The Enterprise Procurement Playbook

Balancing the procurement landscape

It’s no surprise that buying for work looks different than it has in years past. The strategic plan leaders may have dusted off each year and simply refreshed is insufficient. Organizations now face balancing the ongoing short-term response to supply chain challenges with longterm strategic objectives. The strategic impact of the procurement function is felt not exclusively by the CPO or head of procurement, but across the organization, whether you’re a CIO sourcing new technology, or a CFO optimizing cash flow.

How can purchasing teams meet today’s sourcing demands to keep organizations moving forward?

What can organizations do to manage supply chain disruption and plan for the long-term?

The new value pillars of procurement strategy

Despite lingering questions across organizations and constraints on the procurement function, both from heightened cost savings goals and a continued sense of uncertainty, we can expect a few key opportunities for enterprise procurement leaders.

Organizations must prioritize strategies that automate and simplify the way employees purchase for work while recalibrating what it means to be both efficient and agile. For procurement to lead the way, organizations must operationalize supplier identification and selection to manage supply chain disruption. The importance of strategic sourcing to an organization cannot be underestimated.