Following one more challenging year in Procurement with a lot of uncertainty in demand, supply & prices we have entered 2024 with a feeling of numbness.
Red sea issues that now count more than 3 months have a huge impact in the supply chain leading both to cost significant increases & delivery time increases which creates a mix of availability and cost pressure to the total industry.
On top the global manufacturers have proceeded with maintenance of their facilities that reduced dramatically the availability causes serious shortages for Q1 & Q2. While we are hoping that Q3 will arrive with better news regarding availability and stabilizing the price increases.
On the other hand, what this ride taught us through uncharted waters, is that we need to be prepared & figure out ways to safeguard business evolution.
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 2024!
