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Procurement Value Drivers

Spend Matters welcomes this guest post from María Cecilia Siqueira, of GEP.

Formerly known as a tool for cost reduction, procurement is now changing the business game. The market’s fast pace and global competition has forced some critical transitions in companies’ structure, strategy and execution. As Klaus Schwab, chairman of World Economic Forum, puts it, “Nowadays, it is no longer the big fish that eats the small fish — it is the fast fish the eats the slow one.”

Snap Poll With ISM: What’s the Procurement Value Mix Today? In 3 Years?

Attention, Practitioners: If you want to build a “modernist procurement” organization – and truly benchmark yourself against your peers – you have 1 week to participate in this 5- to 7-minute snap poll we’re doing in conjunction with the Institute for Supply Management (ISM) ahead of the ISM Metrics Symposium. Our snap poll simply asks your take on the “procurement value mix” (i.e., the percentage breakdown of the various types of procurement value-add) today and in 3 years. By seeing how and where the value streams will shift, you’ll also be able to plan for which competencies you’ll need to invest in. But let's back up – how do we define a "modernist" procurement organization exactly? Read on...