Procurement Magazine walks through time , taking a look at where procurement began and where it is now

Supplier competition grows By the 1980s , procurement experienced an increase in supplier competition , allowing organisations to focus on supplier quality and dependability . Supplier management and strategic sourcing became important factors in procurement , something which remains true today . This transition marked the shift to modern day procurement .

Procurement enters the spotlight again Approaching the mid- ’ 60s , the concept of materials ’ management took hold on a wider scale . An emphasis was placed on competitive bidding , and a rise in trained professionals helped to solidify procurement ’ s status within a business .

Procurement becomes the key to success In today ’ s organisations , it is clear to see the significance of procurement . In the wake of pandemics , geopolitical unrest and other growing supply chain disruptions and complexities , organisations can no longer deny the integral role that this function plays in business continuity and the navigation of such murky waters .

procurementmag . com 17