It used to be that procurement was all about cost savings and driving efficiencies. While those two mandates are undoubtedly still top objectives today, the highly complex, uncertain and dynamic world in which we now operate is calling on teams to drive even more value at the highest levels. Jim Bureau, CEO of source-to-pay specialists Jaggaer, explains the other ways in which procurement can add value, strategically guide the business and meet the needs of society.
Diversity and inclusion are rising to the top of corporate agendas, making procurement initiatives that drive supplier diversity, ethics and human equity even higher priority. Climate change is still a very urgent issue, putting organizations under pressure to create environmentally friendly supply chains from end to end. Ingenuity is at a premium as organizations seek ways to stand out from competitors, making procurement’s influence and relationships with suppliers critical for product, packaging and transport innovation.
