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CHECK-LIST: IS YOUR PROCUREMENT TEAM READY FOR THE FUTURE OF BUSINESS BUYING?

In the future agility and flexibility will be the keys to success in sourcing.

Here are the criteria your procurement team needs to master:

Complete supply chain integration

Are you fully integrated with your organization's operational units, including real-time visibility of their future sourcing needs such as work orders and MRPs?

Are you synced with your suppliers' systems for maximum speed and flexibility when market conditions require sudden changes?

Are you dynamically linked with internal finance and quality control teams to move in a coordinated manner as opposed to sequentially?

Performance based on data

Are you setting your procurement performance metrics according to what your customers value?

Have you instituted a flexible standard operating procedure that swiftly adapts to different SLAs and performance targets?

Do you have a formal process in place to continuously drive optimisation, including digital tools to forecast and test different procurement strategies before you execute them?

Service delivery mindset

Do you offer shared services and hubs of expertise for situations when it is necessary to scale specialised procurement?

Do you have access to on-demand 3rd party services to enable you to immediately respond to shifting customer needs?

Is your operation built to smoothly vary the mix of remote, onsite, and hybrid work?

Digital-first

Do you have a proactive and ongoing process to monitor and adopt the latest digital and online services?

Do you have the ability to seamlessly integrate and efficiently manage a host of online services as part of a comprehensive procurement operation?