Published: 29 March 2018
Analyst(s): Procurement Research Team
Procurement executives must respond to the significant technological, economic, and operational shifts underway with new thinking regarding the functional value proposition, relationships with business partners, and overall functional composition.
Corporate Trends Impacting Procurement Functions
1. Pervasive Digital Capabilities
2. Corporate Function Drag
3. Data Scrutiny
4. Eroding Process Ownership
5. War for Talent
6. Asset Lite
7. Winners Take All
8. Regulatory Fragmentation
Procurement in 2020
Value Drivers: From Cost Savings and Risk Mitigation to Execution Speed and Business Insight
Procurement’s Role: From Sourcing Executor to Sourcing Advisor
Role of the Business: From Procurement Customer to Disciplined Sourcing Agent
Delivery Model: From Standalone Corporate Function to Hybrid Center of Excellence
Resources: From Execution Staff and Core Technology to Professional Advisory Staff and Customer-Oriented Technology
Conclusion: Preparing Now for 2020
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