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Procurement in SMEs: focus topics and trends in 2024

published on
28.3.2024

In 2024, procurement will be fundamentally transformed by digitalization and increased compliance requirements. This development is significantly changing procurement processes and forcing procurement managers to adapt new technologies and strategies. This report is based on an extensive supplier survey with over 300 participants, which provides insights into the current trends and challenges in procurement. The results reflect the need to make procurement processes efficient and responsible and show how companies are responding to these changes.

1. digitalization in procurement: use of AI, automated data analysis and cloud technologies to increase efficiency and transparency.

2. compliance requirements: Adaptation to legislation such as the Supply Chain Duty of Care Act; focus on ethically responsible and transparent supply chains.

3. pricing policy and supplier relationships: Renegotiation of prices and contracts, taking into account the costs of technology and compliance.

4. sustainability and social responsibility: integration of sustainability aspects and social responsibility into purchasing strategies.

The report sheds light on how companies are adapting their procurement processes to meet the challenges of digital transformation and increasing compliance requirements. It provides insights into innovative approaches used by procurement leaders to increase efficiency and manage risk. It highlights the role of advanced analytics and AI in accurate procurement decision-making and the strategic advantage of a sustainable supply chain.

Download report now

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