As procurement has become more relevant, organizations are redesigning how they work internally and how they collaborate with customers.
It all started with an idea 20 years ago. Our name INVERTO comes from ‘invert’ – perfect for our ambitious goal of turning the world of procurement on its head. Now we can look back on 20 wonderful years – a period which has been guided by a very loyal companion indeed: transformation. And as companies and industries have developed, the importance of procurement has also grown dramatically.
We’re proud to have played a part in actively shaping and supporting that transformation process in procurement. This anniversary edition of Supply Management Insights is our chance to explain our approach and our secret to success. We also share some personal insights and take a look behind the scenes.
Boston Consulting Group has played a decisive role in this rapid development since we joined them in 2017, so we asked them why we were chosen back then and what their vision is for INVERTO. Of course, we are still a long way off achieving our goal, but we believe that the next 20 years will be as exciting as the last, with a lot of new developments ahead. With our cover story, we take a glimpse into the future and see what lies ahead for procurement.
We look forward to more exciting years ahead with you and hope you enjoy reading.
Procurement of the Future
Procurement of the future continues to develop its capabilities along important basic building blocks. Procurement leaders see strategy and culture change, people and capability development, leveraging supplier innovation, and sustainability and responsibility developments as the issues of tomorrow.
This complements current priorities along themes such as internal collaboration, systematic sourcing and commodity group management and, most importantly, the focus on analytics, data transparency and data management. The fact that it can work across all these areas is the most important argument for purchasing to position itself internally as the partner that knows the market, supports with data and works flexibly in agile teams.