In prosperous economic times, companies turn to procurement to lead value-oriented projects that leverage the best supplier relationships for a competitive advantage. In tough economic times, they turn to procurement for help preserving the bottom line and keeping costs low, so a choice doesn't have to be made between profit margins and customer retention.
But what should procurement prioritize during the complex times we find ourselves in today?
Most procurement teams are working to drive value and ensure cost efficiency at the same time, relying on market intelligence, timing, and instinct to deliver results across multiple sets of priorities. In this webinar, the team at Art of Procurement and ProcurementIQ's Embry Davis highlight how procurement can lead efforts to manage costs without trimming out the value in the process, if it's possible for companies to keep their ESG commitments despite increased cost consciousness, and which categories of spend present the best opportunity to drive savings through renegotiating contracts.
You can find the team at Art of Procurement on LinkedIn or access their collection of procurement resources on their website.
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