Procurement 2017 Big Trends & Predictions

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Business continues to change at an accelerating speed, as enterprises and their suppliers are forced to adjust to new, disruptive technologies, intensified competition, and a marketplace that continually resets its expectations. As a result, business requirements have become more diverse and dynamic, lead times are shrinking and getting shorter, while the definitions of performance and success have become moving targets. 2016 was a historic year, with multiple factors pushing the procurement profession into new and exciting territory. 2017 promises more of the same… with an added layer of uncertainty. In today’s “age of innnovation” with the continued expansion of global networks and the “Gig Economy,” procurement executives must work harder to keep pace in 2017 in order to drive continued, strategic value to the greater organization and prove that this function remains at the core of true business agility. The year ahead presents great challenges for the modern Chief Procurement Officer, sourcing executive, category manager, and other members of the procurement operation. The year ahead will present big challenges to the modern Chief Procurement Officer and every other contributor to a procurement operation.