Published: 01 February 2024
Major risks transform a relatively predictable world into a “new normal” where the only certainty is continuous, often disruptive, change. Chief procurement officers must move toward agile procurement and dynamic sourcing to expedite complex sourcing events and quickly achieve business objectives.
Organizations are accelerating change to cope with the volatility in the business environment. Digital transformation is accelerating in most organizations, while mergers, acquisitions and divestitures will also happen in many organizations.
CPOs are challenged to cope with numerous parallel changes where business performance outcomes, return on investment (ROI) and time-to-solution are critical outcomes requiring CPOs to closely manage long-term initiatives by segmenting them into major project steps.
Some spending categories continue to experience rising prices while others are seeing downward price pressures. CPOs and their teams may be forced to perform off-cycle category updates due to a varied demand-supply relationship across
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