The last two years have been nothing short of turbulent, unpredictable, and shocking for most of the population. The COVID pandemic, followed by the war in Ukraine, inflationary pricing, and volatile markets, hasn’t been easy to digest and is felt by everyone around the globe.
What can Procurement do to overcome these black swan events and return more resilient and efficient?
According to McKinsey & Company’s study on inflation and volatility, there are three specific groups of actions companies need to take to stay ahead of the curve and come out of this situation more resilient and prepared for what’s to come.
The actions and the three main groups are:
- Enable immediate action by creating transparency in setting up and implementation
- Take action to secure supply and mitigate price increases now and in the future
- Institutionalize to prepare for the new normal by building capabilities, tools, and processes to manage uncertainty
How are inflation and volatility affecting your business, and how Procurement operates?
By coincidence, this important topic blends into the discussion at DPW 2022 in Amsterdam: Strategy in times of turmoil – the role of the procurement CEO
At Digital Procurement World (DPW) 2022, Drasko Jelavic, CEO & Founder of Cirtuo, and Cyril Pourrat, CEO & CPO at BT Sourced – will bring this important topic to the table via live stream. The session will combine a conversation on the importance of strategies in a macro-economic environment beset by change with a discussion on how successfully CPOs interpret the role in terms of more traditional CEO remits.