Procurement has seen tremendous advancement in the last decade. From being managed by each line of business without much visibility across other departments to functioning as advisors to the C-suite, procurement teams have had to shift from doing tactical work to delivering strategic insight.
In our experience working with marketing and procurement teams, we have seen that a mutually supportive relationship between both parties cannot be underestimated. Alone, procurement might have a stronger focus on cost, risk and process, while marketing looks to deliver on sales and brand. Together, they drive overall brand innovation, performance and intelligence. Achieving this requires collaboration, clear lines of communication, accessibility to new technologies, and joint goals – for without a common purpose true integration is not possible.
