Grow in Any Economy: The New Role of Procurement

What does it mean to turn the procurement function into a “growth engine” for the business?

Historically, procurement has been just as vital to the business as it’s been transactional and staid in nature. But that won’t fly anymore: Today, procurement needs to serve as a dynamic “growth engine” for companies, even in the most difficult times. On this episode of The SupplyChainBrain Podcast, Editor-in-Chief of SupplyChainBrain, Bob Bowman, discusses a new and more expansive role for procurement with Chris Costello, Executive Vice President of Strategic Accounts with Amazon Business. The idea, she says, is to combine traditional spend discipline and administrative “gate-keeping” with the qualities of innovation, sustainability and supplier diversity. Time for companies to elevate procurement and acquire a “holistic” view of spend patterns.