The rise of cutting-edge, disruptive technologies is changing the face of procurement.
Geopolitical Instability Among Top Concerns for Procurement and Supply Chain in 2017
This past year was an eventful one, as far as geopolitics is concerned – the European refugee crisis and growing unrest in the Middle East, coupled with China and Russia’s assertive stance on regional issues, caused widespread political instability across several nations. Subsequently, the balance of power in our world is shifting, with the United States’ political leadership and dominance in global markets being increasingly challenged by Russia and China.
As detailed in GEP’s annual Procurement Outlook report, 2017 will be a year of increased change and greater supply chain risks for global corporations. The impact of these trends is not lost on business executives; 84 percent believe that overall instability will have an important impact on their global businesses. The ability of enterprises to develop and implement capabilities to effectively manage these risks will determine winners and losers in the global economy.
To understand what these events mean for global businesses and, more specifically, for procurement and supply chain teams, read the GEP Procurement Outlook Report 2017. (Complimentary Access)
In its journey of maturity, procurement has gone through dramatic changes, evolving from a tactical function to a digitalized, strategic process.
Today’s supply chain needs to be flexible and agile, capable of responding quickly and positively to sudden changes — and that cannot be achieved t