Despite the COVID pandemic that has been looming for over two and half years, the outlook for the procurement industry still remains strong. The whole world shifted back to normal and procurement professionals were still looking for ways to fill their procurement requirements without sacrificing too much on quality supplies and a hard-earned budget. There really is no excuse for a strong procurement process.

Sustainability

The year 2022 has so far been the year of sustainability for procurement. Due to the closure of many businesses owing to the economic challenges. Various solutions have been adapted for economic sustainability.

Blockchain

Procurement and supply chain professionals are continuing to experiment with blockchain in the remaining half of 2022. Sensitive information is protected, and supply chain transparency is improving,

Touchless procurement

There is a continued process of transforming procurement from a paper-filled process to a touchless one.

Contingency planning

The world is continuing to hold on and recover from the pandemic in 2022, procurement companies are continuing to hold contingency plans to avoid any forms of crisis during procurement processes.

Huge projects on hold

Huge projects remain to be on hold still as companies are reeling in from the effects of the pandemic. Most companies are still working to get back what they lost when COVID first came out in 2020 and are continuing to do so.

Supply Chains going green

After COVID pandemic, a new challenge arose of being more sensitive towards the needs of Mother Earth. Procuring materials that come from consistently green supply chains.

Workforce Globalization and Challenges

Shortages of employees working in the logistics division continues to be a problem. The root cause is probably the lack of interest in these jobs.