Top 10 Most Influential Leaders in Procurement to Watch, 2024

VOL- 11 | ISSUE -05 | 2024 Naviga?ng Mul?faceted Markets Tips for Effec?ve Interna?onal Procurement From Transac?onal to Strategic The Evolu?on of Procurement Fabio Zonta Group Head of Procurement Raxio Data Centres Top 10 Most Influential Leaders in Procurement to Watch, 2024 Fabio Zonta Driving Innovation and Sustainability in Data Center Transformation

“Procurement is not just about buying things; it’s about building value and relationships.”

Champions of Procurement Excellence The scope of procurement has become a crucial factor in determining organizational success. As companies aim to optimize resources and enhance efficiency, procurement professionals play a critical role in driving value, ensuring sustainability, and managing intricate supply chains. This function, once considered auxiliary, now holds the power to influence strategic growth and operational excellence across industries. The true strength of procurement lies in its ability to innovate, adapt, and build partnerships that extend far beyond traditional vendor relationships. By embracing technology, data-driven insights, and collaborative approaches, leaders in this field are creating solutions that not only address immediate needs but also anticipate future challenges. These trailblazers are redefining standards, implementing forward-thinking practices, and championing transparency and accountability in every transaction. This edition celebrates individuals who have demonstrated outstanding leadership and vision in procurement. Their work showcases a commitment to sustainable practices, resilience in overcoming obstacles, and ingenuity in crafting strategies that align with broader business objectives. These leaders have set benchmarks that inspire the industry, proving that procurement is not merely a function but a cornerstone of organizational success. We are proud to present the Top 10 Most Influential Leaders in Procurement to Watch, 2024, a tribute to the trailblazers who are setting the stage for a brighter, more connected future in procurement. Have a great read ahead! Michael Wayne Editor’s Editor’s Desk Desk

08 Cover story Fabio Zonta Driving Innovation and Sustainability in Data Center Transformation Contents Articles 16 Navigating Multifaceted Markets Tips for Effec?ve Interna?onal Procurement 22 From Transactional to Strategic The Evolu?on of Procurement

Top 10 Most Influential Leaders in Procurement to Watch, 2024 CREDITS Merry D'Souza James Taylor Jamie Carlson Michael Wayne David King Editor-in-Chief Deputy Editor Executive Editor Assistant Editor Visualizer Art & Design Director Associate Designer Senior Sales Manager Marketing Manager Technical Head SME-SMO Executive Business Development Manager Sales Executive Business Development Executives Digital Marketing Manager Research Analyst Circulation Manager Database Management Technology Consultant Company Name Featured Person Brief Jatheen has more than 20 years of experience in senior leadership roles successfully coordinating the supply chain to maximise efficiencies and service levels within South African Breweries and other global companies. Jatheen Desai Procurement Logistics Director AB InBev ab-inbev.com Reva Adams Dave Stonis James Saw John Matthew Patrick Beretta Sandy Madison Barry Nelson Edwin White Steve, Simon Dominique T. Frank Adams Robert Brown Stella Andrew David Stokes The Silicon Leaders Excellence in The Spotlight Fredrik's strong background in business leadership and a keen focus on sustainability and digitalization play a pivotal role in shaping the future direction of Aliaxis, a global leader in the manufacturing and distribution of plastic piping systems. Fredrik Ostbye Head of Aliaxis Next Aliaxis aliaxis.com Simba's strategic approach rooted in identifying and optimizing key profit drivers helps to collaborate with businesses to implement actionable solutions that drive sustainable growth and profitability. Simba M Principal Advisor Five Profit Levers procurement-power.com Lewis Hutson Procurement Implementation Specialist Lewis is an experienced and highly skilled manager of Strategic Sourcing and Procurement with over 10 years of experience analyzing sourcing opportunities and driving strategic, vendor negotiations to achieve business goals. Intersnack Procurement BV intersnackgroup.com Pratik's strong commitment to delivering excellence leads initiatives that not only enhance procurement operations but also uphold Mastercard's commitment to sustainability and value creation. Pratik Patel Procurement Professional Mastercard mastercard.co.in/en-in.html Kavita has set up Novo-K Procurement Solutions with the desire to support its clients’ strategic objectives helping to ensure value for money, achieve sustainability promises and manage supply chain resilience. Novo-K Procurement Solutions novo-k.com Kavita Cooper CEO contact@thesiliconleaders.com November, 2024 Nele Domen Group Indirect Procurement Nele is a passionate team facilitator, and highly experienced in procurement & contracting and internal consulting functions. Puratos puratos.com Follow us on https://www.facebook.com/TheSiliconLeaders/ Fabio's focus on optimizing procurement processes and fostering strong supplier relationships plays a pivotal role in ensuring operational excellence and cost-effectiveness in the data center sector. Fabio Zonta Group Head of Procurement Raxio Data Centres raxiogroup.com We are also available on : Kaleigh combines market insights with innovative approaches to enhance product portfolios, ensuring Syngenta remains at the forefront of delivering value to farmers and the agricultural community. Kaleigh Panther Category Manager Syngenta syngenta.com Copyright © 2024 The Silicon Leaders, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from The Silicon Leaders. Reprint rights remain solely with The Silicon Leaders. Sharon is an experienced executive who excels in building relationships, based on trust and innovative outcomes, while fostering strategic business solutions, always with the member’s best interests at heart. World Commerce & Contracting worldcc.com Sharon Morris Group Regional Head

Fabio Zonta Driving Innovation and Sustainability in Data Center Transformation ““ Fabio Zonta Driving Innovation and Sustainability in Data Center Transformation ““ Revolutionizing Data Centers! T processing, and managing vast amounts of information. With the exponential growth of data, advancements in artificial intelligence, and the integration of Internet of Things (IoT) devices, data centers are expanding in scale and transforming in design and operation. Sustainability and energy efficiency are increasingly prioritized, with innovations in cooling technologies, renewable energy integration, and modular designs setting new benchmarks. This progress reflects the sector's response to the dual environmental impact challenges and the surging demand for digital infrastructure. infrastructure. Revolutionizing Data Centers! T he data center industry is a core of the digital age, serving as the backbone for storing, as the backbone for storing, processing, and managing vast amounts of information. With the exponential growth of data, advancements in artificial intelligence, and the integration of Internet of Things (IoT) devices, data centers are expanding in scale and transforming in design and operation. Sustainability and energy efficiency are increasingly prioritized, with innovations in cooling technologies, renewable energy integration, and modular designs setting new benchmarks. This progress reflects the sector's response to the dual environmental impact challenges and the surging demand for digital he data center industry is a core of the digital age, serving Fabio’s engineering background has equipped him with a deep understanding of the technical intricacies of data center infrastructure, which he translates into procurement strategies of innovation, efficiency, and innovation, efficiency, and Fabio’s engineering background has equipped him with a deep understanding of the technical intricacies of data center infrastructure, which he translates into procurement strategies of sustainability. sustainability. Fabio Zonta Fabio Zonta Group Head of Procurement Raxio Data Centres Raxio Data Centres Group Head of Procurement

domain.““ Data-Driven Decision Making: Engineers often rely on data to make informed decisions. At Raxio, this could involve using advanced analytics to assess supplier performance, predict maintenance needs, and optimize inventory levels. For example, implementing a predictive maintenance system can help anticipate equipment failures and reduce downtime. Automation and Efficiency: Engineers look for ways to automate repetitive tasks. Raxio might use automation in procurement to streamline order processing, reduce manual errors, and improve efficiency. This could include automated procurement systems that handle everything from order placement to invoice processing. Sustainable Practices: An engineering approach emphasizes efficiency and sustainability. Raxio could innovate by selecting suppliers who use renewable energy sources or by designing data centers that maximize energy efficiency. This not only reduces costs but also aligns with sustainability goals. Risk Management: Engineers are trained to identify and mitigate risks. In procurement, this could mean developing robust risk management strategies to handle supply chain disruptions, ensuring that there are contingency plans in place for critical components. Continuous Improvement: The engineering mindset is geared towards continuous improvement. Raxio might implement regular reviews of procurement processes to identify areas for improvement, adopt new technologies, and refine strategies to stay ahead of industry trends. specifications of data center infrastructure. An engineer has a deep understanding of the technical aspects of data center components, such as cooling systems, power supply, and network infrastructure, and this knowledge helps in selecting the most efficient and reliable equipment. • By blending technical expertise with a forward thinking mindset, Fabio continuously drives initiatives that enhance resilience and operational excellence within his Secondly, engineering training highlights problem-solving and analytical thinking that can be essential in strategic planning, where identifying potential issues and developing effective solutions is key. An engineer is often trained to consider cost-benefit analyses, a skill that is valuable in procurement, where balancing cost with performance and reliability is essential. • Fabio Zonta, Group Head of Procurement at Raxio Data Centres, brings a unique perspective to this industry with a leadership style rooted in analytical rigor and strategic vision. His engineering background has equipped him with a deep understanding of the technical intricacies of data center infrastructure, which he translates into procurement strategies of innovation, efficiency, and sustainability. Fabio’s consultative approach and focus on cultivating global partnerships ensure robust supplier networks that align with ethical and operational standards. By blending technical expertise with a forward-thinking mindset, Fabio continuously drives initiatives that enhance resilience and operational excellence within his domain. Then, an engineer has an innovation and optimization mindset approach that encourages continuous improvement and innovation, leading to more efficient processes and the adoption of cutting-edge technologies in the Data Centre. • Finally, an engineer has a clear project management approach, as a Data Centre project often requires meticulous planning and coordination; these project management skills are directly transferable to strategic planning and procurement processes as well. • Sustainable Practices in Procurement Let’s explore Fabio’s journey of leading digital innovation: An engineering mindset might be applied to innovate procurement processes in companies such as Raxio and can generate some initiatives that he put in place in Raxio as well as in past experiences during his career before Raxio. There is a list of tasks that he performed during his career and in which he strongly believes. • Strategic Planning with an Engineering Mindset Fabio believes an engineering background can provide a strong foundation for understanding the technical requirements and

These strategies can help Raxio Data Centre enhance its procurement processes, making them more efficient, sustainable, and resilient. One of the most relevant key points to building and maintaining a strong global purchasing network, especially for modern procurement managers, is the right and consistent approach to sustainability and ethics. Prioritizing suppliers who adhere to ethical practices and sustainability not only supports corporate social responsibility but also aligns the company with global standards and consumer expectations. especially if the company involves more local suppliers than global ones. A good level of knowledge of compliance and regulations present in each country is essential to approach and steer the different legal and regulatory environments, which can be intricate and time-consuming. This requires a well-consolidated attitude to face such challenges without confusion and disorientation. Effective Negotiation and Contracting Strategies Fabio highlights that building and maintaining a strong global purchasing network is crucial for ensuring smooth operations. Developing strong relationships means cultivating trust and open communication with partners, vendors, and suppliers. Finally, there are two remaining topics to keep in mind in constructing a supplier network in a safe and monitored way: risk management and continuous improvement. The Head of Procurement must identify potential risks in the supply chain in advance with an appropriate methodology of risk screening and develop contingency plans to provide resilience to the company against risks such as geopolitical risks, natural disasters, and economic fluctuations. Continuous improvement involves encouraging feedback from suppliers and continuously seeking ways to improve processes, leading to innovations and efficiencies that benefit both parties. Finally, one great challenge that is often undervalued is communication barriers. Language differences and time zone disparities can hinder effective communication and prompt resolution of issues. Regular check-ins and transparent communication help in understanding their capabilities and constraints. Another good approach is diversifying suppliers to avoid reliance on a single supplier. Diversifying the supplier base reduces risk and ensures continuity in case of disruptions. Addressing these challenges requires a proactive approach and an open mindset, including regular communication, robust risk management strategies, and using technology to enhance visibility and coordination. Quality assurance requires strict quality control measures, regular audits, and performance reviews to ensure that suppliers consistently meet standards. Another important step is technology integration, which involves using technology to streamline procurement processes. Implementing systems like ERP (Enterprise Resource Planning) can help in tracking orders, managing inventory, and forecasting demand. Additionally, the latest technologies, such as AI or machine learning, can create an “agile digital workplace.” Leading High-Performing Procurement Teams He is confident and consultative. Fabio is skilled at cultivating strong followership and leading high- performing national, global, and remote teams with an empathetic, collaborative, transparent, and personalized style. He is adept at working across and influencing large, cross-functional teams, favoring active listening and discussion. By focusing on these areas, Fabio can build a resilient and efficient global purchasing network that supports Raxio Data Centres’ operations effectively. Nevertheless, managing global suppliers comes with several challenges. Cultural differences are among the most relevant challenges that can be overcome daily. Different business practices, communication styles, and cultural norms can lead to misunderstandings and conflicts. Negotiation and contracting are essential skills for a modern Head of Procurement. Negotiating favourable terms and ensuring contracts are clear and comprehensive, including setting expectations for delivery times, quality standards, and penalties for non- compliance, assures the company a low risk of litigation, better quality in production and service, and a clear view of lead times. When leading procurement teams, Fabio’s leadership style focuses on a few key principles to build high- performing teams; first, he strongly believes in empowering team members by giving them the autonomy to make decisions and take ownership of their The starting point is to establish a methodology to study the different business approaches in the various countries where suppliers are located,

center infrastructure.““ Embracing Volatility for Predictive Procurement projects. Trusting their expertise and judgment cultivates a sense of responsibility and motivation. In an era defined by volatility, procurement faces an imperative to remake itself with a new vision and new capabilities to help businesses weather coming storms. Procurement is transitioning from assuming the security of supply to optimizing the portfolio in order to mitigate the risk and impact of disruptions. This means developing a robust diversification strategy. According to Fabio, a modern Head of Procurement should be measured mainly on the contribution to EBITDA and less on the old-fashioned way of counting savings. Procurement’s first opportunity is to go beyond cost management to use its deep understanding of the value chain and supply markets. Open and transparent communication is crucial; he ensures that goals, expectations, and feedback are clearly communicated, helping to align the team’s efforts and maintain a cohesive direction. Finally, promoting a collaborative environment where diverse perspectives are valued leads to better problem-solving and innovation. He encourages team members to share ideas and work together towards common goals. Fabio believes an engineering background can provide a strong foundation for understanding the technical requirements and specifications of data By becoming an active strategic partner with the C-suite, procurement can help shape corporate strategy, identify M&A targets, scout early-stage innovations, and enhance cross- functional collaboration for long-term value creation. This allows procurement to actively shape and redesign the upstream value chain by optimizing supplier collaboration to extract maximum value from the supply base tier one and beyond. Accelerating the development of alternative suppliers, creating real-time data transparency, and incorporating procurement data into integrated business planning can identify and moderate the risk of shortages while limiting cost ramifications. By focusing on these principles, Fabio aims to create a supportive and productive environment where procurement teams can thrive and deliver exceptional results. Thriving in the future will mean embracing volatility so that procurement can become a truly predictive function that anticipates price increases, captures downward price movements, and creates value from uncertainty. By better-using technology such as digital twins representing entire value chains, procurement gains real-time insights into cost drivers, enabling agile responses to market changes. Strategies for Continuous Skill Development in Procurement possible to stay updated on the latest trends and network with other professionals. Events like the ISM Annual Conference and the Gartner Supply Chain Symposium are particularly valuable. In this case there is also the opportunity to share his ideas and approach to the procurement process and get interesting feedback from colleagues but also from any component of the relevant market industry. To stay informed and continuously develop his skills in procurement and supply chain management, Fabio follows a multi-faceted approach, including: In this context, procurement can have the greatest impact on end-to-end margin management, not cost control. Joint governance and collaboration among sales, R&D, and procurement can then propel top-line strategies with flexible, adaptable product mixes and vibrant pricing adjustments to maximize revenue and margins. This strategic, cross-functional co- ownership and collaboration ensure that sourcing decisions consider both top-line revenue generation and bottom-line profitability. The first one is to attend Professional Development Courses that regularly enroll and get certifications related to procurement and supply chain management, but not only as he has just got the certification as a Sustainable Procurement Manager, and this certification attests that he is certified to create and manage a sustainable supply chain. In this case, there is also the opportunity to share his ideas and approach to the procurement process and get interesting feedback from colleagues but also from any component of the industry market. With high-value analytics powered by AI, procurement can harness available internal and external data to drive superior sourcing decisions. A multidimensional data pool, using AI for real-time spend analysis and insights embedded into collaborative platforms, can enhance decision making and strategic optimization. Finally, especially in the last years, it has become relevant to stay abreast of technological advancements and innovations so he can explore new tools and technologies that can enhance procurement processes and supply chain efficiency. Achieving procurement’s full potential for lasting impact means accelerating the function’s evolution from a traditional focus on savings to a much broader agenda emphasizing value creation and resilience. That has implications throughout the organization, from strategic development through to sales and marketing. By combining these strategies, he ensures that he remains knowledgeable and adaptable in the field of procurement and supply chain management. Then, he is used to attending Industry Conferences and Seminars where it is

From Concept to Reality Naviga?ng Mul?faceted Markets The Evolution of Electric Vehicles International Procurement Tips for Effective I nternational procurement is a complex and highly rewarding activity that demands thorough planning and strategic implementation. A firm looking to expand its supply chain beyond borders faces unique challenges and opportunities. This article provides tips that will help organizations optimize their international procurement processes and achieve sustainable growth. procurement. In-depth research allows businesses to understand local regulations, cultural practices, and supplier capabilities. A well-informed approach minimizes risks and identifies potential opportunities to build long- term supplier relationships. Assess market trends, analyze competitors, and consider local consumer preferences to guide your decision- making. Take the First Step Toward Procurement Excellence Establish Clear Communication Channels Improving international procurement processes requires evaluating what one does today against what he or she must do in order to become an efficient participant in global supply chains. Consider practical tips and insights outlined below that might drive important results. Effective international procurement thrives on good communication. Ineffective communication is caused by a multitude of factors, such as linguistic differences, time zone differences, and cultural differences. Make all these challenges work to your advantage by investing in your multilingual capabilities, communicating clear expectations, and fostering open lines of communication. Use technology collaboration platforms for easy interaction and decrease miscommunication. Conduct Comprehensive Market Research Understanding the nuances of the target market is important for successful 16 17 www.thesiliconleaders.com | November 2024 |

Prioritize Supplier Evaluation and Vetting Implement Risk Management Strategies Cultivate Cultural Awareness Cultural sensitivity is an essential aspect of working with diverse international markets. Understanding the norms and values of other cultures prevents misunderstandings and allows better relationships with suppliers and stakeholders. Adapt negotiation and communication styles to fit the customs of the country and demonstrate a genuine interest in forming long-term relationships. One must select the proper supplier in order to ensure quality and consistency. Strong criteria to check and evaluate the potential partner would include financial stability, the ability to produce, compliance with all regulation requirements, and ethical standards. Visit the site, ask for references, and conduct transparent negotiations to build trust. Periodic evaluations would ensure alignment with the organizational objectives and lead to mutually rewarding relationships. Global procurement is fraught with many risks, such as political instability, economic fluctuations, and natural disasters. Thus, it is necessary to set up a proper risk management framework to eliminate these uncertainties. Diversify your supplier base, develop contingency plans, and monitor geopolitical developments to ensure resilience. Proactive risk assessment safeguards your operations and minimizes disruptions. Regularly Review and Update Procurement Strategies Leverage Technology for Efficiency The global business environment keeps changing; hence procurement strategies must be reviewed periodically. Success will be sustained through reviewing performance metrics, soliciting feedback, and finding ways to improve. To remain agile and responsive in perfecting your strategy will help keep your organization competitive in dynamic markets. Adapt to Local Regulatory Requirements Technology is a significant enabler in optimizing procurement processes. There are digital tools such as procurement software, data analytics, and blockchain that help create transparency, track shipments, and streamline workflows. This reduces manual errors, improves decision- making with the aid of real-time insights, and keeps us ahead of global markets. Every market has a regulatory framework that governs procurement practices. Violation will result in the incurring of hefty penalties and reputation damage. Keep abreast of import/export restrictions, tariffs, and trade agreements that impact your business. Partner with legal advisors or consultants to be compliant with local laws and help facilitate cross-border transactions. Conclusion Focus on Sustainability and Ethical Practices International procurement is an excellent opportunity for an organization looking to widen its horizons. Businesses can enhance global supply chain operations by developing proper research, effective communication, and sound risk management. Through sustainability and continuous improvement, you will be able to achieve procurement excellence in today's interconnected markets. Optimize Cost Management Sustainability has emerged as a vital concern in buying strategies. Customers and stakeholders more demand environmentally responsible and socially responsive practices. Inclining sustainability in your purchasing approach is also in alignment with global trends and benefits in building brand reputation. Monitor the compliance of ethical values by the suppliers and use environmentally friendly alternatives in supply chains. Another issue with international procurement is a tradeoff between cost efficiency and quality. Conduct cost analysis of the pointed details where expenses can be reduced without compromising on quality. Consider costs in transportation, customs duty, and the fluctuation of currency. Using cost controls will bring more profitability to your work while keeping your integrity intact. 18 www.thesiliconleaders.com

“A great procurement team ensures that every penny spent contributes to long-term success.”

From Transac?onal to Strategic The Evolution of Procurement rocurement has long been P the acquisition of goods and services at the best price. However, in recent years, the role of procurement has expanded beyond traditional boundaries. Today, procurement is seen as a key driver of organizational success, playing a critical role in shaping business strategy and ensuring long-term sustainability. As procurement continues to evolve, organizations are discovering new ways to tap into its full potential. typically tasked with fulfilling orders, maintaining supplier contracts, and managing inventory without much involvement in broader organizational planning. considered a transactional function, focused primarily on While this approach worked in its time, it lacked a forward-thinking strategy. As organizations grew more complex, it became apparent that procurement’s role needed to shift to a more strategic one to keep pace with the challenges businesses faced. Transition to a Strategic Focus The shift from transactional to strategic procurement is a gradual process, driven by the need for greater value and efficiency. As competition intensified, organizations began realizing that procurement could do more than just save costs. Procurement teams were encouraged to look beyond the price tag and consider the long- term value of their purchases. This change also reflected a growing demand for procurement to contribute to organizational goals such as innovation, sustainability, and risk management. If you are looking to elevate your procurement processes and align them with your business goals, this is the time to explore how strategic procurement can make a profound impact on your organization. Traditional Role of Procurement Historically, procurement was centered around sourcing, purchasing, and maintaining supplier relationships. The main goal was to minimize costs and ensure timely delivery of goods and services. The procurement team was often viewed as a support function, handling the necessary transactions but not actively participating in the decision-making process. This transactional approach meant that procurement professionals were Strategic procurement involves aligning purchasing decisions with the company’s broader objectives. For example, instead of simply selecting 22 23 www.thesiliconleaders.com | November 2024 |

suppliers based on price, procurement teams are now considering factors such as supplier innovation, quality, and sustainability. This shift has led to the development of stronger relationships between businesses and suppliers, as well as a deeper understanding of the supply chain and its role in overall success. teams are now working more closely with suppliers, engaging them early in the development process, and seeking input on product design, delivery methods, and pricing strategies. function looks promising. Procurement professionals will increasingly be expected to play a leadership role, providing insights and contributing to overall business strategy. They will need to stay ahead of market trends, anticipate risks, and foster innovation to ensure that the procurement function continues to drive value across the organization. “The best procurement decisions are guided by strategy, informed by data, and inspired by vision.” These collaborative relationships enable procurement teams to work together with suppliers to solve problems, improve quality, and drive innovation. By integrating suppliers into the overall business strategy, organizations can unlock new opportunities for growth, enhance competitiveness, and improve overall performance. Role of Technology in Procurement Evolution The future of procurement also lies in its ability to adapt to changes in the market and the wider business environment. As procurement evolves, professionals must continue to develop their skills and embrace new technologies to remain competitive. Procurement is no longer just a transactional function – it is an essential part of an organization’s strategic direction and overall success. The digital transformation of procurement has played a crucial part in its evolution from a transactional to a strategic function. With advancements in technology, procurement professionals now have access to tools that provide better visibility into the supply chain, automate routine tasks, and optimize decision-making. Technologies like artificial intelligence, data analytics, and cloud-based solutions enable procurement teams to make smarter decisions based on real-time information. Sustainability and Ethical Sourcing One of the major drivers of procurement’s shift to a strategic function is the increasing focus on sustainability and ethical sourcing. Organizations are under growing pressure to adopt environmentally responsible practices and make ethical choices in their supply chains. Strategic procurement plays a key role in meeting these demands by prioritizing suppliers who adhere to sustainable practices and demonstrate a commitment to social responsibility. Conclusion The evolution of procurement from a transactional to a strategic function has transformed the way organizations operate and achieve their business goals. With technology, stronger supplier relationships, and a focus on sustainability, procurement is no longer confined to the back office. As businesses continue to evolve, procurement will play an increasingly important role in shaping the future of organizations. It’s time to embrace this shift and leverage procurement as a strategic asset that drives value, innovation, and growth. Automation also reduces the burden of repetitive tasks such as purchase order processing and invoice management. This not only streamlines procurement operations but also frees up procurement professionals to focus on more strategic initiatives. By harnessing the power of technology, organizations are able to drive efficiency, reduce risks, and improve collaboration with suppliers. By incorporating sustainability into procurement strategies, organizations can not only meet regulatory requirements but also improve their brand reputation and attract more socially conscious consumers. Ethical sourcing is now seen as an essential aspect of procurement’s role in driving long-term value and ensuring that organizations are not only profitable but also socially and environmentally responsible. Building Stronger Supplier Relationships In the past, supplier relationships were often transactional, based solely on the exchange of goods and services for payment. Now, the focus has shifted towards building long-term, mutually beneficial partnerships. Procurement Future of Procurement As organizations continue to embrace strategic procurement, the future of the 24 www.thesiliconleaders.com

SL T The Silicon Leaders Excellence in The Spotlight

Top 10 Most Influential Leaders in Procurement to Watch, 2024

Top 10 Most Influential Leaders in Procurement to Watch, 2024

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