As software bills of materials analysis yields business-relevant risk information, customers will use it to make more informed decisions about what to buy and how to price risk transfers.

Organizations face mounting pressure to ensure the sustainability of not just their operations and supply chains, but also those of their domestic and overseas supply chain partners.

Development of SRM tools using artificial intelligence and other advanced technologies is rapidly proliferating, but supply chain organizations shouldn’t forget to personally nurture supplier relationships.

It’s time to challenge using some of the common “best practices,” such as the RFP process, and instead introduce more collaborative approaches when selecting more strategic suppliers.  

To overcome the challenges which have held back sustainability efforts, companies can employ new actions and approaches to improve results.

Businesses that leverage cutting-edge technologies can revolutionize their supply chain operations and reap the rewards.