Procurement Magazine October 2024 | Page 164

RISK & RESILIENCE

procurement function can generate value for their organisation : “ From generating cost savings to safeguarding supply , it ’ s increasingly clear that the post-COVID shifts in how people live , work and play were not temporary . We ’ ve entered a new economic era characterised by volatility , regionalised supply chains , AI maturity and talent scarcity .

“ Procurement practice is transitioning from basing decisions on assumptions of supply security to mitigating disruption risk by optimising their supplier portfolio with , for example , a robust diversification strategy .”

Alex Saric , Chief Marketing Officer at Ivalua , one of the leaders in cloudbased procurement software , says since the pandemic there has been more focus on preventative measures , with companies ensuring they have

SAMIR KHUSHALANI PARTNER , MCKINSEY

TITLE : PARTNER COMPANY : MCKINSEY

INDUSTRY : MANAGEMENT CONSULTING

LOCATION : TEXAS , US

Samir Khushalani is a partner in McKinsey ’ s Houston office . He helps companies transform their procurement function to improve productivity and unlock new sources of economic value through innovative operating models , capability building , agile execution , digital enablement and advanced analytics .

a diverse portfolio of suppliers to mitigate the impact of geopolitical , regulatory and environmental risks .

Todd Abner , Founder , President and CEO at OMNIA Partners , which provides procurement and supply chain management services , echoes how the pandemic presented “ a seismic shift in how procurement officers worked .”

Due to supply chain disruptions , procurement teams increasingly relied on group purchasing organisations ( GPOs ) to build stronger supplier relationships and enhance emergency response plans , acknowledging that they couldn ’ t manage supply chain issues alone . As businesses focused on continuity ,

164 October 2024