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The Advantages of Supply Chain Diversity
Diversity in procurement and supply chain management brings significant advantages such as innovation, improved decision-making, and risk mitigation. A diverse supply chain allows organizations to tap into new markets, increase sales, manage disruptions, and meet diversity and inclusion goals by working with suppliers from diverse backgrounds and geographies. New Dominion Consulting is committed to helping clients cultivate more robust, diverse, and resilient supply chains.
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Extreme Weather & Supply Chain Resilience
Extreme weather can wreak havoc on supply chains and, based on the lates IPCC report, is likely to become more common. Companies can take several steps to prepare their supply chain for extreme...
AI on AI: Procurement
Artificial Intelligence (AI) is predicted to revolutionize corporate procurement by enhancing efficiency, decreasing costs, and quickening decision-making. AI can automate the purchasing process, optimize supply chains, help identify procurement risks, analyze procurement data for trends and optimizations, and manage contracts effectively. However, AI isn’t a substitute for human judgment and expertise and should be used cooperatively for optimal results.
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