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Purse strings loosened for supply management spend
Investment in supply management applications and services is set to increase by 14.5 per cent in 2008, according to the latest report by AMR Research.
"The Supply Management Spending Report 2007-2008", which surveyed supply management and IT executives from 12 industries across both Europe and the US, claims that companies will up their spend to enhance their functionality in areas such as supply visibility, contract management, and supply connectivity.
"We found that many organizations are looking to fill functionality gaps by investing in the tools that will ensure reliable supply in 2008," said Mickey North Rizza, a research director at AMR Research.
"We were not surprised to see this overall increase in spending, especially considering the importance of supply management to a company's P&L and balance sheet.
"Even in a time of economic uncertainty, companies understand that supply management applications can bring more to the bottom line. Tightening up spending equates to spending on applications and services that bring added value, such as supply management."
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