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Assignment Task:

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Leading procurement organizations have developed an agenda to deal with disruption. They are moving into the future with a focus on innovation, supplier and customer relationships, and a decentralized operating model to support the business. The CPO agenda for the future of procurement Leading procurement organizations are developing an agenda to deal with disruption. From To Category innovation Disconnected Adversarial Tactical Short-sighted Gatekeeper Cumbersome Spendfocused Manual Bloated Unsustainable Antiquated Unresponsive Innovative with value-add Partners as peers Forwardthinking Transformative Third-party centric procurement Hyper-efficient Dream job Adaptive Value-driven Agile operating model Workforce of the future Insights and analytics Digital procurement platform Ethical procurement Customercentric procurement Self-service Seamless Innovative Ecosystem Lack of transparency One-off Fragmented White-space Integrated Cloud Insightful AI driven Future of Procurement 4 © 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. 4 Third-party centric procurement Third-party centricity focuses on integrated relationships. Today’s supplier interactions are largely tactical and lack any real insight or platform integration. That’s why the future of procurement is dependent on creating a new operating model to support third-party centricity; one which drives supplier and thirdparty performance and relationships to a new level while fostering innovation and mitigating risk. It is not just how a supplier is doing against its contracted service level agreements (SLAs), but also making sure a company’s best suppliers have the ability to bring innovations to the account, resulting in better and more fruitful relationships. In this environment, procurement becomes the relationship broker managing performance and driving innovation, including clearly defined roles for supplier management, procurement, front-line business units, and second-line risk functions. In addition, supplier sentiment helps track how the parties “feel” about each other and fosters deeper and tighter economic and process integration that can be enabled by technology. An organization can benefit from a supplier that treats its customer as a true business partner, and procurement can open that door for suppliers. Are your suppliers in tune with your business objectives? Are you getting what you paid for? Those are both critical questions, and ones in which analytics and data play a role by providing a means for measuring performance, identifying opportunities, mitigating risk, and helping move the organization from being reactive to one that is proactively engaged with both the business and its suppliers. When your supplier conversations are based on facts it can enable you to drive extra value.

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  • Posted on : September 15th, 2019

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