The supply chain is an intricate sequence of processes involved in the production and distribution of a commodity. Linking producers, vendors, suppliers, transporters, and consumers, this network is a much a network of relationships as of processes and systems-relationships bound and defined by contractual agreements.
The hard knocks of 2020 taught us how critical it is to build resiliency in order to adapt to and pivot from any disruption. 77% of organizations today realize the need for change and are accelerating investments in supply chain sustainability over the next few years, reports Supply Chain Dive.
With this in mind, your supply chain strategy will need to transform in order to adapt to a new normal and position your company competitively in a disruptive environment. Intelligent contract management solutions are going to be a key lever to drive this resilience and mitigate risks within the global supply chain. By putting contract-centric operations at the core of your business strategy, you can enable the level of insights needed into supplier performance, pricing volatility, risk associated with language modifications to a contract, and gain visibility into commercial engagement obligations.
Get a deep, hard look at some of the risks in the supply chain, along with the role of intelligent, AI and ML-driven contract management in defining what risk management and supply chain resilience looks like post-COVID-19 pandemic. We also share some best practices to future-proof your organization with intelligent contract processes and capabilities.
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