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What's next for procurement? It's an ongoing conversation with lots of opinions. There's general agreement the profession has come a long way, but still needs to take further strides to reach the ultimate goal of being more strategic and influential. What you think may depend on where you sit. Here's what's on the minds of analysts, consultants and practitioners.
Four steps for procurement to become the belle of the ball – Supply Management
While there's general agreement that procurement should be a strategic business partner, a recent Deloitte survey found that only 28 per cent of CPOs felt their procurement function was highly regarded internally and seen as a key business partner. What can the other 72% do to get there? It’s not a skills issue. It's a behavior issue. Mike Straw has some thoughts on what kind of changes are needed.
4 Big Ideas That Transformed Procurement Technology - Procurious
To see the future, it's useful to look at the past, says Tania Seary writing on Procurious. While we can scarcely remember procurement before common protocols, online catalogs, reverse auctions and barcodes, these are the top technologies that have helped shape the profession as we know it today. As Seary notes, all of these developments are at least a couple decades old so we’re due for a new technology bump.
Trust Us, We're in Procurement – Procurement Leaders
Procurement's post at the intersection of internal stakeholder, suppliers and customers is a powerful one. To leverage it and sit at the center of key strategic discussions, there is one thing that must be in place: Trust, writes David Rae. Obviously the trust of internal stakeholders is critical, but supplier trust is no less important if an organization is to bring new capabilities to market ahead of the competition.
One Face to the Supplier – Industry Week
There can be benefits to having a corporate supply management function. One rationale is the need for a company to project one face to the supplier. But when setting up a program, be wary of a broad-brush approach. Take market differences, seasonality, geography and economies of scale into account to ensure that you don’t create a mess downstream when lowering piece-prices at the corporate level.
Procurement of the Future: The Life of a CPO in 2025 – Procurement Leaders
Procurement's role has drastically evolved over the years and will continue to do so says Mickey North Rizza writing on Procurement Leaders. Today, procurement professionals are increasingly recognized as strategic business partners, and responsible for an plethora of initiatives. The CPOs of 2025 will focused on achieving company value, rather transactions and savings. This means more visibility, smart procurement processes and collaborative discussions, ultimately helping your team outperform the market.