Procurement teams needs to create a vision for how they are going to deal with digital transformation.

For every dollar consumers spend on food, only 7.8 cents goes to farmers — a record low that reflects shifts in how Americans eat, according to the Department of Agriculture.

Aerospace suppliers are starting to explore blockchain technology to keep tabs on their supply chain, potentially tracking parts such as that at the center of a Southwest Airlines accident last month.

Challenge: A company's engineering and sourcing departments were siloed and lacking access to historical information and accurate market data (pricing, availability and risk). The engineering department partially designs based on performance, but the bills of materials (BOMs) sent to the sourcing department were not procurable. The company needed access to the right data to increase contract negotiating power and reduce product launch risks due to inventory and manufacturing issues.

SunPower is the nation’s No. 2 commercial solar-power company, employing thousands of workers directly and indirectly. But it makes most of its solar panels abroad, and with the tariffs recently imposed by President Trump costing it as much as $2m a week, SunPower is fighting for an exemption.