Technology & Innovation

Chain reactions: building value in procurement through digitalisation

June 13, 2022


Chain reactions: building value in procurement through digitalisation

June 13, 2022

Pooja Chaudhary

Senior Manager

Pooja is a Senior manager with Economist Impact. Pooja leads both internal and public research programmes for foundations and bi/multilateral organizations in need of policy advocacy, strategy and analysis in the domain of social and international development. Her recent research has focused on technology and public policy, the intersection of technology and education, and exploring the role of sustainable agriculture in economic development in South Asia, including the issues in agriculture transformation. She is currently leading the Asian Development Bank supported Digital Education Readiness Index. Pooja has worked with PwC India and Bharti group to support multilaterals and governments in the design, implementation and evaluation of international development programs on issues including livelihood generation and education and skills development. She holds a master’s degree in business management from Xavier Institute of Management (XIM) and a bachelor’s degree in economics from Delhi University.

This paper aims to determine the challenges to business continuity and profitability for organisations through the lens of procurement; ascertain the steps taken by procurement professionals to secure supply through this difficult operating environment; and explore the impacts of trends such as regionalisation, localisation, reshoring/ nearshoring and the environmental, social and corporate governance (ESG) agenda on their activities.

The research provides a deep dive into how procurement is changing as a result of the forces at work, and what some of the catalysts in this shift are.

Between January and February 2022, Economist Impact conducted a global survey of 430 C-level executives across various organisational functions, including chief financial officers (CFOs), chief operations officers (COOs), chief procurement officers (CPOs) and chief supply chain officers (CSCOs). Its objective was to explore how their businesses and industries are transforming procurement to meet existing and emerging challenges amid disrupted supply chains, rising costs and growing uncertainty, as well as trends regarding the future of procurement to ensure continuity and optimisation.

Respondents were asked to share how their approaches to procurement have changed in the short term, the drivers of the digitalisation of procurement processes and how these issues factor into their organisations’ long-term sustainability strategies.
The paper draws upon insights from the survey and is supported by interviews with external procurement experts and practitioners. The report is written by Siddharth Poddar, edited by Pooja Chaudhary and Harsheen Sethi and sub-edited by Amanda Simms. 

Economist Impact wishes to thank the following experts for their participation:

  • Andrew Brightmore, executive director, Foodbuy Australia & Compass Group Australia
  • Phil Ideson, founder, Art of Procurement 
  • Marcus Kutzner, partner, sourcing and procurement lead, Deloitte
  • Chris Shanahan, chief procurement officer, Thermo Fisher Scientific
  • Peter Smith, managing director, Procurement Excellence

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