Choosing the right suppliers isn’t just about getting a good price, it’s about building the foundation of a resilient, sustainable supply chain that can support your business goals over time.

For a Chief Procurement Officer CPO, defining a sourcing strategy is no longer just an operational issue, but a strategic lever to balance costs and risks, anticipate crises, enhance innovation and generate competitive advantage. But how do you build the right mix of suppliers? How many and which ones should you involve? How do you evaluate their real impact on the business?

Artificial intelligence (AI) has been a buzzword for years. In fact, the term has been thrown around so often that it’s almost lost its meaning. Even Hollywood couldn’t resist — Steven Spielberg’s A.I. Artificial Intelligence hit theaters back in 2001. Fast forward to today, and AI is more than just a futuristic concept. It’s becoming a tangible, transformative force in our everyday lives and across industries, especially in the business world.

In a global market, supplier management has become strategic lever for companies. Having a structured vendor list is crucial to ensuring quality and continuity in the supply chain. Despite it’s name, an approved vendor list is more than just a list of suppliers: it's a system that centralizes qualified suppliers and continuously monitors their performance, helping companies maintain high operational standards and reduce supply chain risks.