Procurement (1A): Procurement and Supply Management in the Future
Strategic sourcing has become increasingly challenged by its own success. At many companies, multiple waves of sourcing have resulted in a consolidated supply base, with supplier profit margins kept in check by regular application of competitive pressure. In other words, the low-hanging fruit has been picked.
Meanwhile, services comprise nearly 75% of GDP in high-income countries, and research indicates that companies invest roughly 50% more in intangible assets (for example, brand, intellectual property, data assets) than they do in physical assets.
At the same time, new and evolving technologies offer the promise of digital transformation – though separating hype from reality is no easy matter.
To continue to uncover and deliver value in this brave new world, Procurement & Supply Management professionals need new strategies and tools. During this session, we will explore emerging opportunities and cutting-edge practices – and we will consider how Procurement can evolve from sourcing goods and services, to sourcing solutions, external talent, and innovation.