With the fourth quarter just a few weeks away, chief procurement officers (CPOs) and their staff are taking steps to start closing out the year and looking ahead to 2023. And while this is a typical exercise for organizations as the year comes to an end, 2022 has been anything but “typical” on a number of different fronts.
The ongoing pandemic, supply chain shortages and rising costs are just some of the top pain points that procurement professionals have been dealing with this year. Add inflation, fluctuating fuel cost, long order lead times and an overarching air of uncertainty to the mix and you get a “perfect storm” of problems for CPOs to identify, address and overcome.
