In addition to the operational goals of procurement, it is particularly important to identify the future purpose that the entire team is aligned with and working towards as part of the transformation.
Recession, trade dispute, Brexit – economically and politically speaking, we are living in highly turbulent times and many companies are wondering what the developments mean for their business and what they can do to counter them. The key here is to position the company in a resilient manner, and agile and professional procurement is indispensable in this respect. We show how you can achieve this in our focus topic “Procurement Transformation”.
Not entirely surprisingly, digitization is an important building block in almost every procurement transformation. But where to start and how to implement it?
The Digital Solution Navigator provides answers. One industry that stands for change like no other is private equity. Through comprehensive transformations in investment companies, they create high added value before the companies are sold again. But volatile markets also require investors to rethink and think ahead. This means new impulses for procurement optimization in the portfolio companies. We have conducted a study to find out how private equities are proceeding and what potential still exists.
Procurement transformation is an ambitious way to achieve the vision and goals of procurement. Optimizing its own capabilities and introducing new roles and ways of thinking is often a multi-year process. In order to master the transformation, procurement must also keep an eye on trade and currency influences as well as procurement risks and manage them in a results-oriented manner.
The key to success is coordination with all partners in order to map the entire supply chain – from the supplier to the end customer.