641: Rising to the Challenge: Driving Procurement Excellence in 2023 w/ Dipan Karumsi and Len Prokopets

"We have the opportunity to do more, to shape the role of the procurement, shape the expectations that the C-suite has of procurement, define what procurement can do, and link that to the other capabilities that procurement has. That's what a good procurement roadmap should do." - Len Prokopets, Managing Director, Procurement and Outsourcing Advisory at KPMG

Procurement has experienced unprecedented change and disruption in the past several years. Procurement operating models and priorities continue to evolve as new trends take hold, including economic turmoil, ESG, supply disruptions, shifting workforce dynamics, new regulatory requirements, and technology innovations such as generative AI.

Procurement must navigate these changes to help the broader organization adapt, innovate, and deliver.

To help their clients understand this changing environment and benchmark their strategies and investment priorities, KPMG recently conducted a survey of 400 global procurement leaders. The study captured insights on procurement's current challenges, goals, and priorities as well as the path forward.

In this episode, based on an AOP Live session, Dipan Karumsi, Principal and Leader of Procurement and Outsourcing Advisory at KPMG, and Len Prokopets, Managing Director, Procurement and Outsourcing Advisory, discuss key market insights from the survey with Philip Ideson and Kelly Barner.

Their guidance for forward-looking procurement leaders includes:

• The key investments that procurement leaders are making in response to today's challenges and priorities
• What savings levels procurement organizations are targeting going forward
• How procurement budgets and headcount are likely to change
• Emerging technologies being adopted and implemented

Links:

• Dipan Karumsi on LinkedIn
• Len Prokopets on LinkedIn
• Watch Again: Rising to the Challenge: Driving Procurement Excellence in 2023
• Subscribe to This Week in Procurement