Procurement Efficiency: Your path to cost savings

Procurement: Your path to higher efficiency

CPOs: Identify cost savings today. Build resilience for tomorrow.

Chief Procurement Officers (CPOs) and procurement leaders face immense pressure to create value. Given ongoing uncertainty and recession risk, every CPO is working hard to drive cost savings in the short term. After all, economic downturns typically open the door for negotiating better terms with suppliers – but only if procurement teams execute with speed and confidence.

Beyond short-term negotiations, CPOs have other opportunities to drive cost efficiency across spend categories and business processes. The key is identifying the right levers, knowing how and when to pull them, and incorporating leading-edge technology like AI. In doing so, procurement leaders can turn their operations into sources of value creation and innovation.

Where to start? To drive real margin gains, CPOs have key questions to tackle such as: How can AI tools help drive efficiencies and increase value? Where is there “leakage” in my current procurement lifecycle? Where could my enterprise implement technology to unlock cost savings? How is my outsourcing strategy helping (or hindering) procurement efficiency? How can I strengthen strategic alignment with the business – and partnership with the CFO – to boost performance.

KPMG helps some of the world's leading procurement professionals make efficiency and margin gains through AI and other tools that ignite sustained growth. At every step, we help procurement leaders make decisions with precision and confidence.