30-second summary:
A recent survey has discovered that over 50% of retailers and manufacturers are investing in digital procurement to enhance their supply chain functionality. The survey reveals that greater automation and analytics capabilities are required to boost the efficiency of procurement techniques. Companies are seeking to enhance data transparency, particularly in reference to costs incurred throughout their supply chains, as well as reducing their reliance on manual sourcing procedures. Executives predict that investing in procurement technology will improve supplier relationship management, help in identifying cost-saving opportunities and prevent supply chain disruptions.
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