The world of procurement & sourcing has undergone tremendous changes over the past couple of years. It is now time to look at what 2021 has in store. Learn about the Top 7 mega-trends that’ll rule sourcing & procurement 2021: https://aavenir.com/top-7-trends-shaping-the-future-of-sourcing-procurement-beyond-2021/

1. 7 Trends
Shaping the Future of Sourcing
& Procurement Beyond 2021

2. Challenge
If the mantra of 2020 was “uncertainty,” the term of
2021 will be “adaptability”.
As economies recover, some sectors will see a
return to pre-2020 operation. But for sourcing &
procurement teams, adjusting to the “new normal”
will take some time.
What does all this mean for your sourcing &
procurement operations?
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3. 7 Trends
Shaping the
Future of
Sourcing &
Procurement

4. #1 Strengthen Sourcing &
Procurement Resilience
Companies are creating better transparency by
working with suppliers to gain information about
their next-tier suppliers and their upstream value
chains.
Business-continuity planning has taken on a new
meaning, designing contingencies not just for a
single supplier plant to go offline, but for entire
countries to be inaccessible.
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5. #2 Enhance Sustainability
With clearly defined business and vendor
requirements, your vendor selection team would
be able to easily find suitable vendors, who can
deliver the service /product that you wish to
outsource.
Ask your team to compile a list of possible vendors
but remember that not all vendors would meet
your requirements.
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6. #3 Supply Chain as a Service
(ScaaS)
More businesses will adopt supply chain as a
service (ScaaS) models, outsourcing the likes of
manufacturing, logistics, and inventory
management.
It is expected that as supply chain management
teams become smaller, companies will have a
team of skilled individuals focused on strategic
decisions to improve the supply chain.
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7. #4 User-Driven Artificial
Intelligence & Digitization
Procurement teams are designing and delivering
intelligent bots to complete most run-of-the-mill
procurement tasks with minimal human
intervention.
From managing large-volume orders to running
repetitive sourcing events, from negotiating with
suppliers for low-value items to updating inventory
lists, AI will undertake all these activities, thus
putting mundane tasks on auto-pilot mode.
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8. #5 Integration with Circular Supply
Chains
Soon to replace the linear supply chain,
organisations who adopt the circular supply chain
approach stand to gain from reduced costs in the
long term, reduced waste and reduced impact on
the environment.
A key driver in the adoption of this approach is
stricter regulations when it comes to recycling and
waste disposal, as well as potential incentives for
sustainable efforts made.
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9. #6 Localisation of Suppliers
Adoption of local suppliers is gaining prominence
due to pandemic like Covid-19.
Organizations have started to venture and look at
the local suppliers – specially suppliers under
Small or Medium Scale and even some regional
groups (such as local tribes, etc.). The idea is to
encourage diversity of thought and participation.
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10. #7 Future-Ready Organization
Adopting an agile operating model could help
procurement functions scale up or down quickly to
respond to sudden supply challenges. This will
require attracting new talent and up skilling the
existing talent.
Leading organizations are adopting virtual training
methods and gamified digital tools to engage
experienced workers and develop their talent. The
winning procurement organizations will adopt a
continuous learning culture as a way of life.
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11. “
The more we automate, companies will
speed their supply execution speed and
gain more business is the path forward.

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