Four trends in manufacturing, and the pressure they place on procurement professionals.
Emerging manufacturing trends are placing new pressures on procurement professionals, and, according to the 2014 GEP Report, demand on procurement professionals is expected to rise. Businesses hope to add strategic value through cost savings and supplier driven innovation, and who better to enact innovation than procurement professionals. Over the past few years, leading organizations have shifted their procurement approach from a cost to a profit centered perspective. The result is a focus on value levers in both strategic and tactical procurement areas. Procurement obviously has much to offer in helping businesses achieve their objectives in an uncertain and multifaceted market but not only are procurement professionals expected to do more with less, they are also gaining responsibility for strategically guiding management decisions.
Through RESCO’s extensive work with procurement professionals, we’ve noticed four current and emerging trends that are changing the face of manufacturing and distribution. Navigating through these initiatives as they relate to individual organizations can be difficult, and we hope to offer insights and solutions that may help. This blog will review the manufacturing trends briefly and address how they impact procurement professionals. In a following blog, we will provide our own solutions for remaining resilient in the face of emerging trends.