dedicated to operational activities of 34 % while most belive headcount will remain flat ( this requires technology delivering on promises ).
Fulfilling these priorities will require the right focus and expertise . Traditional competencies will be critical , but they need to be part of an expanded set . Procurement professionals need to be more ‘ athletic ’ than ever before .
Q . HOW CAN BUSINESS HARNESS THE POTENTIAL OF TECHNOLOGY ?
» The survey tells us that procurement leaders expect technology to help them reach their prime objectives of cost savings and avoidance ( 91 %), process efficiencies ( 79 %), and enhanced risk management and supply assurance ( 73 %).
It also shows that technology enablement a key element across a variety of areas . However , the survey does not tell us the resources required to achieve results . Organisations that dedicate time , treasure , and talent to harnessing the potential of technology will maximise outcomes .
Q . HOW CAN PROCUREMENT AND SUPPLY CHAIN FUNCTIONS MAINTAIN A BALANCE BETWEEN CURRENT CHALLENGES AND LONGER TERM PLANNING ?
» Tough question . Procurement professionals are ‘ firefighters ’ by nature . The day-to-day , last minute , need-thisdone-now nature of the function will never go away . But there ’ s hope .
As procurement leaders embrace technology , automation and self-service will grow . In turn , leaders and their teams should create capacity for longer-
18 March 2024