In collaboration with Procurement Leaders, we take a look at the practical measures procurement professionals can take to keep their operations running smoothly, and even to turn economic adversity to their advantage.
Procurement teams are more anxious than ever before about the potential of huge macroeconomic shifts to undermine their strategies and compromise their operations. The uncertainty surrounding Brexit, the rise of tariff-led policies from influential trading nations, and the growth of currency and commodity pricing volatility all create significant risk in the supply chain.
In this context, procurement teams must create contingency plans while anticipating disruption and building extra resiliency into supply chains.
"Against a landscape of macroeconomic and political uncertainty, forward-looking chief procurement officers are taking concrete, practical and pragmatic steps to mitigate risks."
This report addresses how procurement organizations should be approaching these risks and what CPOs can learn from them, including:
- What are the most significant dangers to procurement functions in the current uncertain global economic climate?
- What high-level recommendations should procurement functions take onboard to minimize risk exposure in this global economic climate?
- How should sourcing strategies be re-engineered to minimize the operational and financial dangers associated with mounting global economic tension?
- How are procurement teams redefining risk management strategies?
- In this overall context what should be actioned? Specifically, what steps should be taken in contracting management? And in strengthening supplier insurance indemnification and limitations of liability?
- How can procurement professionals use this backdrop of macroeconomic uncertainty to enhance their own influence within the business?