The face of procurement has been making a noted transformation as more businesses understand the value of their supply chains and how it supports the core operations of the business.
With global economic and political landscapes experiencing continuous fluctuations, organisations are realising that they require the expertise and tools to mitigate these challenges that could disrupt their supply chains.
In the not-so-distant past, procurement managers were considered to be valuable assets who focused on purchasing materials at competitive prices and coordinating the timely delivery of goods. Today, however, this dynamic has changed.
With the increase in the complexity of the business landscape, businesses are creating more strategic roles for procurement professionals to help navigate through legal, sustainability, regulatory, and ethical considerations to create resilient supply chains.
It is expected that with the growing supply chain demands, procurement professionals will become the gatekeepers of the corporate brand and act as innovators and advocates for future business practices.
Organisations that understand the impact that procurement professionals can have on their supply chains and their ability to forecast and mitigate any potential threats or challenges are far more likely to succeed in volatile environments.
Aside from identifying and mitigating any threats in supply chain operations, procurement managers are also crucial resources that add value to your business.
Many contemporary organisations are realising that they lack the expertise and skills needed to revamp their business processes to support the current business climate. This is where procurement managers can become a powerful asset that can drive decisions and define the supply chains they operate in.
By selecting suppliers that use the latest technology and processes, procurement teams can add value to their overall business operations and increase their competitive advantage.
Many new markets are opening up around the world and most of these remain untapped. While venturing into the unknown may appear to be a risk with drawbacks in research and knowledge, procurement professionals are in a unique position to identify and assess these business opportunities.
There are several ways that procurement professionals are adding value to the supply chains they operate in. With many economic and geopolitical challenges on the horizon, it is no longer a question of controlling prices and managing delivery cycles—procurement professionals are becoming the backbone of organisations.
The only way forward in these volatile times and to create a business that remains resilient against current and future disruptions is by investing in procurement managers who are a part of the company’s strategic decision-making processes.
At Kronos Group, our experienced procurement professionals have provided their expertise to many organisations in Europe and around the world. We have been able to train procurement teams and establish sustainable procurement functions across several industries.
Our team of consultants understands the changing procurement function and the demands that come with it. Keeping this in mind, we have been able to develop complete procurement solutions.
With procurement functions expanding at a rapid pace, organisations must stay ahead of these transformations.
To give us insights into these transformations and provide leading solutions, Kronos Group has partnered with EPSA and Kloepfel Group—together we have formed the leading pan-European procurement service provider. By integrating our knowledge and tools, we are in a unique position to help global organisations meet the demands of the current global market.
Get in touch with our team of procurement professionals and find out how we can add value to your supply chain and help secure your supply chain from potential threats.
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