Authored By: Mickey North Rizza
It seems everyone has a list of predictions these days, from the Mayans to the financial analyst. I figured I would throw my two pence in and then grade myself at year’s end. Here are my top 5 Procurement Predictions for 2013.
1. Procurement Value Contribution will improve for most organisations as new metrics on economic value add are tied specifically to Earnings per Share, Basis Points, Profitability and Return on Investment.
2. Procurement will spend more time on strategy and business process and methodology to support the business strategy; procurement effectiveness will become a measure.
3. Predictive analytics will become a common practice for Procurement executives to thwart supplier and raw material issues.
4. Procurement will become more strategic by applying analytics and what-if scenario planning to mitigate supplier risk; resulting in a healthier supply base.
5. Procurement as a value solution for business profitability and more return on investment resulting in greater shareholder value will become a new trend businesses will quickly capitalise on; solution providers will see a surge in new business because of this new found visibility.
Do you agree with my predictions for this year? What are your top 5 procurement predictions for 2013?