Procure Pulse July 2020
The Monthly Procurement Insights and Trends Roundup
With 32% estimated decrease in global trade volume compared to 2019, most CPOs feel procurement-related risks have also increased in the last few months. Traditional isolated source-to-pay operations limited procurement functions’ ability to asses and respond to COVID impact. Post-COVID, improving collaboration between sourcing, legal, finance and operations over the digital platform will become vital in developing a future-ready procurement functions. In this July edition of ProcurePulse, we have tried to cover some ways to pivot your procurement function for short-term survival along with long-term resilience.
Around the Web
Explore some useful articles published on leading websites in past few weeks.
Why Investing in Procurement Makes Organizations More Resilient?
As companies focus less on efficiency and more on resilience, procurement becomes central to strategy. Read and HBR article on how can firms develop the resilience they’ll need to strategically and effectively meet this new challenge.
Shaping sourcing and procurement post-COVID - Four key topics to Recover in July 2020
A holistic view of sourcing and procurement risks and COVID-19 in context. Check out an brilliant article by Deloitte on six potential challenges impacting your ability to serve a changing market and a Respond, Recover, Thrive framework to response to them.
Crisis accelerates adoption of legal technology
The opportunity that presents itself is not whether law firms will change, but to what extent they can capitalize on the transition,
Buying legal services and legal tech: When will YOU conquer the legal category?
It clearly pays to involve procurement for buying corporate legal services and legal technology. 17% of the total legal spend is what legal procurement professionals were able to save on average.
Six ways we will have to re-negotiate cost post-crisis
This article looks at why, and suggests six ‘old’ ways we could negotiate cost in the ‘new’ normal in the near future.
Aavenir : Monthly Roundup
Explore some useful articles published on leading websites in past few weeks.
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