The procurement function is changing as the global landscape between 2020 and 2023 experienced significant changes, leading to the rise of a new economic era marked by volatility, regionalized supply chains, AI dominance, and talent scarcity. Looking ahead procurement leads face three critical challenges: evolving into end-to-end value entrepreneurs, exploring innovative avenues for value creation, and establishing an agile procurement operating model. This involves a shift in focus towards value creation and resilience, along with a redesign of the upstream value chain, effective management of downstream margin, and the promotion of socially responsible sourcing practices.... To learn more about the growing importance of the procurement function read this interesting McKinsey article #valuecreation #procurement #future
