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Organizations are facing unprecedented change and disruptions that threaten their future viability. Consumerization, expanding regulatory requirements, pricing pressures, an ever-evolving industry landscape due to M&A activity, shifts to outcome-based pricing are all key forces compelling procurement leaders to reevaluate strategies.

Given this convergence of forces, chief procurement officers must ask themselves "What will be the role of procurement be? Is there one?"

Enabling user friendly processes, policies and procedures, harnessing broad data sets to drive automation and analytics, and empowering self-service across all processes to do more with less are just some of the disruptions that are quickly making their way into each organization.  How can you prepare for the future of procurement?

The CPO agenda for the future of procurement

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Leading procurement organizations have developed an agenda to deal with disruption. They are moving into the future with:

  • Category innovation in procurement. Use deep supply market insights and predictive analytics for integrated business planning.
  • Customer-centric procurement. Become user-friendly function by delivering seamless procurement experiences.
  • Supplier-centric procurement. Drive supplier performance and take relationships to a new level.

And they are enabling the future of procurement with:  

  • A digital procurement platform. How do you harness technology to re-energize and re-focus procurement's activities?
  • Procurement insights and analytics. How do you capitalize on data to drive work prioritization and deliver superior procurement experiences?
  • The procurement workforce of the future. Are your procurement professionals ready to become relationship brokers and data masters?
  • An agile procurement operating model. How do you restructure the procurement organization to enable flexibility and a strong connection to other parts of the business?

 

 

Where to go from here?

It’s no longer business as usual for procurement. The scale and speed of transformation required to address the mix of disruptors impacting procurement is unprecedented. The key to success is to proactively develop a blueprint for how your procurement organization can turn these disruptors into opportunity for competitive advantage and growth.

This is what the future requires of procurement. Contact us today to start moving forward.

Pontus Sandslätt, Head of Procurement Advisory, KPMG Sweden, pontus.sandslatt@kpmg.se.