Major geopolitical situations, coupled with rapidly changing technological advancements, alongside difficult economic conditions, are here for the medium-term – and certainly for 2024.
Employment rates are above prepandemic levels but highly skilled jobs are exposed to advances in AI. Nearly half (45%) of CFOs flag the implications of Russia/Ukraine conflict as their main source of anxiety; 42% flag a shortage of skilled professionals.
Inflation is easing, but the Bank of England is forecast to need all of 2024 to reach its 2% target. The UK’s Procurement Bill is expected to be enacted at the end of 2024, while the European Commission has adopted the Corporate Sustainability Reporting Directive.
Procurement professionals will need to understand the evolving landscape and provide both operational and strategic support to their organization – this will involve both risk mitigation and opportunity maximization
Procurement Trends for 2024
Challenges to the supply chain such as:
Opportunities shaping Procurement:
Download the whitepaper to see how JAGGAER can help you plan for the year ahead.