In the first Inside Procurement episode of 2020, Omer Abdullah talks about one of the biggest procurement trends – delivering value beyond savings.
What does this mean for procurement and how can the function deliver on this particular agenda?
Savings, as we all know, is and will remain one of the core focus areas of procurement. And while dollar saving will always be important, there is also a growing need for the function to deliver beyond cost savings, cost containment and cost avoidance – which is driven by multiple factors, including the increasing sophistication of procurement.
Progressive procurement in 2020 and beyond, is not only about working towards traditional cost savings goals, but also about upping the ante and delivering real tangible material value – which can happen in three ways:
- Enhancing revenue through supplier-enabled initiatives
- Accelerating the path to delivery
- Sustainability and enhancing positive social impact
Watch the full video to learn this and more.
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