I was recently invited to contribute a guest blog series to UK-based Procurement Leaders, and it’s now on line. Check it out here;

http://www.procurementleaders.com/blog/my-blog–carlos-alvarenga/procurement-in-2025-risk-management

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The Introduction:

Recently, one of our multinational clients asked me: “What will procurement look like in 2025?” In preparing my response to the question, I had the opportunity to talk with CPOs, colleagues and academics about the major change drivers and how they might impact the function over the coming decade. The procurement of a corporation’s materials and services is, one could argue, the most complex business function in 2014.

 CPOs and their procurement teams have to balance a staggeringly complex landscape of pressures and requirements to execute their jobs at the highest level: from business pressures to contain costs, to legal pressures to comply with regulations, to social pressures to source ethically.

In such a daunting landscape, it is difficult to imagine new challenges emerging, but that is exactly what the experts I spoke to expect to happen during the next decade.

 I have been asked to share some of the highlights of what I learnt with the readers of Procurement Leaders, and so over the course of the next few weeks, I will present some of the most interesting ways the procurement function might evolve in the next decade.

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Posted by Carlos Alvarenga

Carlos Alvarenga is the Executive Director of World 50 ThinkLabs and an Adjunct Professor at the University of Maryland's Smith School of Business.

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