The role of procurement is changing. Okay, I know – you’ve heard that before. But after the events of 2020 and the ongoing repercussions, that change has been hugely accelerated.
Increased market volatility and a high risk of supply chain disruption have placed pressure on procurement teams to maintain profitability, better manage working capital, mitigate third-party supplier risks and drive business sustainability. As a result, those teams are playing a more central and strategic role in their organizations.