These webinar notes are from a May 19th event sponsored by GEP and presented by the Hackett Group’s Kurt Albertson. If you are interested in viewing it on demand, GEP has it up on their site, accessible after a free registration.
This event was very ‘man-moment-machine’ in its approach to procurement’s current status and future potential. Albertson opened the event by talking about the facts that net margins have not returned to their pre-recessionary (2007/2008) levels and revenue growth is down. While this sounds like bad news and more bad news, it is really a confirmation that procurement’s search for something new is right on target. Companies as a whole are going to have to make changes in order to be successful going forward. Innovation and expanding into new markets have become the priorities as companies strive to improve their growth rates and potential.