We’ve experienced many external trends, ranging from economic uncertainty to the impacts of global conflict, that have shaped the way companies have had to adjust to navigate their procurement journeys.  Those trends have also had a significant influence on what is to come in 2023.  Here are five trends that deserve serious consideration as we go into the new year:
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After enjoying decades of modest inflation, it’s no wonder the recent rapid acceleration of inflation is a hot topic of conversation at dinner tables and water coolers around the world.  Unsurprisingly, it’s at the center of attention of supply chain and procurement blogs and news sources as well.  While inflation seems to have been discussed ad nauseum, I feel compelled to point out that – for procurement professionals – not much has changed. READ MORE

In 2023, procurement organizations will continue the push to elevate procurement. Teams will need to juggle traditional priorities such as cost optimization and risk management with emerging trends and additional considerations. To elevate procurement’s value, teams will need to possess qualities such as flexibility, agility, and resiliency. Six key considerations for procurement organizations in 2023 include: READ MORE

“Velocity Procurement supported us for over 2 years and helped us take our procurement organization to the next level” READ MORE

“The exceptional sourcing expertise and high-degree of project efficiency made achieving our goals possible” READ MORE