Just as supply chain is becoming more of a global practice, so is procurement. And according to KPMG’s “25 in 25” study, procurement executives are seeking new models and new ways of working. For the study, 25 senior chief procurement officers and executives were asked to answer these three questions:
- What will procurement look like in 2025?
- How will this evolution occur?
- What are the critical success factors required to achieve this vision?
Here are some highlights of what they said:
- Procurement can provide a good deal more value to the business than it does today.
- Organizations that position procurement as a core business function will be able to drive a more competitive lever for change, and adopt more readily to the rapid forces of change in the current global environment”.
- Collaboration will be the key to this evolution.
- Chief procurement officers (CPOs) need to be seen as more than cost savings enablers and will need to perform financial analysis and demonstrate financial expertise that enables effective communication with the chief financial officer (CFO).
- To minimize risks and increase negotiation power, procurement professionals should promote collaboration with preferred vendors.
What will this mean to effective talent management and recruitment in the years leading up to 2025? What employee skill sets will companies begin looking for?
Companies will want individuals who possess a balance between sourcing expertise and business awareness. The ability to take a consultative approach to stakeholder engagement will be key.
And in order to stay ahead of the game, companies in the industry will need to do two things: encourage colleges and universities to adapt their programs accordingly, so that professionals coming into procurement understand the new role they’ll play in business, and work with recruiters that have solid experience in, and knowledge of, the procurement industry—because they will be informed about industry challenges and will be able to assist employers in finding the right candidates to tackle these demands.
The professionals at ZDA Supply Chain Recruiting are supply chain practitioner experts. We understand the business from the inside out. We have experience in planning, logistics, procurement, distribution, transportation and manufacturing. Not to mention our contacts in the industry ensure that we are always up to date on what is needed to succeed and evolve. If you are interested in working with a supply chain recruiter in Philly, contact ZDA today to discuss how your organization can grow and succeed through hiring the right people.