Reducing spend, supporting enterprise stability and assuring reliable sources of supply are all top priorities for procurement departments in 2021. “Unprecedented business disruption forced procurement organizations to refocus on supporting critical business operations and supplier relationships, resulting in a pivot toward spend cost reduction and supply assurance,” The Hackett Group details in its 2021 CPO Agenda.
Based on its recent CPO survey, the company says that 41% of procurement professionals believe conditions will stabilize by the second half of 2021, but 36% predict it will take longer. As a result, The Hackett Group predicts that the pandemic crisis and related fallout will “continue to shape procurement priorities in 2021 and beyond.”
