Over 40% of procurement professionals believe procurement conditions will stabilize by the second half of 2021, according to a new survey of procurement professionals by The Hackett Group.
They found that reducing spend, supporting enterprise stability and assuring reliable sources of supply are all top priorities for procurement departments in 2021.
However, the report also found that 36% of those surveyed predict it will take longer. The Hackett Group concludes that the pandemic crisis and related fallout will “continue to shape procurement priorities in 2021 and beyond”.
Hackett believes the combination of significant 2020 cost cuts and increased workloads is straining many procurement organizations. On the subject of rising costs of business, it states, “Procurement must continue to deliver its most basic value proposition: spend cost reduction.”
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
Either through the hundreds of manufacturers we purchase directly from, or the international network of component supply-partners offering full product traceability, Astute Safe-Supply, run by sourcing experts and offers a deeper insight into the global components markets.
With real-time access to the latest listings and prices cultivated through several decades of close supplier partnerships, we are able to spot price disparities and leverage product price variances to deliver cost-effective solutions to customers, whilst ensuring a quality, risk-free supply.
For more help with looking at supply chain options, contact Astute Electronics here
