02 - 03 April, 2019
Radisson Blu Scandinavia Hotel, Copenhagen
+ 44 (0) 207 368 9465
7 Priorities in Procurement You Can't Afford To Ignore
Leading up to the ProcureCon Indirect conference, we interviewed 100 indirect procurement professionals, including senior decision makers from some of the largest and most well known organisations.
Read on to gain a better understanding of where other indirect procurement teams stand on some of the current issues facing the industry, and find out what's being discussed at ProcureCon Indirect 2018.
#1 Responsible sourcing
How was this product made, and where its components come from? These questions are back on the lips of customers, and the media alike after a wave of public attention to the matter. From child labour, to poor quality (or fraudulent) ingredients, to sweatshops, procurement teams are well-placed to make sure that their business is meeting its commitment to responsible sourcing.
#2 Operational efficiency
While driving down costs can be done by negotiating better deals there is also some considerable importance placed on increasing operational efficiency. Doing so means making better use of available resources and ultimately saving money.
#3 Value delivery
Just like beauty, value is often in the eye of the beholder. That being said, progressive indirect procurement leaders increasingly not only look to consistently add tangible value to the categories in which they work but actively measure and target themselves on their ability to do so.
#4 Cost leadership
Perhaps unsurprisingly the number one area of importance for indirect procurement is in the area of cost leadership. Taking a strong stance on cost leadership is a significant driver of improvement to the bottom line and indirect procurement are expected to demonstrate their ability to drive meaningful savings.
Automation as part of procurement processes can lead to savings generated by efficiency. Automating mundane or repetitive processes, like invoicing P2P, saves your employees , and frees them up to work on high-value tasks.
Procurement seek to lead innovation in the way that an organisation uses services, from HR, to IT, marketing and beyond. This is an area in which procurement has the potentially to add real value. The fresh availability of external services can mean easy and comparatively cheap solutions with minimal risk, which is great for a growing company.
#7 Talent development
Although talent development obtained the least amounts of votes in our survey, there are few procurement executives who would argue the importance of having a plan in place to develop the procurement leaders of the future.
Make sure to also download the ProcureCon Indirect agenda to check out all of the great activities, speakers, & sessions planned for this year.