What is the Future of Procurement?

Acquisition professionals are facing expanding regulatory requirements, pricing pressures and an ever-evolving environment, compelling procurement leaders to reevaluate their own strategies. For example, many procurement professionals for the past two years have diligently reduced their labor and outsourcing costs, but at what price? Given this landscape, technology acquisition professionals are asking themselves, “What is the future of procurement?”

The Role of the Chief Procurement Resilience Officer Is Evolving

Now, as procurement professionals begin to shape their post-pandemic reality, how can they learn to master change?

Not since World War II, has the procurement profession been so disrupted as with the COVID-19 pandemic. COVID-19 revealed how globalization can both spread a virus and cripple supply chains. In response, procurement leaders are transforming themselves. By building new capabilities and ways of working —from data management to Artificial Intelligence (AI).  Still, procurement professionals will attest to the long-standing challenges around supply chain efficiency, information access and sharing and asset traceability.

 It's no secret that the cloud is the future of business and technology. Cloud computing has become a core competency for organizations, who realize the many benefits it provides, from scale to agility and cost savings to risk mitigation.

The last five years have seen phenomenal growth in cloud adoption.

While around 88% of organizations were already making use of the cloud in 2019, the advent of the pandemic in 2020 and the need for remote working massively increased the number of companies that are using the cloud to store business-critical data and infrastructure.

"Blink” and Strategic Sourcing

by Luke Montoya

Do Not Move into the House without a Contract

by Luke Montoya

Why a Checklist

by Steve Gutzman

August 15, 2018 - By Elgin Ward

Customers want to speed up their contract negotiation process.
Customers T’s-and-C’s can sometimes slow down the Customer negotiation process.
Wise Customers act proactively and strategically to develop an ALTERNATIVE set of T’s-and-C’s to speed up their negotiations.

By Elgin Ward

The Customer should have and follow its own Procurement Process, different from the Vendor’s Sales Process. Customer stakeholders often don’t realize they are following a Vendor Sales Process that gives more negotiation leverage to the Sales Rep and hurts the Customer. For Customers to succeed, IT Procurement must educate stakeholders about the Customer Procurement Process and must SELL the stakeholders on the benefits of following the Customer process and not the Vendor process.