Did you know that on average, it takes three months to complete a single supplier search, with a sourcing professional logging more than 40 hours of work—and yet able to consider only a few dozen suppliers from a total population of thousands?
In today’s fast-paced landscape, companies that swiftly adapt their supply bases unlock a world of benefits – cost savings, resilience, and growth potential. But the process of finding the right suppliers has traditionally been time-consuming and challenging. Many companies continue to rely on long-standing suppliers, missing out on potential value and leaving themselves vulnerable to supply-chain disruptions.
McKinsey & Company’s article provides a compelling validation for our business, as our tool perfectly aligns with their insights. AI-driven supplier discovery tools are transforming how companies identify and optimise their supply bases, empowering them to find new suppliers in days, not months. Our cutting-edge supplier discovery solution does what McKinsey describes – it enables companies to identify suppliers at lightning speed while de-risking their supply base.
Read the full article here.
To learn more about how Forestreet’s AI-driven Supplier Discovery Solutions can help make your business achieve efficiency in supplier identification, and ensure a robust supply base, book a demo today.