Managing supplier base with Predictive Analytics

Procurement organizations throughout the world face challenges while dealing with huge supplier base. It becomes difficult to constantly keep a tab on the suppliers' situation. With dynamic world, organizations have to be proactive while maintaining supplier relations. Predictive analytics is the latest thing which could revamp the way procurement is done. The procurement data can be used and a crucial link can be drawn between the front end and the back end of the business. With Predictive Analytics, organizations would anticipate the future and act in time. Author: Ipsita Suman