Amid challenges, procurement leaders remain focused on steadying supply chains

Supply chain procurement professionals have never had it more difficult. With budgets tightening and constant disruptions such as raw materials shortages and geopolitical concerns, not to mention weather and labor challenges, it seems that to run an efficient and cost-effective procurement organization, one must be a magician on par with Harry Potter.

But there are some steps that leaders can take to help manage through these disruptive times. And it starts with being smarter, says Omer Abdullah, co-founder of The Smart Cube.

“To plan and execute effective global procurement strategies amidst potential conflicts, companies should adopt an intelligence-driven approach,” he tells Supply Chain Management Review. “This involves actively monitoring geopolitical situations, diversifying supplier portfolios, and conducting thorough risk assessments at various levels, including suppliers, categories, and the macro environment.”

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