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What is Procurement Transformation?

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by Beroe Inc,
12 October 2022

What is Procurement Transformation?

Procurement has emerged as an essential aspect of a business and is undergoing constant evolution. Herein, it becomes important to understand what procurement transformation is. Per the definition, procurement transformation was a tactical business operation with a keen focus on cost reduction but now has become a strategic function aimed at adding more value to the business. 

Another definition of procurement transformation specifies it as organizational change management focusing on strategies that usher in long-term enhancements to supply chain management and procurement processes.

In the present context, procurement is believed to have strategic importance for a business by helping it achieve sustainable results by overhauling legacy processes and practices. Procurement transformation has gathered considerable pace in modern times due to the element of uncertainty brought in by the pandemic.

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