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Podcast: The Long-Term Quick Fix: Confronting & Overcoming Talent Shortages in Procurement

Recently, Pierre Mitchell, Chief Research Officer for Spend Matters, and David Pastore, Senior Vice President at Velocity Procurement, met to discuss how procurement can address the talent shortage that the global market currently faces. Velocity Procurement is a consulting services firm that helps procurement improve their financial results by investing in talent, processes and technology.

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2023 Procurement Predictions

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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Inflation: The More Things Change, the More They Stay the Same

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

6 Considerations to Elevate Procurement’s Value

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

Case Study: Leveraging Strategic Sourcing to Enable Organizational Growth

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

Case Study: Delivering Strategic Sourcing Savings for Senior Community Living

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

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Advisory

Advisory

Bringing together applied intelligence and superior expertise in a way that puts people first. Combined with our process and technology capabilities and key partnerships, we help make procurement work better, faster, and with more resilience.

Digital Transformation

Digital Transformation

Procurement organization are evolving and a significant part of that evolution is the use of technology. The vast technology landscape can present a challenge to procurement decision-makers. This is where Velocity Procurement can step in and add value.

Spend Management

Spend Management

Strategic sourcing teams of all shapes and sizes rely on spend analytics to provide detailed spend visibility that inspires procurement insight and action. Conducting a formal spend analysis is the foundation of driving any long-term cost savings initiative.

Managed Services

Managed Services

Organizations are finding that there are more efficient models that reduce organizational strain and maximize time and value. To do this, many organizations are looking to out-task non-core procurement related activities.

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