SOURCE TO PAY
“ Whether it is applied to factors such as True Net Cost or Days Payable Outstanding , data enrichment and advanced analytics have the power to transform how companies track , categorize and analyze spend data ”
trade restrictions and manufacturing activity declined due to lockdowns imposed by governments globally .
Deloitte has highlighted four key areas as companies structure their procurement :
• Visibility is precious : Enhance the visibility of your supply network to identify risks and capacity constraints
• Supply is diversified : Assess the financial health and reliability of your suppliers , and strengthen the collaboration to leverage cost optimisation potential
• Stock is rebalanced : Rebalance stock levels and reassess your category strategies to align with post-COVID supply chain planning
• Customer demand is changing : Be close to your customers to understand how their needs may have shifted Accenture recommends a five-point procurement list ; put people first ; secure the supply base ; unlock funds intelligently ; build resilience for the future ; and innovate with purpose .
Across the world , costs are escalating . South Africa ' s mining industry estimates it will cost around R300 million to help the government roll out Covid-19 vaccines to mineworkers and community members as the country battles a surge in infections .
Company heads are adding up the collective costs of procurement , transportation , and storage of the vaccines - but costs can fall if companies club together on logistics .
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