When AG Lafley (ex-CEO of P&G) spawned the famous “Connect & Develop” program with the goal of shifting the majority of P&G innovation activity from within the corporate R&D department to outside of P&G, he was essentially betting on the power of supply markets.
If there’s another department that should philosophically agree with this principle, it should be procurement – especially if it is trying to help the enterprise safely tap innovative supply lines rather than just being a PO pusher or deal negotiator. The good news is that procurement has a rich ecosystem (albeit fragmented) of solutions/services providers to help the department do its job more effectively and efficiently. We explored this topic in a multi-part series:
- The Booming Procurement Services Market: Backdrop and Challenges
- Procurement Services Market Landscape: Market Drivers and Trends
- Procurement Services Market Landscape: The Continuum of Procurement Services
In the last installment of the series above, we highlighted a market spectrum based on 2 dimensions regarding service consumption (i.e., one time vs. continuous) and service resource type (i.e., technology application vs. information/content vs. labor).
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