A strong procurement function creates resilience in supply chains, reduces costs and ensures quality inputs. Understanding the supply market, trends and risks to identify the best opportunities for supply value. Understanding the supply market, trends and risks to identify the best opportunities for supply value. It allows finance teams to forecast cash flow accurately, ensures suppliers are paid on time and provides management with a complete view of committed and actual spending. Distinguishing between strategic, preferred and transactional suppliers ensures that attention and resources are focused where they deliver the most value.