With artificial intelligence, find new suppliers in days, not months

The right suppliers can transform an organization's performance. Companies that keep their supply bases in sync with the best the market has to offer generate significant competitive advantages. We find that compared to their peers, top performers can achieve cost positions that are 5 to 10 percent lower, with 20 to 50 percent less exposure to key risks such as reliance on single suppliers for critical parts. Cutting-edge supplier capabilities can also help differentiate products, boosting market share. That synchronization is becoming harder to do, however, in a fast-changing global economy where companies' lifespans keep getting shorter and supply-chain disruptions keep happening more often.