The business of procurement will change more in the next five years than it has in the past 50.
That transformation will partly be driven by the repercussions of the political shocks of 2016, which will encourage chief procurement officers (CPOs) to put a premium on flexibility and agility as they manage complex networks of suppliers.
At the same time, technology is abolishing boundaries between functions – ushering in a new age of transparency, where everyone can see what procurement does and procurement can see what everyone else does.
As digital technology reshapes the global economy, it will remove many of the boundaries between markets. Companies like Apple, Amazon and Google, which flourish in several traditional markets at once, will increasingly be the norm, not the exception.
This is a game-changing opportunity for CPOs, many of whom have long felt undervalued within their organisations, to be proactive, align suppliers for the long term good of the business rather than focusing purely on short term cost, and prove they can create value for every stakeholder.
Most importantly of all, it will help them influence strategy, rather than merely implementing it. By asking the right questions, innovating to make the delivery of goods and services leaner, faster, and more pleasing to customers, CPOs can rise above process and become trusted advisers to CEOs and CFOs.
Procurement will never change as quickly, or as profoundly, as in the next decade. That is why we, in partnership with Proxima, are surveying the profession to gather insights on the five key issues that face the industry in the disruptive, yet rewarding, times ahead.
Share your thoughts for a chance to win a prize. You will also receive a summary of the findings once the survey is complete. For full T&Cs, please click here.
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