Increasing agility is among the top prioritized goals of leading procurement organizations. It’s on every Chief Procurement Officers’ (CPO) ‘s agenda these days, but what does it mean in practice?
“Being faster in our reactions. Adapting faster to sudden changes or events, and swiftly taking adequate corrective actions.” is what I hear most people say. And they are right – all these are challenging goals, and “agility” captures it well.”
Many factors come into play to enable a procurement organization to be (or become) agile, and I won’t try to cover all of them here. Still, two do stand out for me – and they work best in combination:
- Strategic preparedness
- Relevant Market Intelligence
Having instant access to top marketing intelligence while creating your category strategies is a solid starting point is, as it allows you to take a shortcut towards drawing quality conclusions. And quality strategies do pay off big time in times of volatility.
Being automatically fed information and alerted about sudden changes/ events straight into your strategy creation tool and hence available at your fingertips to swiftly adjust your category strategies and seamlessly translate them into corrective actions is the next level.
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