Procurement Supplier Innovation in 2021

Executive Summary

Far from simple cost-management, supplier selection encompasses factors that have a direct impact on the organization. The tools and strategies procurement uses to manage suppliers help the organization address challenges related to supplier risk, business continuity, and resilience in the face of disruption.
According to ProcureCon’s report Procurement in the Driver’s Seat, 66% of procurement professionals felt that they were challenged by a lack of general buy-in over how much influence their group should be able to exercise in this area. As procurement seeks to solidify their influence and grow their relationships with key business stakeholders, exploring how they can develop a network of innovative, high-performing suppliers is a key step

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