13 Popular Procurement Trends in 2023 & Beyond

We bravely walk into 2023 with a sense of hope and energy.

New Year, New Opportunity.

As the saying goes; What got you here, won’t get you there.

To capitalize in the New Year, Procurement will need to continue its transformation in people, processes & technology. Change requires knowledge, and for that reason, we’ll be looking ahead towards the trends that are likely to dominate the procurement world over the coming months. During our trendspotting said last year, we said that crisis breeds change, and this continues to be the case. With a couple of isolated exceptions, the world has consigned the pandemic to history.

Yet its consequences continue to be felt in a variety of ways, from skill gaps exposed by the Great Resignation to the impact of escalating fuel costs on supply chain logistics. 2022 was supposed to serve as a year of recovery, and a return to a new normal. Unfortunately, we haven’t had much time to lick our wounds.

Russia’s Invasion of Ukraine has had far-reaching consequences for the personal and professional lives of billions have been challenged during the past year. As a ripple effect of the previous years/months, the state of the global economy hasn’t been in tip-top shape. This will make 2023 a year where a concentrated effort by professional procurement and sourcing teams will be required.