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Key Points
  • Ecosystem thinking has become a model for today’s business leaders

  • Procurement leaders should stop thinking linearly and start thinking of interconnected networks

  • Procurement needs an appetite for change that can break down silos

Procurement’s value has progressed significantly over the last two decades. First, it was rubber-stamping spend, then we focused on cost take out, then spend reduction, then category management and planning, and then procurement turned to external forces and addressed risk, regulation, and sustainability. So, what have we learned from this evolution of value creation?

HFS team partnered with WNS Denali on a perspective piece to address these core themes and underlying questions. This point of view shows how procurement leaders from fast-paced organizations apply this ecosystem thinking with their organizations to build more influence and create more value.

In this article, you will learn:

  • Six core traits for the future of procurement as an “ecosystem builder” for the enterprise

  • The three areas procurement leaders must prioritize today to build a stronger ecosystem

  • Advice for CPOs of the future who are recontextualizing and organizational role of procurement

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