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4 Key Trends Reshaping Manufacturing Procurement in 2024

Arkestro

According to Deloitte, the manufacturing industry was in contraction throughout most of 2023 due to challenges like increased lead times, tight labor markets, and rising costs. As we move into 2024, procurement teams continue to face hurdles like supply chain volatility, geopolitical tensions, budget restrictions, talent shortages, and more.

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Innovative Procurement Models: Exploring Different Approaches

Empowering CPO

Organizations are now expected to not only manage cost but also to ensure supply chain resilience, mitigate risks, and contribute to strategic objectives. Key aspects of their approach include: Centralized procurement: This allows Walmart to leverage its buying power, achieve economies of scale, and reduce costs.