The procurement industry has been challenged with some of the toughest situations over the last two years. During this time, the role of procurement leaders has become even more critical to organizations, and their executive team recognizes their high value. As a purchasing, sourcing and supply chain professional, you’re in the best position to help your company strategically succeed.
Inflation is at an almost 40 year high. You’ve seen reports on the news and social media, it’s the biggest inflation surge since 1982. We’re all paying more for essentials— groceries, gas for your car, natural gas for your home— and Federal Reserve Chairman Jerome Powell just warned Congress that he doesn’t expect inflation to cool down anytime soon.
Sustainability is central to corporate competitiveness, and we’re seeing sustainable businesses elevated as more strategic in the marketplace. Right now, you may integrating a more holistic view of your company’s environmental and social impact into your procurement strategy. Industry experts reveal that advanced sustainable procurement programs help lower costs, increase sales, establish higher levels of innovation and reduce supply chain risk.
CPOs, procurement and supply chain professionals are facing higher expectations, increased role responsibilities, all while striving to remain agile and innovative. Your board of directors and CEO are likely looking ahead toward a more sustainable future in 2022, specifically the long-term environmental and social impact of your organization. Has the need for a strengthened sustainable procurement plan been emphasized to you?
Are your CEO and sustainability managers applying the pressure to incorporate more sustainability efforts into your procurement decisions? Then you've likely discussed with stakeholders that sustainable supply chains and ethical sourcing are seen as competitive priorities and responsibilities. This means there's an added responsibility for you, the procurement and/or sourcing expert, to achieve those green goals even if you don’t have the extra time or resources.
Overstretched and keeping up with numerous demands at your organization.
Managing a complex spend cube full of several challenging categories.
Satisfying the requests of stakeholders on the front line and in the c-suite.
Procurement teams are impressive in what they successfully handle with all they oversee. Here’s the thing though, meeting your budget goals doesn’t have to be so challenging or exhausting when you have a group purchasing organization (GPO) as part of your strategy.
Managing inventory levels of all types of products, industrial spares, components, tools and consumables is complex, time-consuming and expensive. There are often thousands of items to manage across multiple locations. Every item takes up space, uses energy and resources and contributes to an administrative headache.
The following finding from a recent DHL Express survey speaks volumes about the lingering effects of the pandemic on small and medium-sized businesses:
Global supply chains are still feeling the effects of countries and economies shutting down during the height of COVID-19. Over half of respondents said supply chain delays have been their biggest business challenge so far in 2021.
Securing reliable and on-time trucks to pick up your organization’s freight is a difficult task as the market faces increasing challenges of dwindling transportation capacity and skyrocketing shipping costs. Freight carriers continue to bump up their rates and report capacity constraints across all modes of transportation.