least "somewhat concerned" their company is not in a position to leverage supplier innovation.

Data: About 91% cite multiple concerns stemming from a lack of high-quality supplier data, including compromising the integrity of IT solutions and falling behind the competition.






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