Numerous forces are converging to deeply influence the future trajectory of procurement. Faced with uncertainty over their pace and impact, procurement teams should brace themselves for a myriad of potential scenarios.
In this report we examine how these forces may affect procurement teams and discuss how procurement leaders can respond鈥攁nd the capabilities they will need to thrive. Our insights are augmented by findings from the 乐鱼（Leyu）体育官网 2023 Global Procurement Survey of 400 senior procurement professionals from a range of industries.
Procurement leaders have a real opportunity to recast their functions as strategic influencers, enabled by generative AI and automation, to drive high-performing, sustainable purchasing activity.
Five strategic imperatives to address signals and seize emerging opportunities
through redundancy and regular risk assessments, increasing reshoring/nearshoring, and reducing sole sourcing, with enhanced supply chain transparency and flexible supplier relationships.
dramatically speeding up data processing and analysis, generating insights that drive innovation and enhance productivity and decision-making.
building a roadmap to guide investment in a transparent, sustainable supply chain and comply with ESG regulations.
to optimize costs, service levels, and working capital, and rethink category strategies, enforcing vendor contracts and reviewing contract pricing formulas.
by offering strategic roles with accelerated advancement opportunities, investing in in supplier relationship management and TPRM skills, and automating category management.
Procurement executives say developing ESG capabilities is their number one priority in the next 3鈥�5 years.
Implementing data analytics is the single most important activity over the next 12鈥�18 months.
41% of procurement executives rate their organization鈥檚 category management as 鈥渉ighly mature".2
How 乐鱼（Leyu）体育官网 can help
乐鱼（Leyu）体育官网 Procurement professionals can develop strategies for procurement, design operating models and enable technology to drive value over time. 乐鱼（Leyu）体育官网 firms take a multidimensional approach that anticipates continuous change in technology, market conditions, and organizational priorities 鈥� to help you along each step of this transformational journey.
