Following another unpredictable year in Procurement with a lot of uncertainty in demand, supply & prices we have entered 2023 with a feeling of numbness. And now what?
The war is ongoing & so is the energy crisis. Also, China has decided to join the rest of the world following 3 years of lockdown. Cost of living has literally gone through the roof & consumers are cautious & skeptical. The feedback so far from suppliers is for as long as there are no further dramatic changes of a global scale, they feel that certainly Q1 and maybe even Q2 -if we are lucky- will be fairly stable. What is particularly interesting is that this view comes through strongly from both Europe & the Far East.
On the other hand, what this journey taught us through uncharted waters is that we need to be prepared & engineer ways to safeguard normality.
In a global level the main trends that are coming through for Procurement are:
-Sustainability, across the board environment & society.
-Supply Chain Agility & Resilience, through strong relationships with suppliers across all tiers.
-Continuous analysis & training in system development for better visibility & accuracy in strategic decisions.
With all that in mind, let’s hope for a productive 2023!