SCM Cutting Edge Concepts (1C): Procurement 2020: A Vision for the Decade Ahead
The business world is forcing its executives, like the Chief Procurement Officer (“CPO”), to adapt to changing market conditions, customer demands, and technology innovations, in order to drive greater value. B2B relationships continue to evolve, as new markets emerge, old markets contract, and customer demand expands for greener and more innovative solutions. With so much innovation and uncertainty in B2B relationships today, it is imperative for CPOs and procurement teams to become agile, innovative, and highly responsive to the shifting sands of the present, while charting a clear course for future.
To remain at the hub of business operations and results, CPOs and other procurement leaders must:
• Start to adopt new strategies,
• Embrace today’s innovations like:
o On-demand talent,
o Marketplaces, and
o Big data analytics,
• — and they must prepare for a future that will look very different from the past.