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CPOs at Fortune 50 companies are now looking at issues such as security of supply, energy prices, accelerating innovation, sustainability and Scope 3 CO2e emissions, says Guy Strafford, Executive Vice President at Proxima. While some of these current challenges will be long-term and more important than others, the question is how businesses will minimize the consequences. Procurement has been an essential partner to businesses throughout the pandemic.
The multinational pharmaceutical company Perrigo had 120 lines of excess product that they were unable to sell. The product sat in a warehouse and with the product depreciating in value, Perrigo engaged in a corporate trade. They ‘traded’ their product for media time and space. For their product they bought media time on Portuguese television on networks such as SIC and TVI, while in the UK their product allowed them to advertise with media companies such as JC Decaux, Hearst Magazines and Sky.
Procurement Systems & Software There was a time when all IT came in a box and investing in technology meant large up-front capital payments for hardware and software. So, financing was a fairly straightforward process. But the business environment is increasingly moving towards an ‘as-a-service’ economy, with the subscription model becoming the preferred means of funding IT investment.
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