New year; new goals? If you’re wondering what’s happening in the procurement industry or keen to hear what we think 2023 has in store, we sat down with August Consulting Managing Director Tracey Shearer and asked her about her key focus and insights for the procurement industry in 2023.
1. Capability / resourcing
Like most industries, procurement’s success is dependent on its capability, so building and attracting talent still has to be top of the list. We need people who can be agile, resilient and bring a fresh perspective to the industry.
2. Data gold
Data, oh how we love data! There’s so much opportunity to progress leaps and bounds in this space. The ability to collate information from multiple data sources and bring meaningful insights via interactive dashboards and use data to measure performance is invaluable. And, fortunately, we have access to data analyst guru in-house, Dilan Rathuwadu, Senior Consultant, who does just that – and more – for our clients.
3. Digital, digital, digital
Digitalisation, systems and processes are key to procurement success. Investing in systems that allow for greater efficiency, automation and integration are ideal, and embedding a change management strategy as part of that process is vital.
Nope, savings is not a dirty word. In fact, with many organisations facing significant financial pressures through increased wages and inflation, it’s imperative. How can you find cost-efficiencies within your procurement strategy? By planning, budgeting, delivering and measuring a strong pipeline of procurement opportunities.
5. Making a difference
It might sound cheesy, but making the world a better place is high on our agenda. One way to do this is by building your ESG strategies with procurement at the forefront of your organisation's buying decisions.
We hope you’re starting 2023 with a fresh perspective and new procurement goals. We’d love to hear how your procurement teams are making an impact.
Our team of procurement and supply chain experts is keen to hear from you.