Marketers and procurement teams are beginning to speak the same language regarding value creation. What was once a pain point between two departments is now a core conversation. Great change has occurred in 2020. It has shifted perceptions and accelerated the desire of both marketing and procurement teams to re-think how process, data, and technology can enhance their internal operations to deliver great ideas, product, and services.
With significant mandates to drive efficiency and effectiveness across categories, we expect greater reliance on procurement capability to deliver data-driven analysis and recommendations that feed into strategic marketing decisions. Every bit counts. From dynamic resourcing to contract compliance, automation and technology, and addressing stakeholder interests, marketing procurement teams can expect their role in value creation to increase in the year ahead.