Procurement Article & News
Is Inflation Killing Your Supply Chain?
Inflation is a tricky topic for many of us – frequently discussed, but often not understood, especially when it comes to the negative impacts. But now, for supply chains, this knowledge is more critical than ever. When we think of inflation, we may think of terrifying photos of people walking around with wheelbarrows full of cash during the Great Depression; money that lost value with every step they took. But inflation in modern times? It’s discussed, of course, and it happens, but it certainly isn’t a topic of everyday conversation.
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4 Objectives to Set Yourself in 2022
What are you looking to achieve this year? We’ve got some hot tips on objectives you really need to set yourself in 2022. It is traditionally the time when people in all careers sit down, individually and with managers, to consider, discuss and set down their aims, objectives and targets for the year. PDRs might not be everyone’s idea of fun, but they do have major benefits in keeping us all on track and in line with wider organisational strategies.
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10 procurement projects that inspired us in 2021
Read about 10 transformative projects our members have been working on that inspired us in 2021 It’s been a challenging year for procurement. While 2020 was a year of firefighting, the past 12 months have seen the function continue to deal with uncertainty as has inflation soared and logistics face continuing disruption due to the Covid-19 pandemic. At the same time, procurement organisations have had to balance these short-term challenges with continuing to deliver on long-term projects to drive the function forward. Here are 10 transformative projects members have been working on that Procurement Leaders has documented this year.
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Time to reshape procurement to meet a changing landscape and new board expectations
As we move into another year of extreme uncertainty, the glare of CEOs, boards and wider executive committee members will become even more focused on supply-side risks and opportunities.
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3 Ways Businesses Are Adjusting To Inflation Without Raising Base Prices
For some business owners, the quickest solution to this issue is to raise prices for all their products and services. Most Americans have already seen the cost of certain items tick higher and nearly 80% expect that trend to continue for the next six months, according to a recent Gallup poll. But if you're looking to avoid causing sticker shock for your customers, while at the same time reining in business expenses, here are a few strategies that may work well.
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4 Shortages Predicted To Persist In 2022
Whenever the calendar turns from December to January, predictions are as plentiful as resolutions; it seems like everyone has them. While no one knows what the future holds, when it comes to the economy, the prognosticators are largely in agreement: Supply chain disruptions will continue well into 2022. Here are a few materials that experts suspect will be difficult to come by over the next 12 months. Something they all have in common is being in high demand:
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Commodity inflation 'inevitable' as Russia invades Ukraine
Oil prices have hit a seven-year high following Russia's invasion of Ukraine and analysts warn supply chain disruptions caused by the conflict could drive inflation up to 10%.
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Placing ESG Top of the Procurement Agenda
“People, Profit and Planet” – the new mantra for our professional community. There is no question about it. Environmental, social and governance (ESG) have moved up the agenda for procurement professionals. And they are very well placed to make a positive contribution, being the ones in charge of deciding where organizations spend their money.
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13 Sustainable Procurement Tactics That Drive Real Results
Two-thirds of the average company’s environmental, social, and governance (ESG) impact comes from suppliers. Between 70-90% of a company’s carbon footprint comes from its supply chain. Those of us in the procurement world have the opportunity to drive real change, and with that opportunity comes the responsibility for action. Now if like most people, you’re saying, “sustainability is a huge global issue, how am I supposed to make a difference?” you’ve come to the right place. Here are 13 sustainable procurement tactics that will drive real results.
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The Business Case For Sustainable Procurement
There are plenty of reasons why you should want to focus on ESG and sustainable procurement. The most obvious is that it’s the right thing to do. We all live on Earth together and businesses have a massive impact on both the environment and people’s well-being. Unfortunately, sentiment doesn’t pay the bills. Or at least that’s what your CFO will say. It’s the age-old battle that procurement must fight. Making the business case. Whether it’s a new technology, headcount or sustainable procurement strategy, you have to be able to make the business case otherwise nothing is going to happen. Luckily, ESG has jumped up the agenda at many companies, but if you’re still trying to take that next step, here’s exactly how I would make the business case for sustainable procurement.
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10 Critical Questions to Make Procurement a Competitive Advantage
To elevate procurement and become a visible source of competitive advantage for the business, leaders need to ask the right questions. Every organization will have its own mix, but here are ten to get the ball rolling. Once you have an answer to these it will create a framework to guide your procurement function into a true value-adding and strategic role.
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Three Common Supplier Diversity Challenges to Address Today
Organizations globally are prioritizing supplier diversity and ramping up efforts to work with minority and women-owned businesses. Here are the three most common obstacles and steps you can take today to overcome them.
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