5 Global Trends About Procurement That You Need To Know In 2022
Just like other business industries, the procurement industry has been positively affected and is experiencing major growth. The rising use of technology has impacted both the supply chain and the procurement industries.
Before diving into the procurement trends that you need to know in 2022, there’s need to mention that the industry has witnessed major disruptions by global events like the Covid-19 Pandemic as well as the Ukraine-Russian war.
As the global economy is trying to recover from these disruptions, new policies and strategies are being formulated by professional procurement bodies to shape the process of procurement for importers, business owners and organizations globally.
Let’s dive into the 10 global trends about procurement that you need to know in 2022.
1. Procurement Automation
eProcuement is the process of procuring digitally using the internet. eProcurement has been a thing for a while for importers globally, but this trend became more obvious after the Covid-19 Pandemic struck. Since then, eProcurement has continued to expand for businesses across the world. With the use of technology and digital tools, many suppliers and importers need not spend so much money on flight tickets because eProcurement has made it possible to connect without the burden of constant travels. This has saved a lot of importers’ money.
2. Strategic Relationship
Before now, the process of procurement didn’t really involve the need to build a healthy, strong and reliable relationship between business owners and suppliers. Now the need for a cordial and healthy relationship between these two entities is very crucial to the procurement, supply chain and business development processes. Many business owners now see the need to win over suppliers by negotiating deals, while suppliers also see the need to win customers by creating more value for the customers.
3. Packaging disruption
With the disruption of Covid-19, it seems that suppliers and shippers have found a way to protect goods in response to the unpredictability of the shipping process and duration. Shipping has become a strict procedure and is subjected to change and policies meant to protect businesses as well as ensure that the shipping industries practice under safe conditions.
4. In-Person Sourcing and Market Evaluation
Despite the rise of eProcurement, gradually the procurement industry is moving towards in-person sourcing where procurement agents, and business owners shop in person. This may be due to rising scam that has been reported on many eCommerce sites. However, in-person sourcing has helped importers find more suppliers, expand their network of suppliers and negotiate deals. Another bonus trend is the ability to do proper market evaluation of the Chinese procurement industries. With the help of procurement experts like Naiyuan Mart Ltd situated in both China and Nigeria, business owners can access leading suppliers in different industries and get dependable market evaluation of different products. The trend now is to build a network of suppliers and do market evaluation before procurement of goods.
5. Supplier Verification and Accountability
Another trend within the procurement industry is the process of verifying suppliers and making them accountable to the deal. With many importers falling for supplier fraud, it has now become a trend to verify your suppliers using different means before going ahead to do business with them. Also making sure the supplier is accountable to the contract has become a necessity in procurement.
Side note: With fraudsters coming up with new tactics and posing as real suppliers over many Chinese eCommerce sites, it may be tricky to know the real suppliers from fake ones. At Naiyuan Mart, we have put together a document to help you verify a supplier and help you identify the real from fake ones. This document is FREE but only available to you as a bonus after you purchase our Suppliers List.
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