A Look at 2017 Procurement Trends from Source One Executives
Willow Grove, PA (January 3, 2016) – The forward-thinking strategic sourcing executives from leading cost reduction firm Source One Management Services share their insights and expectations for 2017 supply management and procurement in new downloadable, 7 Procurement Trends to Watch in 2017. Continuing the annual tradition, members of the strategic sourcing services provider’s leadership team reflect on the past year in supply management and share how they think the procurement tide will move over the upcoming year.
“2016 was reflective of the shift we’re seeing in the supply management and procurement industry,” explains Steven Belli, CEO of Source One. “Beyond taking steps to reduce costs, future-minded companies are taking more strategic action to optimize their supply management operations from the ground up. The 7 Procurement Trends to Watch in 2017 touches on the procurement strategies shaping the industry as well the different approaches to supply chain talent management, procurement performance metrics, and other tools to garner stakeholder support.”
Over the last year, prime economic conditions have enabled companies to seek competitive advantages by further investing in their supply chain management operations. For some companies, this means establishing a centralized procurement organization that didn’t previously exist. For more mature organizations, optimizing supply management operations consists of total procurement transformation through holistically evaluating current procurement talent management practices, procurement business processes, performance metrics, and tools – and developing actionable roadmaps to improvement. In 7 Procurement Trends to Watch in 2017, Source One’s executives share some of the motivating factors prompting best-in-class companies to take action within their procurement organizations, the solutions such as improved talent management and procurement metrics they’re seeking, and advice for addressing the modern challenges facing the strategic sourcing function.
Source One’s cost reduction team is looking forward to an exciting 2017. The upcoming year marks Source One’s 25th Anniversary providing procurement services. In addition, Source One returns to the Institute for Supply Management’s Annual Conference as featured speakers and exclusive sponsors of Exec IN – the premier, procurement executives only sub-conference. This year, ISM2017 takes place in Orlando, Florida and will host keynote speakers Former Prime Minister of the United Kingdom David Cameron and Former US Secretary of State Colin Powell.