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How to get the C-Suite to see procurement as a strategic lever versus a cost-savings function

Procurement Insights

“A 2023 survey by KPMG highlights this transition, revealing that procurement leaders are now focusing on supply chain resiliency (68%), introducing new products or expanding into new markets (65%), and improving margins through cost reduction (71%). The focus is on efficiency and control.

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2011 To 2025: The Evolution Of How The C-Suite And Boardroom Views Procurement

Procurement Insights

20202024: Procurement as a Strategic Business Partner Accelerated Evolution During the COVID-19 Pandemic : The pandemic underscored procurement’s role in ensuring supply chain resilience , managing disruptions, and navigating shortages. Professionals became more involved in ensuring supply chain resilience and continuity.

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CTA

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However that’s only part of the puzzle – strong vendor relationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.

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A Balancing Act: Drive Sustainability while Managing Cost and Risk

ivalua

However that’s only part of the puzzle – strong vendor relationships are equally essential. As such, many organizations are increasing technology investments and digital transformation efforts to benefit from long-term cost savings and efficiencies.