COUPA
world , such as inflation , interest rates , energy prices , supply chain disruption and geo-political uncertainty – but flips the conversation to focus on the areas a procurement operation can control .
“ When we think about surviving all these external business challenges , we must be able to move quickly and decisively with a high level of confidence to optimise the opportunities that we have no matter what the external environment is ,” he says . “ You have two choices . Either you don ’ t invest and just let that environment impact your business , or you start to think about what the art of possible is .”
He describes the differences between the two as the ‘ margin erosion zone ’. “ Every dollar , every hour , every opportunity you miss , it just simply widens the gap between where you are now and where you should be ,” he adds .
This includes having total oversight of internal and controllable factors like managing third party risk , ESG , compliance , spend management and
12 September 2024