Strategischer Einkauf im Mittelstand: Nachhaltigkeit, Lieferantenvielfalt und Digitalisierung mit eSourcing

Procurement in Medium-Sized Businesses: Trends and Topics in 2024

Summary

Digitalization in strategic procurement is becoming increasingly essential to manage the complexity of procurement in medium-sized businesses.

Trends such as sustainability, supplier diversity, and risk management are transforming the way procurement professionals work and offer enormous potential for increasing efficiency.

Despite these opportunities, many companies still use traditional tools like Excel and email to manage their procurement activities, leading to inefficient and lengthy processes.

The implementation of innovative solutions like eSourcing software and agile procurement strategies can help overcome these challenges and increase profitability.

Strategic procurement plays a crucial role in the profitability of medium-sized companies, especially in the manufacturing industry. Approximately 50-80% of a company's value creation is attributed to the supply chain, making strategic procurement extremely important. In this article, we will look at the key focus areas and solution trends in strategic procurement for 2024 and how they are set to revolutionize the industry.

Key Focus Areas in Strategic Procurement 2024

In strategic procurement, several key topics have gained increasing importance in recent years and will continue to be a focus in 2024. These topics include sustainability in procurement, as well as supplier diversification and risk management.

Sustainability and Eco-friendly Procurement

Sustainability is gaining increasing importance in strategic procurement. Companies are under pressure to improve their environmental footprint and implement sustainable procurement practices.

Benefits of Sustainable Procurement

Reputation and Brand Image: Environmentally-friendly procurement management can enhance corporate image and attract new customers.
Cost Savings: Efficient resource utilization and waste reduction can lead to cost savings.
Regulatory Compliance: Sustainable procurement helps to meet regulatory requirements and minimize legal risks.

Supplier Diversity and Risk Management

Supplier diversity is another trend in strategic procurement. Past supply chain crises have demonstrated the importance of resilient supply chains. Therefore, companies are increasingly focusing on a diverse supplier base to minimize risks and make their supply chains more robust.

Benefits of Supplier Diversity

Risk Mitigation: A broad supplier base reduces the risk of shortages and dependencies on individual suppliers.
Innovation and Competition: Greater diversity among suppliers fosters competition and can lead to innovative solutions.
Negotiating Power: With multiple suppliers, companies can negotiate better terms and conditions.

Solution Trends in Strategic Procurement 2024

In addition to the key focus areas, there are several technological and methodological trends that are revolutionizing strategic procurement. These solution trends include digitalization, particularly the adoption of eSourcing, the use of Artificial Intelligence (AI) and increased automation, as well as the implementation of agile procurement strategies.

Digitalization and eSourcing

Digitalization, specifically eProcurement, has fundamentally transformed procurement in recent years. Procure-to-Pay solutions in operational procurement are already standard in many companies. However, in strategic procurement, traditional tools like Excel and email are still often used to manage procurement activities. With the increasing complexity of supply chains and the multitude of suppliers to manage, these tools are simply no longer sufficient. This is where eSourcing solutions, such as Procuras.io, come into play.

Benefits of eSourcing

Time Savings: Automated processes reduce manual effort and significantly accelerate procurement processes such as price inquiries, benchmarking, and supplier queries.
Cost Efficiency: Specific data analysis and transparency enable better identification and utilization of cost-saving potentials.
Increased Transparency: All data and information are centralized and accessible at any time, facilitating decision-making.
Risk Mitigation: Comprehensive supplier assessment and monitoring enable early detection and mitigation of risks.
Cross-Team Collaboration: eSourcing solutions promote collaboration between different departments, thereby contributing to agility.

Artificial Intelligence (AI) and Automation

Another important trend in strategic procurement is the use of Artificial Intelligence (AI) and automation. These technologies offer significant potential for increasing efficiency and managing the complexity of the procurement process.

Applications of AI in procurement

Data Analysis: AI can analyze large volumes of data in real-time, providing informed decision-making foundations.
Forecasting and Planning: AI enables precise predictions that optimize demand planning.
Supplier Management: AI-based systems can automate supplier evaluations and continuously improve them.

Agile Procurement Strategies

Another significant trend in strategic procurement is the adoption of agile procurement strategies. These approaches are based on flexibility, rapid adjustments, and close collaboration between various departments within a company.

Benefits of Agile Procurement Strategies

Flexibility: Agile procurement management allows companies to quickly respond to market changes and unexpected events.
Faster Decision-Making: Shorter decision-making paths and iterative processes enable companies to act faster and more efficiently.
Improved Collaboration: Close collaboration between development, procurement, production, and other departments enhances information flow and efficiency.

Challenges and Solutions

Despite the numerous benefits offered by digitalization and the use of AI, many medium-sized enterprises still face significant challenges. The transition from traditional methods to modern solutions requires not only technological investments but also a shift in organizational culture.

The Role of eSourcing Solutions

Here, eSourcing solutions like Procuras.io come into play, specifically designed to assist medium-sized enterprises in digitalizing their procurement processes. With eSourcing tools, you can:

Automate Processes: Reduce manual effort in price inquiries and supplier queries, freeing up time for strategic tasks.
Create Transparency: Maintain an overview of your supply chains at all times and make informed decisions.
Cost Reduction: Harness the potentials of digitalization to optimize your procurement costs.
Cross-Team Collaboration: eSourcing solutions promote collaboration within teams and between different departments, thereby enhancing agility.

Conclusion

Strategic procurement is constantly evolving, offering numerous opportunities for medium-sized enterprises to enhance efficiency and optimize costs. Solutions like eSourcing software enable you to modernize your procurement processes and successfully meet future challenges.

FAQ (Frequently Asked Questions)

Question: What is strategic procurement?

Answer: Strategic procurement refers to the long-term approach where companies develop their procurement strategies to reduce costs, minimize risks, and increase efficiency.

Question: What are the benefits of digitalization in strategic procurement?

Answer: Digitalization enables automated processes, increased transparency, better data analysis, and cost savings.

Question: How can eSourcing help?

Answer: eSourcing software automates the procurement process, enhances transparency, and helps companies make informed decisions.

Question: Why is AI important in procurement?

Answer: AI can analyze large volumes of data, provide accurate forecasts, and enhance supplier management, leading to more efficient and informed decision-making.

Question: How do I start with digitalizing my procurement processes?

Answer: Start by taking stock of your current processes, identify areas with potential for improvement, and choose suitable digital solutions like eSourcing tools to implement them.

About Procuras.io

Procuras.io is a leading platform for digital procurement solutions, specializing in helping SMEs optimize their procurement processes and reduce costs. With our innovative eSourcing software, companies can quickly and efficiently compare bids, strengthen supplier relationships, and increase transparency in the procurement process. Visit our homepage to learn more about how Procuras.io can support your business.