We’ve made it through 2021, and 2022 is already 8 percent complete. Crazy? That is, I think we may all be a bit crazy after the insane year we just finished. To keep supply chains and organizations moving while facing longer lead times, slower transit times, and demand outpacing supply, procurement professionals have been solid. They have sought out alternative suppliers, looked for better and faster ways to evaluate suppliers, and tried to improve supplier relationships over video meetings.
One message has come through the disruptions loud and clear: your supply chain and your suppliers are critical to your organization’s success. And therefore, procurement is the key to the future.
With that in mind, I want to share two thoughts:
- Priorities in procurement for 2022
- How to drive effective transformation in procurement
2022 PRIORITIES IN SOURCING AND PROCUREMENT
I’ve just completed my annual survey into priorities and challenges across the supply chain. For sourcing and procurement, the top area of focus for this year is vendor/supplier relationship management (SRM). And it should come as no surprise that it was the same in 2021. That focus is followed by automation and digitization (to increase speed and decrease errors) and procure-to-pay as an end-to-end, streamlined process. But what is it people really want to know about SRM? Per APQC’s research, they are most interested in identifying and embracing best practices, conducting benchmarking, and standardizing processes.
In this on-demand webinar, Leveraging Supplier Relationships to Drive Resilience, Kate Vitasek, Bonnie Keith, and I offer guidance how to build, strengthen, and structure supplier relationships that allow for flexibility and collaboration.
To build on the body of knowledge APQC already has in SRM (see this collection: Next-Generation Supplier Relationship Management), I’ll be conducting additional new research this year, so feel free to reach out to me at [email protected] to express your interest in participating in surveys, quick calls, and various other opportunities.
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Supplier relationships: can they scale at the volume, quality, and speed you need?
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One competitive advantage to keep in mind in 2022: your procurement people. In Preparing Procurement Professionals: Your Organization’s Competitive Advantage, we examine skill gaps and look at how leaders can take action to solve this talent challenge in this vital function.
DRIVING EFFECTIVE TRANSFORMATION IN PROCUREMENT
A few months ago, I hosted a webinar with Trey Robinson and John Francis (partners and supply chain co-leads from ScottMadden) that examined how to effectively transform procurement. They tackled challenges that continue to plague procurement and the procure-to-pay (P2P) process including unclear roles, ineffective uses of technology, and poor customer service.
Check out the following articles for an overview of the webinar and articles that explore their guidance in more detail.
- Driving Effective Transformation in Procurement
- Governing Procure-to-Pay as an End-to-End Process
- How to Diagnose and Fix Problems With Your Procure-to-Pay Model
- How to Design and Implement a New Procurement Model
You are always welcome to search APQC to see our latest procurement content published in the Resource Library.
To continue the conversation, follow Marisa on Twitter at @MB_APQC, or connect with her on LinkedIn.