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With all of the stimuli procurement is subject to, it should be no surprise that they are continually being shoved from one focus area to another. AI, regulations, market forces, stakeholder expectations, and more put pressure on procurement to adapt to a constantly changing landscape.
While procurement must remain agile, it is equally critical to play an active role in designing the space they fill in the company. Establishing a vision and articulating how that will drive engagement with the rest of the organization allows procurement to meet overarching business needs while retaining ownership over their identity.
In the past, there have been a few operating models for procurement to choose between: centralized, decentralized, and center-led. The same is true for sourcing processes and category strategy frameworks. Now that new approaches have made it possible for procurement to select from an infinite number of unique alternatives, there is no time to waste in seizing the opportunity.
Join us for Mastermind LIVE 2024, where we will feature next generation inspiration for custom operating models as well as sourcing and category strategies that are designed to help your team thrive in a brave new world.