Like the businesses they support, procurement functions are facing unprecedented disruption.

The procurement landscape is shifting beyond recognition, due to digitisation, consumerisation, M&A, expanding regulation, price pressures and a move to outcome-based pricing.

And with the emergence of automation and insight technologies, what the procurement function does – and how it adds value – is evolving fast.

Faced with these forces of change, CPOs must ask themselves: “How can we continue to be a strategic partner to the business?”

 

A new procurement model

Remaining effective in this climate will mean re-evaluating procurement strategies; equipping teams with new capabilities; and using digital technology to gain insights and drive change.

To compete, firms must seamlessly integrate their suppliers and customers into an agile procurement operating model; and offer them compelling new digital platforms.

This will require the ability to:

• create self-service processes and procedures in order to do more with less
• harness large datasets to drive analytics and automation
• embed leading workforce capabilities

 

> Download the 'Future of Procurement' report to learn more. 

 

Dealing with disruption

Forward-looking procurement leaders know how to respond to change. They’re prioritising innovation and supplier and customer relationships; and designing decentralised operating models to support business agility.

Explore our insights below to learn about the key imperatives for procurement in a changing world.