Kronos

What is the future of procurement in
Belgium?

The function is evolving constantly in Europe and beyond. Explore how procurement consultants are leading the way.
The function is evolving constantly in Europe and beyond.
Explore how procurement consultants are leading the way.

What new capabilities should procurement in Belgium develop to remain competitive?

What new capabilities should procurement in Belgium develop to remain competitive?

The only way for procurement in Belgium to stay up to date and competitive in the current market is to develop new capabilities as and when required. 

This means procurement professionals must use the right combination of the tools available to ensure that the procurement decisions they make are driving the highest value they can. 

These decisions will differ based on the unique standing of your business, its values, and its priorities. Some key capabilities that ensure universal competitiveness in any context, however, include digitalisation, sustainability, and procurement outsourcing.

Digitalisation is a common factor across the current business landscape, but integrating it into your business capabilities means rebuilding your business from the ground up to support greater resilience and flexibility through Procurement 4.0. 

Sustainability is a key priority for modern businesses facing the environmental crisis. Ensuring that sustainability is engrained in your business operations ensures a farsighted view of your company’s future. 

Procurement outsourcing supports external specialisation to be brought into your business to create greater value addition.

Kronos Group’s agenda for the future of procurement in Belgium

As we continue to ensure that each procurement consultant in our team is given the opportunity and training they require to forge the future of procurement, we set our agenda for that future. 

Here at Kronos Group, we believe in an integrated approach to driving business value. This means that every decision we make ultimately feeds into a company’s core goal—whatever that goal may be.

To achieve this we help companies with more than just procurement consulting. We help them establish robust frameworks that are rooted in the best practices that govern the industry.  

These frameworks are designed to address the challenges facing modern businesses and the obstacles they are likely to face in the future. These frameworks provide resilience in the face of a crisis, responsiveness to a volatile market, specialisation through the more efficient use of resources, and a sustainable foundation for growth.

    Where do we go from here?

    Where do we go from here?

    Procurement consultants and the field of procurement consulting have a finger on the pulse of procurement in Belgium, ensuring that the best possible outcomes are achieved by companies and communities alike. 

    Adapting your route to procurement transformation and maintaining a competitive edge in the current market is supported by our hands-on services that include:

    Procurement advisory

    A spend management platform

    The best practices that persist today will very likely evolve tomorrow. The industry is never at a standstill.

    While keeping an eye on the long term and maintaining success in the short term will help you prepare for the future of procurement, that future is powered by the actions taken by procurement professionals today. 

    Stay ahead of the curve with our insights and guidance.

    FAQ

    The key elements of procurement will vary depending on your unique business structure, needs, and objectives. 

    Most procurement functions, however, tend to include a resilient supply chain, effective supplier relationship management, spend management and optimisation, contract management, and a strategic sourcing methodology.
    Effective business processes are what all companies, big or small, in any industry are striving to achieve. 

    Efficiency and effectiveness mean that a company is operating at the very best of its ability and is keeping up with industry and global standards. This is often a difficult objective to meet, which is why it remains an elusive goal for many companies. 

    Striving to achieve efficiency, however, ensures that you are making the best use of your resources, your processes are streamlined and competitive, you are creating higher value addition opportunities, and you have improved your responsiveness to the market.
    The market is changing at an accelerated pace to keep up with the innovative technology being developed. As a result, modern procurement functions must always be in a state of transformation in order to remain up to date.

    This means that even if your procurement function is up to date today, it may be obsolete in a few months. To ensure that it is responsive and effective, you must always be improving your current processes and frameworks. 

    Key signs that your procurement arm may need to be updated are:  
    • You are not outsourcing lower value-added operations
    • Your digital framework cannot adapt seamlessly to the changing market
    • Your procurement teams struggle to maintain a consistent level of efficiency

    Browse our insights on procurement, finance, and project management.

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