Analytics, social tools give procurement execs a leg up

05/23/2013 | eWeek

A study of procurement practices on three continents found that companies that leverage analytics and social collaboration tools to manage their supplier networks are more efficient and profitable, with high performers reporting an average of 15% higher profit margins. The survey of more than 1,100 chief procurement officers was conducted by the IBM Institute for Business Value and found that high-performing firms are more agile in their ability to adapt to changing market forces due to their reliance on strategic partnerships and Big Data.

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