Reinventing Procurement: Unlocking Strategic Value and Mitigating Risk
Section 1: Introduction – What’s Keeping CPOs Up at Night?
As global supply chains face disruption and organizations strive to meet sustainability goals, Chief Procurement Officers (CPOs) are tasked with navigating an increasingly complex landscape. Learn how digital solutions can alleviate the pressure and drive strategic value.
Key Areas of Concern:
- Supply Chain Risk (37% of CPOs prioritize this)
- Labor Shortages (35% of CPOs focus on this challenge)
- Sustainability/ESG (32% of CPOs view this as a priority)
Explore how cloud technologies can help mitigate these risks and enable Procurement teams to remain agile and resilient.
Section 2: Insights for Procurement’s Future
Insight 1: Risk, Risk, and More Risk – How Procurement Plays a Key Role in Mitigating Enterprise Risk
- The growing role of Procurement in enterprise risk management.
- How working upstream with suppliers and addressing compliance ensures a resilient supply chain.
- Digital Solutions: Leverage SAP Ariba® Supplier Risk to integrate risk management into your source-to-pay process.
Insight 2: Beyond Cost Reduction – Procurement’s Evolution to Value Creator
- How Procurement is evolving from cost-saver to value-creator.
- Key focus areas: Demand management, direct spend, and inventory management.
- Digital Solutions: Use SAP Strategic Sourcing and SAP Fieldglass to enhance sourcing, manage contingent workforces, and optimize procurement processes.
Insight 3: From Back Office to Front Office – Digital Technologies Supercharge Procurement
- The shift in Procurement’s role, with digitalization accelerating its impact on strategic decision-making.
- Key Drivers of Digital Transformation: Category management, user experience, and the lessons learned from COVID-19 disruptions.
- Digital Solutions: Integrate SAP Ariba Buying and Invoicing and SAP Business Network to simplify procurement processes and increase operational efficiency.
Insight 4: The Strategic Need for the External Workforce – Is Procurement Positioned to Manage This?
- How Procurement can help manage an external workforce to ensure flexibility and reduce risk.
- Digital Solutions: Gain visibility and manage your external workforce using SAP Fieldglass® Contingent Workforce Management.
Section 3: Moving Forward – Digital Transformation for Procurement Success
- A seamless journey toward a digital-first Procurement function.
- Achieving greater efficiency, compliance, and collaboration with digital solutions.
- Case Study: Learn how Thermo Fisher Scientific successfully navigated supply chain risks by making digital tools a core part of their strategy.
This article is posted at sap.com
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