APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    Key Procurement Trends for 2021

    The importance of risk management has become clear as businesses continue to learn from the many challenges brought on by the COVID-19 pandemic. As a result, one procurement trend that people can anticipate in 2021 is the prioritization of ris  

    Key Procurement Trends for 2021

    By

    Apac CIOOutlook | Wednesday, September 01, 2021

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    The importance of risk management has become clear as businesses continue to learn from the many challenges brought on by the COVID-19 pandemic. As a result, one procurement trend that people can anticipate in 2021 is the prioritization of risk at all stages of the procurement process.

    FREMONT, CA: The year 2020 was a period of significant disruption for supply chains, and procurement processes are still being impacted. With no clear timeline for a return to normalcy, businesses are now focusing on adaptation and attempting to survive and advance. With that in mind, here are six procurement trends to look out for in 2021.

    Managing Risk Is a Priority

    The importance of risk management has become clear as businesses continue to learn from the many challenges brought on by the COVID-19 pandemic. As a result, one procurement trend that people can anticipate in 2021 is the prioritization of risk at all stages of the procurement process. This should begin with a thorough risk assessment of all procurement processes and the development of contingency plans, such as creating a list of reliable backup suppliers as well as optimizing inventory.

    Focusing on Environmentalism and Sustainability

    In recent years, the consequences of industrial and transportation processes have become impossible to ignore or deny, making sustainability and environmentalism much more important. As a result, another procurement trend expected in 2021 is the overhaul of processes with a negative environmental impact as well as the implementation of new eco-friendly solutions, such as more considerate shipping processes and more local sourcing where possible.

    Focusing on Social Impact

    More businesses are under stress to be more socially conscious and develop a broader understanding of environmentalism. This could imply a greater emphasis on ethical practices, such as a fair wage and working conditions for all workers involved in the supply chain, rather than just procurement. This could also lead to more local labor being sourced where possible in order to provide opportunities for the community.

    See Also: Top Procurement Consulting/Service Companies

    More in News

    Real-Time Insights Fueling Smarter Brand Strategies

    Real-Time Insights Fueling Smarter Brand Strategies

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Enhancing Customer Satisfaction through Omni-Channel Payments

    Enhancing Customer Satisfaction through Omni-Channel Payments

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/key-procurement-trends-for-2021-nwid-8399.html