Up to 80% of revenue earned by Fortune 500 companies goes directly back to procurement costs. $1 savings in procurement costs can have the equivalent of $5 in revenue increase.  Further, an average of 18% supply chain costs  exist that increase overall product and service cost without adding commensurate value.  Tackling this mammoth opportunity today is a global community of procurement professionals that landed in the profession by accident, don’t have an education in procurement, get trained by those with the same liabilities, and often started their career as a purchase order expediter – watching their responsibilities grow over time without any of the corresponding skills necessary to match. Procurement Talent will continue to be one of the most critical assets of any organisation as they invent and reinvent their business strategies. Building a future ready procurement workforce is easier said than done, especially in light of the World Economic Forum reporting a change in 42% of core skills required to perform existing jobs in the year 2022. This demands organisations to take a clear look at the skill gaps that they must close to future proof themselves against any and all potential disruptions. 

With the intention of driving this discussion forward, Competitors View is excited to bring to you the second episode as part of an ongoing series of ‘Procurement Talent Talks’ that will delve deep into how building the right partnerships can bring in the skilled entry level workforce that companies actively seek. Some of the key points that will be covered include:

 

To share your views on the event or give any feedback please write to support@competitorsview.com