New approaches to procurement and contract management are emerging, in which advanced skills and expertise are combined with state of the art technologies and new business models, to deliver high levels of value to the organization through the purchase of materials, services and expertise.

Procurement and contract management are undergoing radical transformation in many organizations. In contrast to the support role they traditionally occupied, these functions are increasingly seen as central to the organization’s ability to achieve its business goals, meet financial targets and achieve successful innovation. Reflecting this, new approaches to procurement and contract management are emerging, in which advanced skills and expertise are combined with state of the art technologies and new business models, to deliver high levels of value to the organization through the purchase of materials, services and expertise.

This paper entitled Procurement and Contract Management - The Role of Art & Science, reviews the evidence for these developments and discusses a number of major trends that are changing the world of procurement and contract management. But change rarely comes without challenge, and we also highlight the new types of issues and risks associated with these developments that procurement and contract management specialists and their organizations are faced with.

Link to White Paper here