ProSource #9 - Procurement Analysis
How procurement teams discover value from millions of transactions
Good morning!
We started Procol to digitize and optimize procurements for companies of all sizes. Curating ProSource every week enables us to collect the world’s best resources for our readers.
Here are the top stories of the week from the world of procurement.
Do share with your team or LinkedIn if you liked reading this.
Procurement Insights
📊 Disrupting procurement through analytics - In a recent survey, 86% of CPOs said that they lacked the platforms to access good quality data—both internal and external. As a result, as little as <20% of available procurement data is currently leveraged to drive decision-making and action.
💵 How pandemic delayed supplier payments - Days Payable Outstanding (DPO) was the main working capital shift evident in 2020, rising by 7.6%, with typical companies now taking more than 62 days to pay suppliers, an all-time high.
🏎 Porsche tells suppliers to go green or lose contracts - Porsche is to demand 1,300 suppliers use renewable energy to manufacture its vehicle components if they wish to continue doing business with the company as it aims to achieve a carbon-neutral supply chain by 2030.
📈 Digital Procurement on the rise - According to Statista, global B2B online commerce increased 18.2% YoY in 2019, reaching $12.2 trillion. By 2027, that market will hit $20.9 trillion, underscoring the general opportunity for all types of providers of digital procurement services and technology.
🔥 How to reduce delay in supply of goods - Many of today's supply contract terms aren't protecting suppliers through delays. Here are some things to consider when devising -- and updating -- your supplier contract.
💻 Leaders ‘lack necessary data’ for cost-saving decisions - Almost two-thirds (63%) of supply chain professionals “lack the necessary data, platforms and technology” to make critical cost-saving decisions, a survey has found.
You’re Invited
🌎 Procurement in the Spotlight: A New Agenda for a New Era
By Sourcing Industry Group • July 22, 2021 • Registration Link
🌎 Indirect Procurement: Asia Pacific
By Global Supply Chain Council (GSCC) • July 22, 2021 • Registration Link
🌎 Spend management automation: moving procurement from tactical to strategic
By Supply Management • July 29, 2021 • Registration Link
🌎 Procurement Can Move with the Markets: Winning Category Strategies
By SpendHQ • July 21, 2021 • Registration Link
🌎 Managing Cyber and Compliance Risk: 3rd Party Suppliers
By Datashield Security • July 27, 2021 • Registration Link
Opportunities
💡 Evolve Commercial is looking for a Procurement Consultant
Remote • Procurement Consulting • Full Time
💡 Amazon is looking for a Global Category Manager
Bengaluru, Karnataka • E-Commerce • Full Time
💡 Baker Hughes is looking for a Lead Sourcing Specialist
Kakinada, Andhra Pradesh • Oil & Energy • Full Time
💡 Nava Bharat Ventures is looking for a Head - Procurement
Telangana • Manufacturing • Full Time
💡 Unilever is looking for a Operations Manager-Procure to Pay (P2P)
Bengaluru, Karnataka • E-Commerce • Full Time
💡 Maersk is looking for a Category Manager- GSC Procurement
Mumbai, Maharashtra • Transportation • Full Time
What did you think about this edition? Hit reply—share your feedback, insights, and opportunities.
I’m open to discussions—book a slot on my calendar.
Have a great week ahead!
✌️
Gaurav Baheti
Founder and CEO, Procol