Revolutionizing Indirect Procurement for 2020
There’s a new vision for indirect procurement, enabled not just by new technologies but also by a radical new understanding of the value indirect procurement can generate.
Since 2011, indirect spend has been growing by an estimated 7 percent per year globally. Even so, many organizations fail to give indirect categories the attention they deserve.
Common challenges are apparent across industries. Spending is often fragmented among multiple locations, business units, and categories, making it hard to identify and capture enterprise-wide savings opportunities. Leaders of indirect-procurement functions typically lack sufficient clout within the organization to obtain the technology and talent they need. And most companies do not have mechanisms to monitor indirect categories and reflect their performance on financial statements.
To overcome the challenges, companies need a new vision for indirect procurement that combines cutting-edge tools and practices, as well as traditional approaches to category management, to address fundamental issues relating to processes, capabilities, and data. Using this coordinated, technology-enabled approach, global companies are already achieving marked improvements that allow them to capture the untapped value of indirect procurement.
Simply put, evolution is not enough. To succeed in the 2020s, companies need a revolution in indirect procurement.
We will be discussing the following questions during the chat:
1. What are some of the common challenges that companies are facing in their indirect procurement?
2. How companies can bring revolution in their indirect procurement in order to succeed in 2020.
3. What makes procurement the new vision for indirect procurement so powerful?
4. What measures procurement leaders should take to make their organization’s procurement model ready for 2020 and ahead?
Log in your Twitter account, Join us @CPOInnovation #TSC2019 and tweet your views on Revolutionizing Indirect Procurement for 2020 with other Industry leaders at 3pm-4pm on 21st June.
Join us @CPOInnovation #TSC2019 Tweet Chat, which will be a precursor to the Tech Supply Chain Conference, Exposition & Awards 2019 on the 19th – 20th September 2019 in Mumbai.
For more information, Please contact:
Content Marketing Manager
Board +91 0120 42969 52, Ext-4374
CPO Innovation – Strategic Intelligence to Supply Chain