Beginning in the early 1990’s procurement evolved from a transactional function to an important component of the overall business process. The introduction of technology tools, strategic sourcing processes, and the formation of cross-functional responsibilities created an opportunity for procurement to participate, and in some cases even control, important categories of spend for corporations.

As we emerge from the most recent economic downturn, procurement did not continue its evolution, and when old methods failed to solve new problems, the strategic importance of this function began to wane. Over the last two years procurement outsourcing is on an unprecedented rise, while simultaneously functions like HR, marketing, IT, and others are retaking control over categories they had once surrendered to their peers in procurement.

In this session attendees will learn;

• The importance of functional alignment to maintaining relevance
• The next evolution of procurement supplier relationship and supply risk body, and
• What revenue-generating role procurement can play within their organization.

Contributors: CorporateUnited
Categories: Regional Roundtable
SRC Type: Procurement Operations