Ardent Partners

Procurement Trends, Supply Chain Issues, & Breakthrough Technology Predictions

Ardent Partners' annual report covers trends and predictions to help procurement leaders identify key issues and better prepare for the year ahead.

Challenges and Trends in Procurement

You'll want to read this report to help you:

  • Identify 5 procurement trends and predictions, as well as how they can impact your business
  • Learn how to navigate 5 supply chain predictions to better prepare in the year ahead
  • Implement breakthrough technology to impact sourcing strategy and results

The latest Ardent Partners' research reveals that procurement's long-term future remains bright, even if things look challenging in the near term.

For procurement teams, 2022 will be a more demanding year as teams deal with the ongoing pandemic, inflationary pressures, as well as greater supply chain risk and an evolving team staffing model. Download the Ardent Partners report to learn more about the latest trends in procurement.

Despite the massive challenges brought on by the global pandemic, most procurement organizations enter 2022 with the wind at their back. But the sailing will be rougher for many procurement organizations, and sourcing teams must be ready for the unexpected throughout the year. Most CPOs will face greater pressure to achieve their performance targets, particularly in H2. This pressure, however, must not deter them from ensuring that they build and maintain an active talent pipeline and keep a steady focus on digital transformation. 2022 will be a very interesting, challenging, and rewarding year to work in procurement and most CPOs would not have it any other way.
Andrew Bartolini, Founder and Chief Research Officer, Ardent Partners

FAQ

What are some predictions that can be made based on expected inflation?

First the CPO-CFO partnership will thrive because both inflation and supply risk are at the top of each of their agendas. Second, once the economy begins to slow down and the stock market corrects, the pressure to find more savings will increase for most procurement departments. Third, supply assurance will be a make or break concern for many CPOs, and as a result “low price” suppliers will lose more bids this year. Fourth, inflation will also put more pressure on CPOs to manage their departments strictly within budget. A fifth prediction is that procurement and sourcing teams will award more bids to smart suppliers who justify their higher prices by differentiating with greater customization and value-added services. Sixth, as a result of certain goods and services experiencing sharp increases in price, sourcing teams will have to act with greater vigilance. And seventh, the manipulation of some supply markets will be uncovered in the next year.

What are three breakthrough technology predictions?

First, “apps” will have a breakthrough year for procurement departments everywhere as B2B follows B2C. Second, vendor payments will go digital. And third, predictive technologies will impact sourcing strategy and results. For more details, please see the Ardent Partners report.

Who is Andrew Bartolini?

With 23 years in the industry and 13 years leading the charge at Ardent Partners, Andrew Bartolini is a globally recognized expert in sourcing, procurement, supply management, and accounts payable.

As the Chief Research Officer at Ardent Partners, Andrew oversees all research and client programs, including the annual State of the Market and Metrics that Matter eBook Series, Technology Advisor Reports, Ardent’s monthly webinar series, as well as its in-person and virtual CPO Rising Summits.

Andrew is also the publisher of CPO Rising, the news and research site for Chief Procurement Officers and other procurement leaders and the host of the industry’s exciting new podcast, Procurement Rising.

Advisor to corporate executives and leading solution providers alike, Andrew is a sought-after presenter, having lectured and presented more than 525 times in nine different countries. Over the past decade, Andrew has benchmarked thousands of enterprises across all facets of their sourcing, procurement, supply management, and accounts payable operations, and his research has been part of the Supply Chain Management curriculum at several US universities.

He actively covers the technology marketplace as well as trends in sourcing, procurement, supply management, and accounts payable and has been published or quoted in leading business publications, including The Wall Street Journal, Business Week, Investor’s Business Daily, Forbes, and Fortune, as well as the major trade publications focused on accounts payable and supply management.

Prior to becoming an industry analyst, Andrew developed, packaged, deployed, and used supply management solutions on behalf of enterprises in the Global 2000 while working for several prominent spend management solution providers. Additionally, his experience in strategic sourcing (where he managed sourcing projects totalling more than $500 million in aggregate client spend), business process transformation, and software implementation provides a “real-world” context for his research and writing.

Andrew’s post-MBA work started in management consulting and investment banking, where he structured, managed, and advised on large capital market transactions. Andrew began his professional career running a homeless family shelter in Los Angeles.