The Future of Procurement: 2020: Outsourcing Explodes

Non-critical, transactional procurement activities currently done in-house that will likely be outsourced by 2020 include:

• All transactional processing, including POs, invoices, and payments.
  
• All non-strategic spend category management, such as leveraged commodities.
  
• Supplier catalog and contract management.
  
• Sourcing event execution.
  
• Data gathering, analysis, and reporting activities.
  

What will remain in-house will be the critical strategic spend categories. This will require procurement staff capable of strategic thinking, and who are capable driving innovation.

Adapted from VISION 2020: Ideas for Procurement in 2020 by Industry Leading Procurement Executives http://bit.ly/kIwoW3