Trust-Based Supplier Partnerships Rank Most Important Among Procurement Professionals

Nearly 80% of procurement professionals emphasize the importance of trust-based supplier partnerships, according to a report released by ControlHub.

“With supply chains facing increasing complexity, understanding procurement best practices has never been more crucial,” according to BuilderNation, managed by ControlHub. “This report offers real-world insights from industry leaders, equipping businesses with actionable strategies to navigate today’s procurement landscape.”

Key takeaways:

●      40% of experts highlight the need for strong forecasting to mitigate delays.

●       Emerging trends, including AI-driven procurement processes, are projected to power 50% of contract management operations by 2027, and the increasing prioritization of sustainable sourcing, with 70% of companies actively seeking eco-conscious procurement solutions.