Manufacturers exist in a difficult environment where they must navigate crises, changing regulatory requirements, global competition, and evolving customer expectations. While the industry has seen significant improvements in technology over the years to help organizations stay ahead of these challenges, one area that is often overlooked that can make a significant impact involves advanced procurement and supply chain digital solutions.

A new global research study of the manufacturing industry from Ivalua and IndustryWeek reveals the challenges faced by hundreds of procurement and supply chain practitioners and what impact a technology solution that enables deeper visibility, real-time collaboration, and automated spend management would have on their supply chain.

Some highlights include:

• Over half of respondents believe visibility and collaboration within their supply chain would reduce inventory and costs, minimize supply issues, and improve profitability and decision making
• ALL respondents see standardization of processes as the top defense against risk moving forward 
• Only 20% of respondents use a single, cross-enterprise digital solution, causing them to miss out on best practices and opportunities to generate maximum value for their organizations

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