McKinsey & Company’s benchmarking report on procurement reveals that companies with advanced digital capabilities and integrated sustainability goals significantly outperform their peers, with a 40% higher maturity score in strategy and analytics. The report highlights ongoing challenges faced by procurement teams, exemplified by the automotive industry’s disruptions during the pandemic. Key priorities for the future include end-to-end margin management and investment in data-driven decision-making. High-performing organizations excel across multiple maturity dimensions, especially in sectors like automotive, where competitive sourcing is crucial.

Source: https://www.scmr.com/article/what-is-the-future-of-procurement