
The Impact of Procurement on the Bottom Line
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According to Gartner, “Procurement’s influence naturally increases during a recession. For example, immediately following the Great Recession in 2009, 85% of procurement leaders reported having significantly more influence over business decisions than prior to the crisis”.
Procurement professionals are making dozens of decisions every day - assessing vendors, creating contractual terms, and evaluating risk, technology implementation, and stakeholder management. Procurement is often forced to manage conflicting objectives and make important choices under pressure, while always being cautious to balance risk.