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Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study

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Ivalua Spend Management Insights [ivory-search] Procurement in the Age of Uncertainty: 4 Lessons from the New Forrester Study May 9, 2023 | | Innovation by Alex Saric In today’s age of uncertainty, procurement departments are under tremendous pressure. Furthermore, their rapidly shifting nature requires a new level of agility.

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Case Study: NXP Semiconductors

Procurement Academy

The challenge Following the appointment of NXP’s Chief Procurement Officer, Jeff Wincel , a new global strategy was implemented that included a pillar dedicated to ‘people and success’. As part of this important pillar, a professional development program was created to transform the procurement department.

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Is Your Procurement Data Fit for Purpose?

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Every year, the International Association for Data Quality Governance and Analytics (or IADQGA) runs their Data Quality and Governance study. The 2021 report marked the fifth time they have completed this study and released the results. The post Is Your Procurement Data Fit for Purpose? appeared first on Ivalua.

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86% of UK businesses face barriers developing digital skills in procurement

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A shortage of digitally savvy talent, and a lack of training for technical and soft skills, hinder digital procurement initiatives. Additionally, over half (55%) of UK businesses say that digital skills in procurement are less advanced compared to other departments. Challenges in hiring digital skills in procurement.

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Case Study: Ewellix

Procurement Academy

After implementing several new procurement processes, Group Director Purchasing, Nicolas Robardet, identified a number of competencies which required development within the team. The results Ewellix launched the training to their procurement and supply chain team in early November 2022 and have already seen results.

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Why Procurement leaders must act now to tackle the digital skills shortage

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The role of procurement has transformed over the last decade, from cost-cutter to a vital ally that can inform and enable business strategy. COVID-19 has only served to cement the procurement department’s status as a key stakeholder. Procurement transformation has widened the digital skills gap.

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Inefficient Procurement processes are costing UK businesses almost £2m per year, reveals research

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At the same time, two-thirds (66%) of businesses admitted they were still reliant on such processes as part of their Procurement or supplier management function. At the same time, two-thirds (66%) of businesses admitted they were still reliant on such processes as part of their Procurement or supplier management function.