: Procurement leaders are split between prioritizing cost reduction and actions such as process automation, improved supply chain collaboration and digital skills training that will support recovery and competitiveness after COVID-19, according to a recent Forrester survey. After the pandemic resolves, there will be more competition among surviving firms for the expected reduced demand, according to experts from Forrester and Ivalua discussing the survey in a webinar Wednesday. As a result, businesses will need to have solid relationships and visibility in place with their upstream partners, they said. To navigate current and future uncertainty, Forrester recommends firms invest in software solutions that allow real-time, more centralized collaboration and information-sharing, internally among procurement teams and externally with supply chain partners. Otherwise, hoping suppliers see the email and respond to it in time to manage potential disruptions poses additional risks, Duncan Jones, a vice president and principal analyst at Forrester, said on the webinar. Preparing for a post-coronavirus economy could involve procurement managers having to make the case for going with more expensive vendors in addition to investing in digital collaboration solutions, Alex Saric, chief marketing officer at Ivalua, said on the webinar.

a) What supply-chain technological change and dilemma companies are facing after the coronavirus pandemic is resolved? b) After the pandemic resolves, there will be less surviving suppliers. Many firms may consider a single sourcing procurement system. Single sourcing consolidates purchase volume with a single supplier in hopes of what?