ProcureCon Indirect East 2024 Blog

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To acquire buy-in from senior leadership, procurement teams must communicate effectively, highlighting the potential contributions of transformation initiatives to the organization's growth. They should also conduct thorough research, presenting data-driven analyses to support their proposed initiatives. By demonstrating the potential returns on investments, procurement teams can build a compelling business case that outlines the long-term benefits of procurement transformation.

How Procurement Can Drive Value Through Partnerships with Other Departments

Procurement leaders can find it challenging to navigate the complexities of their organizations when attempting to implement changes in the department. It takes more than just day-to-day transactions to deliver business value and make lasting change—it requires collaboration.

How Can Procurement Deliver Value and Continuity in Challenging Times?

Procurement departments are operating in a difficult environment. Supply chain disruptions are ongoing due to global events, and inflation continues to make it difficult to achieve core savings goals.

What’s Holding Back Procurement Transformation?

The role of procurement is at a crossroads. While some companies have maintained value-driven procurement teams at their companies for years, other companies are still attempting to create the type of procurement organization that focuses on transformation rather than pragmatic objectives like achieving savings.

Sprinting with Flexibility to Transform Procurement Processes

In business, a "sprint” is when a team works to accomplish a specific goal within a predefined period. In procurement, flexible sprints allow teams to implement procurement changes quickly and improve the overall efficiency of procurement processes while also adjusting their efforts to account for conflicts.

Creating an Effective Supplier Diversity Program

Many procurement organizations are now pursuing supplier diversity. A "diverse supplier,” is typically one that is at least 51% owned and operated by an individual or group that has been traditionally underrepresented.

Navigating the Impact of Climate Change on Indirect Procurement

Climate change is having a tangible impact on so many industries, including the procurement field. Most organizations will take meaningful steps to protect their direct procurement needs, but climate change could significantly impact indirect procurement, as it doesn't always take priority.

Overcoming Supply Chain Bottlenecks and Preparing for Future Disruptions

Disruptions are becoming more and more common in today's business world. Whether it's a natural disaster or an unexpected change in the market, companies need to be prepared for anything. In this article, we will discuss how businesses can overcome supply chain bottlenecks to keep their business running smoothly during times of disruption.

How to Win the War for Talent in Procurement

As the world becomes increasingly digitized and remote work becomes more popular, the traditional workforce is slowly coming to an end. Companies can expect major changes in the labor component of most supply chains. In this article, we will explore how procurement organizations can win the war for talent, both to bolster their own workforces and to improve their labor supply chains.

Managing and Measuring Procurement Data for a Better Future

The procurement field is constantly evolving, and to stay ahead of the curve, procurement leaders need to focus on data. Collecting and strategically using data can help companies become more diverse and inclusive, reduce their carbon emissions, and accomplish other goals. This article will explore why this is such an important task and how procurement leaders can overcome any challenges they face.

Promoting Supplier Diversity in 2022 and Beyond

In 2022, supplier diversity will be more important than ever. Here, we'll explore how procurement leaders can support minority-owned suppliers and why incorporating diversity into the corporate supplier strategy can benefit the business.

How Procurement Can Help Manage Inflation's Impact on the Business

Businesses and supply chains are struggling with multiple challenges at once. Here, we will explore how procurement and supply chain functions can play a role in enhancing resiliency as orchestrators between the business and its suppliers. By working together, these teams can help the company navigate these uncertain waters and maintain stability during these challenging times.

Major Procurement Statistics You Need to Know Now

For procurement professionals, staying up to date on the latest procurement statistics is essential. After all, knowing where the industry is headed will help you make better decisions for your own business. That's why we've put together a list of some of the most important procurement stats you need to know now. Keep reading to learn more.

How Nestle Maintained a "Robust" Supply Chain in 2020 and Prepared Itself for the Future

Supply chains are growing in complexity in almost every industry, and there's no indication that things are going to get simpler anytime soon—at least, not based on market forces. But many organizations are innovating in the space to make their supply chains more resilient. Not only are they deploying new technologies to enhance supply chain visibility and automation, but they're also working toward a better tomorrow by embracing ethical sourcing and sustainable supply chain initiatives.

Intel Won CSCMP's Supply Chain Innovation Award™ in 2020—Here's How the Company Succeeded

06/14/2021

2020 was a challenging year for leaders at most organizations, but it was especially challenging for supply chain professionals. According to Harvard Business Review, "The supply shock that started in China in February and the demand shock that followed as the global economy shut down exposed vulnerabilities in the production strategies and supply chains of firms just about everywhere."

CIOs and CPOs Must Work Together to for Technology Adoption and Digital Transformation

06/14/2021

Procurement teams have made significant progress in the role of technology sourcing. And although much of this progress can be attributed to the strategic value procurement now brings to organizations and their boardrooms, the partnerships formed between procurement and IT teams—particularly CPOs and CIOs—can't be discounted.

The Future of Supplier Diversity: Where Do We Go From Here?

This past year, supplier diversity initiatives have taken on a new level of importance and awareness amid the ongoing conversation about systemic racism. As procurement professionals, how are we continuing the conversation and pushing our organizations forward.

Investing In Your Team: Developing A Partnership Mindset Among Procurement, Suppliers, and Stakeholders

06/10/2021

While we all recognize the importance of stakeholder relationships, it’s all too easy to maintain a status quo and sometimes adversarial relationship with the business units and suppliers you interface with on a daily basis.

Innovations and Trends in Pharma and Life Sciences Procurement

05/10/2021

In 2020 and 2021, the COVID-19 crisis exacerbated long-standing supply challenges, especially a shortage of components to develop much-needed drugs and medications. Thankfully, organizations are taking a hard look at their procurement processes. 

Driving Agile Procurement Transformation with Group Purchasing

05/10/2021

The past year has taught companies some valuable lessons about how to stay resilient. But agility is perhaps the most important factor in deciding how an organization can adapt to a rapidly changing business environment.

Procurement Can Help the Organization Emerge from the Pandemic Stronger

05/10/2021

According to Financial Management, 95% of business leaders said their companies experienced disruption to strategic sourcing and supplier management processes during the pandemic.

Building More Diverse and Inclusive Teams in Procurement

04/13/2021

In procurement, many organizations have focused on developing supplier diversity as a social responsibility and a business imperative. But procurement organizations must also look internally, incorporating diversity into their own teams...

Sustainability in the Supply Chain: The Role of Green and Reduced Packaging

04/08/2021

Reducing waste and pollution in the supply chain has been a hot topic for years, but the need is becoming more urgent. Climate change and waste in our oceans have dire implications for the global economy as well as the health and wellbeing of those living on our planet...

Cybersecurity and the Remote Workforce: The Role of IT Procurement

04/07/2021

Today's procurement processes operate on multiple platforms and technologies, across borders and oceans, and within multiple integrations between enterprises. Inevitably, sensitive data such as bank account numbers, credit card numbers, invoices, bid information, names, addresses...

Solving the Biggest Challenges in Supplier Diversity

04/07/2021

The ethical and business cases for supplier diversity are already well-established. Developing a diverse supplier base can help organizations promote innovation through the introduction of new products and services, add resiliency and flexibility to the supply chain, and drive competition...

How the Role of Procurement Leadership is Changing in 2021

Now that Procurement leaders are taking part in strategic discussions, they have more opportunities to prove the value of the function. It also represents a significant shift in how organizations are structured around Procurement and which stakeholders the function reports to.

Investments in Robotic Process Automation Deliver ROI - But Barriers Remain

Here, we'll explore the current state of RPA in the Procurement function and what lies just over the horizon for this capability.

Procurement Technology Has Reached a Mature Level of Performance - What's Next?

The quality of Procurement's supplier selection and the function's ability to manage its myriad suppliers are increasingly connected to technology solutions, and cloud-based solutions are dominating this space.

Talent Management Strategies for Procurement

Automation tech increases the amount of data at our fingertips and lowers the amount of tactical work in procurement– the industry now seeks new skill sets.

Cognitive Procurement: Using AI and Machine Learning Tech

Procurement leaders are investing in tech solutions that uses artificial intelligence and machine learning to optimize procurement performance.

Sustainable Procurement: What, Why, and How

Sustainability leaders in procurement align strategies with the company's core values, which found a place in the business case alongside enhanced engagement.

Procurement Strategy for Supplier-Enabled Innovation

02/19/2021

Procurement teams can deliver business value through engaging, collaborative partnerships with innovative solution suppliers.

Digitalization Challenges & Strategies in Procurement

Procurement organizations are finding ways to overcome digitalization roadblocks through business model transformations and digital procurement strategies.

Talent Management & Development Strategy in Procurement

With digital trends and changing needs in procurement, businesses need to identify new skill sets and develop existing talent accordingly.

Technological Solutions to Common Procurement Challenges

Smart technology has solved many painful challenges in traditional procurement operations, allowing for higher productivity and collaboration with suppliers.

Best Procurement Sourcing Purchasing Conferences

Are you part of the procurement community and looking for a helpful place to view upcoming conferences & events? One of the best ways to keep updated on trends in the industry is by attending procurement conferences. Not only can you take away actionable insights from executives from the world’s largest companies, but you can also leave with long-term business connections with your industry peers. In this blog post, you’ll find some of the top procurement and sourcing conferences & events, why you should attend them, and what you can expect.

ProcureCon's 2018 CIO-CPO Report

Within a modern organization, the role of technology is central to productivity. Appointing leadership that can confidently guide the business towards the right solutions is critical.

Procurement Leader Strategies for Bridging Gaps in Stakeholder Alignment

Stakeholder alignment is a critical element of Procurement's success, and understanding how relationships are performing today as well as how they can be improved provides a significant advantage for executives who are able to apply the lessons gleaned from the collective experience of their peers