Procurement is more than savings!

In an article from Bain & Company, it’s said that ”Procurement leaders aren’t just the engine behind third-party cost management, but also sustainability initiatives, supplier diversity, supply chain resilience, and more.”

Fortune 500 companies will oversee the purchase of more than $5 trillion in goods and services in 2022, all while navigating unprecedented inflation and supply shortages. Despite these headwinds, CEOs, CFOs, and boards expect procurement organizations to create and manage not only traditional value, including savings, but also an evolving array of value beyond savings.

CEOs, business customers, and finance teams are putting pressure on CPOs to identify, quantify, and realize value in ESG, supplier diversity, and supply risk mitigation initiatives. ESG & Supplier Diversity are one of the priorities procurement teams are focussing on.

If you too would like to introduce ESG and supplier diversity solutions into your supply chain, please contact us.

Whole article; https://www.bain.com/insights/procurements-evolving-mandate/