Procurement has got some serious baggage holding it back. The article dives into how leading companies are shaking off these legacy systems and adapting to the new realities of the market. It highlights the necessity for procurement teams to evolve and the foundational capabilities required for this transformation.
Key Points
- Procurement remains disconnected from supply chain and customer-led decisions.
- Traditional procurement practices are no longer sufficient to address modern challenges such as system complexities and supply vulnerabilities.
- Teams are experiencing high levels of burnout due to overwhelming requests and lack of decision-making influence.
- There’s a pressing need for procurement professionals to adapt to rapid technological and market changes.
- Successful transformation requires strategic alignment and foundational capabilities that integrate procurement within broader organisational goals.
Why should I read this?
If you’re involved in procurement or supply chain management, this article is a must-read! It breaks down why sticking to outdated methods might be costing you more than you think. With the industry’s landscape changing faster than ever, getting ahead of these shifts could mean the difference between thriving or merely surviving.