As we emerge from the Covid-19 crisis, a new business normal will develop quickly; Procurement must overcome SEVEN key challenges to succeed.
The current crisis presents procurement with just as many difficulties as others. But it also offers procurement an opportunity. An opportunity to be highly relevant and deliver outstanding value from the supply side. It also offers an opportunity to show how responsive we can be. How in-touch with business needs, as corporates react then rebuild, then seek a greater resilience for the future.
“Never waste a good crisis” Churchill
Yet procurement also face some tough questions: What are we doing now? How will PESTLE forces shape the new normal? How might they change procurement’s work? How do the phases of crisis transition work for procurement? In what way do we have to reassess and rebalance the cost/risk equation of the supply side? How can procurement respond to new stakeholder needs? How do we tackle cost in a new way? Do our systems do the job we need? Which suppliers do we need, which not? But also, what should we stop doing? And, critically, what is our new professional priority – value for money, sustainable procurement or securing supply lines through rebalancing cost & risk?
The recent panic-buying, obvious supply constraints and the living case study of the PPE category have highlighted the key role that procurement can play. Now is our time to play that role.
To succeed, procurement will have to force itself from a transactional purchasing mindset into a genuinely proactive and strategic approach to the supply side.
Along the way, procurement will inevitably have to overcome seven key challenges;
Jonathan Dutton FCIPS outlines these seven crucial challenges and offers some insights for PASA on how procurement can work through them ….
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