⚡️The Bright Future of the Procurement Market
This ProSource edition shares the latest insights into the future of Procurement Market.
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.
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Procurement Insights
⚠️ 3 Ways to empower procurement and prepare for the next supply chain crises
Today's globalized world means that organizations are more exposed to risk than ever before. From building stronger supplier relationships to proactively mitigating risk, The Smart Cube's Omer Abdullah shares three ways to empower procurement teams to prepare for tomorrow, today.
❓ What exactly is procurement?
“Procurement involves the process of selecting vendors, establishing payment terms, strategic vetting, selection, the negotiation of contracts, and actual purchasing of goods. It is concerned with acquiring (procuring) all of the goods, services, and work that is vital to an organization. Procurement is, essentially, the overarching or umbrella term within which purchasing can be found.”
🔎 Procurement’s carbon transparency problem
Sustainable procurement is no longer a corporate goal but a global one, says SIG CEO and President Dawn Tiura. She outlines the important role that procurement can play in the fight against climate change. The dramatic predictions within the United Nations Intergovernmental Panel on Climate Change Special Climate Report published earlier this year called attention to the consequences of continued carbon emissions, and corporations around the globe have taken notice.
📚 Strategies to manage supply chain labor shortages
Supply chain disruptions continue to drive up prices and lead to a growing shortage of goods across the U.S. and abroad. The Biden Administration has taken many steps over the last few months to address these issues and strengthen the country’s supply chain operations – e.g., creating the supply chain disruptions task force, calling on the National Guard to help ease the stress of disruptions, and extending port hours at the Port of Los Angeles.
⚡Procurement automation - always and often
Digital transformation has been a buzzword in procurement for a long time, but now people are saying it’s not enough. Some level of digital transformation is now expected, and procurement automation is as well. Procurement departments that have not found a way to automate mundane tasks are falling behind, and that trend will only continue as procurement continues to transform.
April Event Calendar
🌎Solving GRC tech procurement for state & local government, event by 6clicks, Thu, May 12, 2022, 2:30 am (your local time)
🌎Supply chain planning USA 2022, May 25–26, 2022 Radisson blu, aqua hotel, Chicago, US
🌎Indirect procurement APAC summit, event by global supply chain council (GSCC) Thu, May 26, 2022, 6:30 AM - 3:30 PM (your local time)
Supply Chain Execution USA 2022,1–2 June 2022, Marriott Marquis Chicago, US
Opportunities
💡Project Supply Chain Manager, GE Renewable Energy Vadodara, Gujarat, India
💡Supply Chain Manager - HOD, Brenntag Mumbai, Maharashtra, India Hybrid,
💡Traceability Supply Chain Manager, Better Cotton New Delhi, Delhi, India Hybrid
💡Associate Director- Procurement, Flipkart Bengaluru, Karnataka, India
💡Head - Supply Chain Finance (Business Partner), Confidential Gurugram, Haryana, India On-site
💡Head – Customer Service, Logistics & Supply Chain, Evonik Mumbai, Maharashtra, India On-site
💡Senior Supply Chain Manager, Novo Nordisk 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.