PROCUREMENT PERSPECTIVES
It’s late January, so too late to be wishing each other a happy new year (Happy New Year!), but still early enough to be talking about themes for 2024. So this issue of Proxima Perspectives cuts straight to the issues, starting with our 2024 CPO report and then taking in topics as diverse as Social Value, the Red Sea disruption, procurement's impact on the US economy, and why cost may be a redundant measure for CPOs in 2024.
At the top of this issue, we teased the release of our 2024 CPO report featuring CPOs from NiSource, Albemarle, Primark, Bayer, and the Chief Commercial Officer of the UK Government, talking about their themes and focus areas for 2024. We also highlight our key takeaways:
Our US lead, Kent Mahoney, discusses the role of procurement in leveling up the US economy. The recent setting up of the Supply Chain Council demonstrates the long game to restructure global trade and support key domestic supply chains. Read Kent's thoughts here.
One of the big themes we expect to gather pace this year is Social Value as public and private sector buyers seek to engineer greater economic, environmental, and social value from the money that they spend. This is an enormous opportunity for suppliers to link purpose and profit and for buyers to make a positive difference. But how do you set up an effective social value program that goes beyond the basics?
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On the face of it, this will get many heads nodding as, as a profession, we have long since sought to be measured on additional forms of value. But as Ed Winterschladen writes, there is more to it than that; markets are in flux, making performance on cost very hard to assess. Agree or disagree??
Attacks on shipping in the Red Sea are causing disruptions to supply chains for Europe's manufacturers and retailers due to container ships being rerouted.
Our EVP, Simon Geale, spoke to the Financial Times about potential solutions for retailers, highlighting that while air freight could help to ease delays, it’s only an option for those with profit margins generous enough to absorb the extra cost.
Read more here: https://on.ft.com/47PzWgW