Future-proof procurement

Will the procurement organization as we know it exist in the future at all? Digitalization and decentralization could have profound effects.

Procurement professionals around the world stand on the threshold of a new age. The old paradigm of cost reduction and cost efficiency is drawing to a close. New and revolutionary concepts are spinning from the frenzied technological leaps of our time; especially in digital transformation. In this dynamic, complex and disruptive era, procurement leaders and experts the world over are searching for a secure, successful future. Future-proofing can deliver this security – provided the methodological and instrumental requirements this study discusses and proposes are in place.

This study is directed toward future-oriented members of executive boards, chief procurement officers, procurement managers, supply (chain) managers, and product group managers as well as procurement-relevant representatives in science, associations and politics. Other corporate functions like controlling, human resources and marketing can also benefit from the future-proofing best practices presented in greater depth.

Explore in this report four potential scenarios for procurement in the year 2035, developed by Florida State University College of Business and KPMG International:

1. Procurement brings about its own demise
2. Procurement becomes the center of power
3. Procurement disperses
4. Procurement reinvents itself.