For Chief Procurement Officers (CPOs) and other procurement leaders, 2024 is a changing landscape filled with challenges and opportunities. Staying ahead of the curve requires a strategic focus on key priorities that drive efficiency, resilience, and value creation.

Chief Procurement Officers (CPOs) understand the critical importance of delivering bottom-line savings in achieving operational efficiency and financial success. With 32% of CPOs having identified bottom-line savings as a top focus for this year*, this reflects their strategic mindset and commitment to value creation.

Strategizing and budgeting are essential procurement and category management requirements for shaping a corporate view of categories. But how to begin? 

In today's fast-paced business world, 35% of Chief Procurement Officers (CPOs) see technology as a top priority, as reported in our WBR response report. This shift reflects a move towards smarter, more efficient procurement operations.

Making smart buying decisions is important for any organization 

Hurricane Milton has significantly disrupted supply chains along the Gulf Coast, causing delays in the delivery of critical goods and materials. Key ports faced closures, halting inbound traffic and impacting the flow of supplies essential for various industries. 

Potential safer substitutes for PFAS, commonly known as "Forever Chemicals," include fluorine-free alternatives like silicone-based materials, biopolymers, and hybrid coatings. These substitutes offer similar water, oil, and stain resistance without the persistent environmental and health risks associated with PFAS. Researchers are also exploring biodegradable and non-toxic materials to replace PFAS in industries like textiles, food packaging, and firefighting foams.

The personal care industry is embracing eco-friendly practices by introducing upcycling to its manufacturing process. Turning what would usually be disposed of into valuable parts of new products, upcycling tackles environmental issues and creates economic benefits by transforming waste into worth.

The oil industry is a major part of the world’s economy, but it comes with its own set of challenges like fluctuating prices and strict environmental laws. It’s crucial for those leading procurement to fully understand these issues.