In recent years, procurement professionals have witnessed dramatic changes to the procurement and supplier management function. Today’s business environment demands that procurement play a more strategic role in the organization with an emphasis on “unlocking the power of procurement” in order to meet the current—and future needs—of the business, stakeholders, customers and yes, even the suppliers.
Moving from good to great “unlocked procurement” requires a significant shift in the optimization of resources, more focus on the supply markets and developing a more opportunistic attitude to secure valuable business outcomes. It is a movement that brings forth greater procurement value contribution with significant business impacts when done well.
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