As a lead-up to my Beyond Trends: Transformational realities redefining procurement panel on March 12th, I reached out to people in the procurement world asking them a simple, and somewhat straightforward question; in your opinion what do you believe is or will be the single most significant development that will impact procurement in 2019?
In this third post in the series, David Loseby – who will be one of the panelists that will join me on March 12th, shares his take on what will have the most significant impact on the procurement world based on his conversations and interactions with members of the CEO/CFO community.
Here is what David had to say:
1. Tough and uncertain markets will mean lower investment and a continued focus on cost saving for procurement as an unashamed but necessary demand.
2. Those that move into the space of the value architect will be more highly valued and represent the premium resource that will drive the shift in traditional thinking:
* Contracts that address not just the cost savings (and yes they are needed) but address sales (reciprocal business to drive top line and profitability);
* New products that are exclusive and drive additional sales;
* Embracing collaborative co-creative value through better use of contract compliance models that adopt the practices established in Behavioral Science through nudges versus penal policies.
In short, relying on mandates and traditional processes and models are being left behind, and the progression to more value-based professionalism will accelerate over 2019 and create a clearer differential with the traditional approaches and practitioners.
In the next installment in this series, author, educator, and architect of the Vested business model Kate Vitasek will tell us why she believes Tariffs will have the greatest impact on procurement in 2019 and beyond.
In the meantime, be sure to reserve your virtual seat for the Beyond Trends: Transformational realities redefining procurement panel.
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Procurement Insights 
Posted on February 6, 2019
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