Procurement challenges: What to expect from procurement in 2022
Are you curious about procurement challenges in the UK and what this could mean for your organisation? In this blog, we take a look at the different challenges facing the world of procurement right now. Our Procurement Consultants will also offer solutions for tackling these challenges, helping you drive greater value from your procurement practices.
Scroll to the end to download the July edition of our free Procure Insider newsletter.
Procurement Bill 2022
One of the greatest procurement challenges at the moment is the uncertainty surrounding the UK government’s Procurement Bill.
In December 2020, the UK government published a Green Paper. This document outlined a range of proposed changes to the way public sector procurement is managed and delivered. Following this, the new Procurement Bill was announced in the Queen’s speech in May 2022. The Bill has since had a second reading in the House of Lords.
While the Bill is surrounded in uncertainty, ultimately, it aims to bring positive change to the UK’s public procurement process.
When will the changes happen?
At this stage, nothing is set in stone. However, it is anticipated that the Procurement Bill will come into force in March 2023.
For more information about the Procurement Bill and what it entails, download the July edition of the Procure Insider newsletter.
How to deal with supplier price increases
It’s safe to say that everyone has felt the impact of inflation and procurement is no different. However, as inflation continues to rise, buyers are faced with one of the most difficult procurement challenges yet.
To cope with inflation, suppliers are increasing their prices. As a result, sourcing goods and services is becoming more and more expensive for buyers.
What should buyers do next?
Now, buyers should prepare to navigate these changes and strengthen their negotiations with suppliers. Buyers should analyse the price increase, seek win-win negotiations, and, if necessary, explore new vendors.
Download July’s Procure Insider below for more tips and advice.
Recruitment challenges in procurement
Finally, one of the procurement challenges that organisations are facing is finding the right talent for their Procurement Teams.
Purchasing professionals are viewed as crucial to an organisation’s success. As a result, salaries for procurement positions are on the rise, meaning these roles are more competitive than ever before. Not only that, but the COVID-19 pandemic has changed society’s view of working from home. Now, flexible and remote working are viable options for employees.
As a result of these changes, businesses need to do more to attract the right candidates. However, meeting these expectations can be difficult for hirers.
Find out more about tackling recruitment challenges in the July edition of Procure Insider.
In summary
Right now, organisations in the UK are facing many procurement challenges, which might seem daunting at first. However, these challenges could actually lead organisations to strengthen their procurement practices and drive greater value from the process.
One challenge is the UK government’s Procurement Bill. However, the Bill aims to bring positive change to the UK’s public procurement process, for buyers and suppliers alike.
As a result of inflation and supplier’s increasing their prices, buyers need to strengthen their supplier negotiation strategies. To do this, businesses should analyse the price increase, seek win-win negotiations, or even explore new vendors, if necessary.
Finally, organisations are struggling to find the right talent to join their Procurement Teams. This is due to higher salary expectations from jobseekers, and an increased focus on flexible, remote working options.
To find out more about tackling these challenges, download the July edition of the free Procure Insider newsletter.
How can Hudson Procure help you prepare for the latest procurement challenges?
Many organisations might feel unprepared to face these procurement challenges. If that’s the case, you might benefit from seeking support from procurement professionals.
At Hudson Procure, our procurement experts have nearly two decades of experience. No matter what kind of support you’re looking for, we can help.
If you need our help to navigate all the latest challenges in public procurement, don’t hesitate to get in touch! We offer a range of services and solutions from ad-hoc support to end-to-end management of the procurement process!
Here’s an overview of what we can offer your business…
Procure Consult
With Procure Consult, we provide support with tender management and ad-hoc procurement consultancy. Our expert team will manage the full procurement process or offer assistance at any stage, as and when required.
Procure Health Check
With Procure Health Check, we’ll conduct a full review of the strategic and operational procurement processes within your organisation. We’ll identify the areas that need improvement and help you drive greater value from the procurement process.
Procure Analyse
The purpose of Procure Analyse is to conduct a high-level analysis of your spending activity. We’ll help you understand your current purchasing behaviour and highlight areas that can deliver greater value. Procure Analyse is offered as part of Procure Health Check or as a standalone service.
Procure Outsourcing
With Procure Outsourcing, we deliver a range of procurement solutions on an outsourced basis, completely bespoke to you. This can range from delivering multiple tender projects as a package to delivering the full procurement function of your organisation.
Procure Post
With Procure Post, you can share your tender on one or more of our 11 sector-specific portals. This way, you’ll increase your chances of finding the perfect supplier.
For more information about the procurement challenges mentioned, download our quarterly Procure Insider brochure below.
Download the July edition of Procure Insider
