Spend Management: What Does the Future Hold?

European Leaders (registration and subscription required) recently asked a number of industry leaders and observers about their procurement predictions for 2008. My thoughts are included in the write-up. Overall, the results are fascinating, and I'd encourage all subscribers of European Leaders to take a closer look. One executive they interviewed suggests that "value creation, globalisation, relationship management and sustainability" will be hot topics for 2008. But this same individual also suggests that "the overriding issue in 2008 will be attracting and retaining highly skilled procurement executives."

I suggested in the article that "2008 will see a couple of areas rise in importance in the procurement and supply chain worlds. The first is undoubtedly risk management ... In addition, I suspect we’ll see significant resourcing activity among top performing organizations in 2008, based on new availability and capacity in certain areas of the market as well as shifting trends in global sourcing … I also suspect things will get uglier before they get better on the world trade stage from a political perspective, especially as US politicians start to put pressure on the Chinese more around currency and other issues in the run-up to the 2008 presidential election." Kudos to European Leaders to pulling together this list of prognostications -- which collectively represents a true global view on what we can expect in the Spend Management world this year and beyond.

- Jason Busch

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