The (new) e-procurement trends of 2023

Purchasing is more strategic than ever for companies. But, in a context of upheaval, and with organizations in the throes of digital transformation, what are the new e-procurement trends for 2023?

The global geopolitical context is disrupted by conflicts and major threats. These tensions have repercussions on purchasing conditions through the energy crisis, inflation and shortages. While those in charge of supplier relations are particularly affected by the current challenges, they need to measure and anticipate risks as effectively as possible in order to protect themselves and limit the imbalance with their suppliers. The situation is creating major imbalances in supplier relations, with 85% of purchasing managers claiming that their suppliers are in a position of strength, according to a recent study. This figure remains relatively stable compared to last year (82%), but is more than double that of 2021.

Adapting to a changing environment

Purchasing departments are faced with a number of structural issues, and 81% of purchasing departments are already experiencing high inflation on the part of certain suppliers. This situation has two major short-term consequences: 87% of purchasing departments are renegotiating their contracts, and 56% are having to revise their prices. On the other hand, purchasing departments must also take into account the risk of seeing some of their suppliers disappear due to soaring energy prices. It is therefore crucial to integrate this issue into supplier risk management with an appropriate strategy.

More than ever, purchasing departments need dedicated solutions to manage their business and adapt quickly and easily to a constantly changing environment. From e-procurement to e-sourcing solutions, digital tools enable companies to meet numerous challenges, such as improving the quality of procurement processes. E-procurement software can also standardize and automate numerous processes, while simplifying the management of purchases from suppliers. The main objective for purchasing departments is to improve their monitoring by centralizing and securing data, as well as facilitating the management of calls for tender. Ultimately, e-procurement solutions help to make purchasing more agile and efficient, by promoting better expense management. An indispensable solution for maintaining the supply chain and ensuring a solid link between the company and its suppliers.

Securing supplies

Securing supplies has been a major challenge for Purchasing departments for several years now, all the more so with the Covid crisis and a tense geopolitical context. According to an AgileBuyer report, almost 3 out of 5 companies will experience critical shortages this year, although this figure is slightly down on the previous year (-9 points), demonstrating the importance of this issue. Nearly two-thirds of Purchasing Departments consider the continuity and security of supplies to be as important a concern as last year. To address this issue, more than a quarter of companies have drawn up a specific purchasing plan, particularly for electronic component supplies, in an attempt to anticipate future global changes.

Relocating production

Relocation is a major trend for most Purchasing Departments. There are two reasons for this renewed interest: securing supplies and reducing environmental impact. But “Made in France” has also become a criterion of choice for Purchasing Departments, as more and more of them see it as an important strategic orientation. Relocation has thus become a fundamental trend, affecting both consumer society and the B2B sphere.

Tools’ Digital adoption

The digital transformation of companies affects all departments. Purchasing departments are no exception, and are becoming increasingly digital to optimize their processes, particularly in data analysis, purchasing data consolidation, collaboration tools and task automation. By 2023, many companies are planning to train their teams in data mining and analysis. Getting the most out of digital tools is a priority for purchasing departments. And, in this area, solutions like Knowmore’s K-NOW can help companies to support their staff in their training in new solutions.

Guide with K-NOW by Knowmore

Our K-NOW solution, a digital adoption platform, guides your teams through the adoption of your e-procurement solution. Tutorials, training… everything you need to get to grips with the system and update it smoothly and easily, with onboarding, feedback, intelligent guidance and more.

Ensuring responsible purchasing

Last but not least, greening your supply chains to guarantee responsible purchasing that complies with environmental standards. Indeed, more and more companies are setting CSR or sustainable development objectives, and numerous labels are certifying that these ambitions have been achieved. To obtain these labels, all aspects are taken into account, such as measuring suppliers’ carbon footprints or respecting payment deadlines.

To adapt to the new trends of 2023, purchasing departments will have no choice but to continue their digital transformation by opting for innovative solutions. With tailor-made offers for all profiles, Knowmore can support you in your transition and help you get the most out of your software.

Train with K-STUDIO by Knowmore

K-STUDIO is an e-learning authoring software that lets you create 100% realistic, interactive training content to master your e-procurement solution. More flexible and cost-effective than a training environment, these pedagogical capsules enable hands-on training in the classroom, at a distance or via e-learning.

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