📈Procurement trends for the future
This ProSource edition shares the latest insights into procurement's digital transformation and where is it going next.
Hi there!
Trust you're doing well.
It's been 3 years since Procol was officially founded. From a team of 2 to 70 people and managing a little over $500M of spend - we surely have come a long way. I'm full of gratitude to our team, customers, investors - and everyone who ever believed in us.
If you enjoy our weekly newsletter, please forward it to your peers. They can subscribe here.
Procurement Insights
✔️ Tracking the evolution of procurement and where it is going next
Procurement has slowly transformed from an expert cost controller into a major creator of business value, without many people outside of the function recognizing it until very recently. The disruptive events of 2020 and 2021 provided the perfect opportunity for procurement teams to step into the spotlight and show what they’re capable of today. In this article, I’ll walk through procurement’s decades-long evolutionary journey, look at the powerful position the department has taken up today, and examine what might be next for leading procurement team.
🤔 In procurement are you a hunter or farmer?
Procurement professionals can be described as either "hunters" or "farmers" in their approach to the role, an event was told.
🏆 Leading procurement’s digital transformation : Three steps to success
A recent survey Globality conducted, in partnership with SIG, found that only 15% of respondents believe that they are “best-in-class” or “industry leaders” when it comes to the digital transformation of their operating models, and an eye-catching 50% describe themselves as “laggards.” Globality and SIG discussed these findings at an executive virtual roundtable – below are three key takeaways for procurement leaders who want to successfully transform their operating model.
🔗 Unicommerce is helping companies streamline supply chains
SaaS solutions for supply chain management are essential enablers in an increasingly technology-driven retail sector. They are helping both online and offline businesses meet customer expectations in a fast-evolving omnichannel retail environment. In an interview with BusinessLine, Kapil Makhija, CEO, Unicommerce, a Snapdeal and Softbank-owned Supply Chain SaaS company, speaks about the growing role of SaaS solutions and the trends that are redefining contemporary retail.
📚 New inventory technology can tackle supply chain shortages
How can retailers resolve supply chain shortages? New inventory management solutions can help to bridge this as well as allowing telecom retailers to provide a unifying customer experience. We probe this further and look at one technological example
💸 Use of supply chain finance doubles
Two-fifths (38%) of companies used SCF tools to ensure early payments every month in 2021, up from 19% in 2018, according to research by technology firm Taulia. SCF schemes allow a bank or financial institution to pay a supplier’s invoice early for a fee, and then buyers must pay the SCF provider the full invoice on the payment due date.
🏅 How Tesco is rewarding suppliers for green performance
Tesco has become the first UK retailer to offer sustainability-linked supply chain finance (SCF) to its suppliers to “encourage more suppliers to sign up to science-based emissions reduction targets”.
April Event Calendar
🌎ProcureCon Indirect Virtual Summit, The Virtual Summit & Expo Exclusively For Procurement Innovators, May 17 - 18, 2022 | 9:00 am PST | 12:00pm ET
🌎2022 Supply Chain and Procurement Awards Event by Supply Chain Now Wed, May 18, 2022, 7:30 PM - 9:30 PM (your local time), online
🌎It’s All About Talent: Trends in Global Procurement and Supply Chain HR , Event by PT Patra Mitra Konsulindo, Wed, Apr 20, 2022, 6:30 AM - 8:00 AM (your local time), online
🌎Procurement Executive Networking Lunch (Tennessee), Event by Scanmarket, Tue, Apr 19, 2022, 10:00 PM - 11:00 PM (your local time), online
🌎Medical Device: Monetize Software to Fill the Supply Chain Revenue Gap, Event by BeanStock Ventures, Apr 14, 2022, 11:30 PM - Apr 15, 2022, 12:30 AM (your local time)
🌎CLOCKSPEED - XLRI's Operations and Supply Chain Conclave, Event by XLRI ExPGDM, Sun, May 29, 2022, 11:00 AM - 10:00 PM (your local time)
🌎Leadership, Diversity, and a Resilient, Sustainable Supply Chain,Sat, Apr 30, 2022, 8:30 PM (your local time)
Opportunities
💡Manager - Supply Chain, Ola Foods Bengaluru, Karnataka, India On-site
💡Manager - ADM Supply Chain, Flipkart Bengaluru, Karnataka, India
💡Manager, Digital Supply Chain, Amazon Bengaluru, Karnataka, India
💡Procurement Manager, Procurement Manager, Amazon Bengaluru, Karnataka, India
💡Procurement Manager, JLL Gurgaon, Haryana, India On-site
💡Procurement Manager, CBRE Mumbai, Maharashtra, India On-site
💡Manager - Supply Chain-ANA004012, Genpact Bengaluru, Karnataka, India On-site
Brief introduction
Hi, I am Gaurav Baheti, the CEO of Procol. We help companies transform their procurement process to deliver higher cost savings, reduce turnaround times, and improve visibility. We currently work with 60+ enterprises and manage $500M+ spend.
This is our weekly newsletter where we share crisp insights, hottest jobs, and exciting events in procurement globally.
Ping me at gaurav@procol.in to chat or connect on LinkedIn.