How can businesses overcome supply chain risks with digital procurement tools?

The present-day supply chain influences include natural disasters, geopolitical issues, supplier bankruptcies, demand volatility, and cybersecurity threats while the impact of supply chain risks for businesses affects operations, finances, and reputation.
The digital procurement tools and their functionalities enhance visibility, streamline processes, and facilitate collaboration. These tools include e-procurement platforms, supplier management systems, contract management software, sourcing and procurement analytics, supplier collaboration portals, and integration with ERP systems.

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