{"id":606,"date":"2023-05-25T06:48:32","date_gmt":"2023-05-25T06:48:32","guid":{"rendered":"https:\/\/sourcedigitally.com\/?p=606"},"modified":"2023-06-14T08:28:47","modified_gmt":"2023-06-14T08:28:47","slug":"cost-reduction","status":"publish","type":"post","link":"https:\/\/sourcedigitally.com\/lv\/news\/cost-reduction\/","title":{"rendered":"Cost reduction, Supplier sourcing and Digital transformation \/PWC, 2022\/"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"606\" class=\"elementor elementor-606\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8faa12 e-con-boxed e-flex e-con\" data-id=\"b8faa12\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-b4cb54b e-con-boxed e-flex e-con\" data-id=\"b4cb54b\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4767269 elementor-widget elementor-widget-heading\" data-id=\"4767269\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Cost reduction, Supplier sourcing and Digital transformation \/PWC, 2022\/<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cb1ec3d e-con-boxed e-flex e-con\" data-id=\"cb1ec3d\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-31caa81 e-con-full e-flex e-con\" data-id=\"31caa81\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-e859f62 e-con-full e-flex e-con\" data-id=\"e859f62\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-44e2370 elementor-widget elementor-widget-image\" data-id=\"44e2370\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"374\" height=\"266\" src=\"https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/home-grafika.png\" class=\"attachment-large size-large wp-image-159\" alt=\"home-grafika\" srcset=\"https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/home-grafika.png 374w, https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/home-grafika-300x213.png 300w, https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/home-grafika-18x12.png 18w\" sizes=\"auto, (max-width: 374px) 100vw, 374px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa7971e e-con-full e-flex e-con\" data-id=\"aa7971e\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c68bfbf elementor-widget elementor-widget-heading\" data-id=\"c68bfbf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">As per PwC Global Digital Procurement Survey 2022 Top 3 strategic priorities of Procurement are<span style=\"color: #00A551\"> Cost reduction, Supplier sourcing<\/span> and<span style=\"color:#00A551\"> Digital transformation<\/span>.<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-158dca2 e-con-boxed e-flex e-con\" data-id=\"158dca2\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-eb480e7 e-con-full e-flex e-con\" data-id=\"eb480e7\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-89ee00e e-con-full e-flex e-con\" data-id=\"89ee00e\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-277f8bd elementor-widget elementor-widget-image-gallery\" data-id=\"277f8bd\" data-element_type=\"widget\" data-widget_type=\"image-gallery.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-image-gallery .gallery-item{display:inline-block;text-align:center;vertical-align:top;width:100%;max-width:100%;margin:0 auto}.elementor-image-gallery .gallery-item img{margin:0 auto}.elementor-image-gallery .gallery-item .gallery-caption{margin:0}.elementor-image-gallery figure img{display:block}.elementor-image-gallery figure figcaption{width:100%}.gallery-spacing-custom .elementor-image-gallery .gallery-icon{padding:0}@media (min-width:768px){.elementor-image-gallery .gallery-columns-2 .gallery-item{max-width:50%}.elementor-image-gallery .gallery-columns-3 .gallery-item{max-width:33.33%}.elementor-image-gallery .gallery-columns-4 .gallery-item{max-width:25%}.elementor-image-gallery .gallery-columns-5 .gallery-item{max-width:20%}.elementor-image-gallery .gallery-columns-6 .gallery-item{max-width:16.666%}.elementor-image-gallery .gallery-columns-7 .gallery-item{max-width:14.28%}.elementor-image-gallery .gallery-columns-8 .gallery-item{max-width:12.5%}.elementor-image-gallery .gallery-columns-9 .gallery-item{max-width:11.11%}.elementor-image-gallery .gallery-columns-10 .gallery-item{max-width:10%}}@media (min-width:480px) and (max-width:767px){.elementor-image-gallery .gallery.gallery-columns-2 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-3 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-4 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-5 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-6 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-7 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-8 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-9 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-10 .gallery-item{max-width:50%}}@media (max-width:479px){.elementor-image-gallery .gallery.gallery-columns-2 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-3 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-4 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-5 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-6 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-7 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-8 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-9 .gallery-item,.elementor-image-gallery .gallery.gallery-columns-10 .gallery-item{max-width:100%}}<\/style>\t\t<div class=\"elementor-image-gallery\">\n\t\t\t<div id='gallery-1' class='gallery galleryid-606 gallery-columns-1 gallery-size-full'><figure class='gallery-item'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a data-elementor-open-lightbox=\"yes\" data-elementor-lightbox-slideshow=\"277f8bd\" data-e-action-hash=\"#elementor-action%3Aaction%3Dlightbox%26settings%3DeyJpZCI6NTQ0LCJ1cmwiOiJodHRwczpcL1wvc291cmNlZGlnaXRhbGx5LmNvbVwvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAyM1wvMDVcL2Nvc3QtcmVkdWN0aW9uLmpwZyIsInNsaWRlc2hvdyI6IjI3N2Y4YmQifQ%3D%3D\" href='https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/cost-reduction.jpg'><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"325\" src=\"https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/cost-reduction.jpg\" class=\"attachment-full size-full\" alt=\"cost-reduction\" srcset=\"https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/cost-reduction.jpg 600w, https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/cost-reduction-300x163.jpg 300w, https:\/\/sourcedigitally.com\/wp-content\/uploads\/2023\/05\/cost-reduction-18x10.jpg 18w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a>\n\t\t\t<\/div><\/figure>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d5e403d elementor-widget elementor-widget-text-editor\" data-id=\"d5e403d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.3 - 28-05-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>The necessity of digital has become mandatory to enable procurement departments to navigate a context of rising uncertainty and digitisationof all business exchanges. It helps at both reacting to immediate risks and at generating long-term procurement transformation.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fc28408 e-con-full e-flex e-con\" data-id=\"fc28408\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f408b1a elementor-widget elementor-widget-text-editor\" data-id=\"f408b1a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Cost reduction and strategic sourcing are still the spearhead of CPOs, while digital transformation is expanding on roadmaps.<br \/><br \/>61% of procurement professionals keep focusing on cost reduction (37%) and strategic sourcing (24%) to address the challenging context<br \/><br \/>Shortages, price increase, inflation, health crisis \u2013procurement departments are strongly focusing on their core objectives within the company in these times of increasing threats on supply chains.<br \/><br \/>New challenges appeared regarding costs, with the skyrocketing prices of raw materials, and decrease of activity for some sectors calling for drastic cost saving objectives.<br \/><br \/>Building partnerships with suppliers, reshoring strategic suppliers and reviewing supplier panels to find alternative sources are key initiatives to secure needed supplies.<br \/><br \/><\/p><p>Digital transformation is strongly anchored in procurement departments\u2019 agendas:<br \/><br \/><\/p><ul><li>It is ranked third among the top priorities, with an increase of 6 points compared to 2020<\/li><li>It is mentioned by half of procurement professionals as being an important priority for coming years.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ee87fdf e-con-full e-flex e-con\" data-id=\"ee87fdf\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;full&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-272b9ec elementor-widget elementor-widget-template\" data-id=\"272b9ec\" data-element_type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"container\" data-elementor-id=\"166\" class=\"elementor elementor-166\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-658967a e-con-boxed e-flex e-con\" data-id=\"658967a\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f362bb4 e-con-full e-flex e-con\" data-id=\"f362bb4\" 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mums<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Cost reduction, Supplier sourcing and Digital transformation \/PWC, 2022\/ As per PwC Global Digital Procurement Survey 2022 Top 3 strategic priorities of Procurement are Cost reduction, Supplier sourcing and Digital transformation. The necessity of digital has become mandatory to enable procurement departments to navigate a context of rising uncertainty and digitisationof all business exchanges. It [&hellip;]<\/p>","protected":false},"author":2,"featured_media":159,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/posts\/606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/comments?post=606"}],"version-history":[{"count":39,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/posts\/606\/revisions"}],"predecessor-version":[{"id":1696,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/posts\/606\/revisions\/1696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/media\/159"}],"wp:attachment":[{"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/media?parent=606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/categories?post=606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sourcedigitally.com\/lv\/wp-json\/wp\/v2\/tags?post=606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}