Today’s economy: What is the impact on procurement and sourcing and how is it different from the past?

Since 1900 the U.S. has weathered 13 recessions – with the worst economic disaster being the great depression which lasted from 1929 to 1939.

Except for the above ten years, the average recession lasts 17.5 months. A full business cycle averages 4.7 years. In other words, we have been here many times before; how or why is this time around different?

What were these economic events’ impacts on procurement and sourcing in the past? How will this predicted recession following the Pandemic and current geopolitical uncertainty change our policies and practices going forward?

Take 5-minutes to complete the following survey to share your thoughts on what the future holds for our profession.