October 21, 2024
As businesses, large and small, continue to adapt to post-pandemic realities, the demand for flexible working solutions continues to surge. The part-time office offers companies the ability to rent office spaces on a part-time basis—often for just one to three days a week— whilst opening a unique opportunity for occupiers, landlords, operators, and investors. More →
October 21, 2024
Manchester has become the first UK city outside of London to join the European Union’s CommuniCity initiative, a programme designed to empower local people and organisations in developing innovative solutions to social challenges. As the second UK city to participate (following London), Manchester is now part of this three-year initiative led by Horizon Europe, the EU’s primary funding programme for research and innovation. CommuniCity seeks to engage communities, businesses, and organisations to create technical solutions that address social inequalities. More →
October 16, 2024
A new report from the British Council for Offices (BCO) argues that if employers want their staff to ‘return to office’, they need to approach the workplace in the same way they would their customers by creating spaces that offer experiences workers actively seek out. The report, titled Towards Experience Utopia, claims to serve as a comprehensive guide for creating optimal working environments that integrate the best aspects of both remote and in-office work. Commissioned by the BCO Occupiers Group, which includes major employers like NatWest, PwC, Deloitte, and Goldman Sachs, the report highlights how the shift towards hybrid working has transformed the expectations of employees. More →
October 16, 2024
Strategic investment, innovative technology, and collaboration are essential for achieving sustainability and value goals in the real estate sector, according to a new report from Colliers. The report Realising ESG Performance: The Value-Driven Transformation of Europe’s Built Environment [registration] claims to provide insights into how the real estate industry can embrace sustainable buildings and comply with regulatory demands while creating long-term value. More →
October 9, 2024
The British Council for Offices (BCO) has announced what it says are the UK’s most exceptional workplaces this year, with eight projects receiving accolades at its National Awards. The TTP Campus, a life sciences facility in Cambridgeshire, was the standout winner, claiming both the Best of the Best and Corporate Workplace awards. The awards, held at the JW Marriott Grosvenor House in London, celebrate excellence in office design, operation, sustainability, and community engagement. The event, attended by over 1,200 industry leaders and featuring guest speaker Clare Balding, highlighted the best workplaces that inspire creativity and positively impact local communities. More →
October 9, 2024
Grosvenor and The Crown Estate have launched a new report that aims to shed light on the challenges faced by people with physical and hidden disabilities when accessing and working within buildings and public spaces across the UK. The joint report, Inclusive Spaces and Places: A collaborative approach to inclusive design, highlights the urgent need for inclusive design in the built environment, emphasising the barriers that prevent millions from fully engaging with public and commercial spaces as well as the potential societal and economic losses this results in. More →
September 26, 2024
In recent years, procurement has transformed from a back-office function to a strategic driver of business value. As global supply chains become more complex and businesses strive for greater efficiency, sustainability, and agility, the future of procurement is set to change even more dramatically. Technological innovations, data-driven insights, and a shift in priorities are reshaping the way organizations manage their sourcing, purchasing, and supplier relationships.
This article explores the future of procurement, focusing on the trends, technologies, and strategies that will define this critical business function in the coming years.
One of the most significant trends shaping the future of procurement is digital transformation. Traditional procurement processes, which were often manual and time-consuming, are being replaced by automated, digital solutions. Technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA) are streamlining procurement workflows, enhancing transparency, and improving decision-making.
Artificial Intelligence (AI) and process orchestration are transforming procurement by streamlining complex tasks and improving overall efficiency. As highlighted in Tonkean’s blog, AI can eliminate time-consuming manual work like managing approvals, chasing stakeholders, and navigating complex systems. The use of AI-powered orchestration allows procurement teams to unify systems, automate routine tasks, and facilitate collaboration. This leads to faster cycle times, better process adoption, and more time for high-value strategic work, ultimately positioning procurement as a key business partner.
Key Areas of Digital Transformation:
– Automation of Routine Tasks: Tasks like purchase order creation, invoice processing, and supplier matching can now be fully automated, allowing procurement professionals to focus on more strategic initiatives.
– AI-Driven Insights: AI can analyze vast amounts of data to identify trends, predict demand, and assess risks, enabling more informed decision-making.
Impact:
The adoption of digital technologies will lead to faster procurement cycles, reduced errors, and significant cost savings. Procurement professionals will need to adapt to new tools and skills, such as data analytics and AI-powered decision-making, to remain competitive.
Data is becoming the new currency in procurement. With the vast amount of data now available through various channels—supplier data, market trends, and performance analytics—procurement teams have the opportunity to make more strategic decisions. Advanced analytics tools are enabling organizations to turn raw data into actionable insights, optimizing procurement strategies for cost reduction, risk management, and supplier performance.
How Data Impacts Procurement:
– Supplier Relationship Management: Data analytics can help procurement teams evaluate supplier performance, identify key areas of improvement, and foster stronger, more collaborative relationships.
– Risk Mitigation: Predictive analytics can forecast potential supply chain disruptions, allowing organizations to proactively manage risks such as supplier bankruptcies, geopolitical instability, or natural disasters.
– Cost Optimization: By analyzing purchasing patterns and market trends, procurement professionals can negotiate better contracts, reduce maverick spending, and ensure cost savings across the board.
Impact:
The ability to harness and analyze data will be critical for the future of procurement. Organizations that leverage data to drive decisions will be able to build more resilient and cost-efficient supply chains.
As consumers, investors, and regulators increasingly prioritize sustainability, procurement teams must align with corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. This shift means that procurement will play a central role in ensuring that businesses source goods and services from environmentally and ethically responsible suppliers.
Key Areas of Focus:
– Sustainable Sourcing: Procurement teams will need to ensure that suppliers adhere to environmentally friendly practices, such as reducing carbon emissions and minimizing waste.
– Ethical Labor Practices: Ensuring that suppliers comply with labor laws, prevent human rights abuses, and foster fair working conditions will become a priority.
– Circular Economy: Procurement will increasingly focus on sourcing products that can be recycled, reused, or repurposed, contributing to a more circular economy.
Impact:
Sustainability will no longer be optional for procurement teams. To remain competitive and compliant, procurement professionals must prioritize ethical and sustainable practices in their sourcing strategies.
In the future, procurement will shift from a transactional function to one that focuses on collaboration and innovation. Instead of simply managing suppliers, procurement teams will work more closely with them to co-create value and drive innovation. This shift will require a new approach to supplier relationships, one that emphasizes trust, transparency, and mutual benefit.
Key Changes:
– Supplier Collaboration: Rather than viewing suppliers as vendors, procurement teams will treat them as partners in innovation. This collaboration can lead to the development of new products, improved processes, and shared efficiencies.
– Long-Term Relationships: Procurement will focus on building long-term, strategic partnerships with suppliers, ensuring that both parties can innovate and grow together.
– Innovation Hubs: Some organizations may establish innovation hubs or programs where procurement teams and suppliers collaborate on research and development, bringing cutting-edge products and services to market faster.
Impact:
Collaboration with suppliers will become a competitive advantage, enabling organizations to innovate, adapt to market changes, and deliver more value to customers.
As procurement evolves, its role within the organization will become more strategic. Instead of being seen as a cost-saving function, procurement will increasingly contribute to business growth, innovation, and resilience. This shift will require procurement professionals to develop new skills and capabilities, such as strategic thinking, cross-functional collaboration, and leadership.
Key Areas for Strategic Focus:
– Procurement as a Value Creator: Procurement will move beyond cost-cutting to create value through innovation, risk management, and sustainability.
– Cross-Functional Collaboration: Procurement teams will work more closely with other departments, such as R&D, marketing, and finance, to align procurement strategies with broader business objectives.
– Leadership and Influence: Procurement leaders will need to influence key stakeholders and contribute to strategic decision-making at the executive level.
Impact:
The strategic elevation of procurement will lead to greater influence within organizations, enabling procurement professionals to drive business success through innovation, resilience, and sustainability.
Conclusion
The future of procurement is one of transformation and opportunity. As digital technologies, data-driven decision-making, sustainability, and supplier collaboration reshape the procurement landscape, professionals in this field will need to adapt and embrace new skills and strategies. By doing so, they will not only optimize procurement processes but also contribute to the long-term success of their organizations.
Procurement is no longer just about sourcing the best deal—it’s about building resilient, ethical, and innovative supply chains that drive business
September 24, 2024
There is a famous episode of Seinfeld in which the character George is insulted in a business meeting and only thinks of a perfect retort while driving away from the office. This being George, he decides that he doesn’t want to waste his ‘killer line’ so engineers a second meeting so he can use it with the person who had insulted him, only for it to blow up in his face yet again. It’s an example of what the French refer to as l’esprit de l’escalier and the Germans as Treppenwitz, in both languages the wit you develop on a staircase.
It describes the phenomenon we all experience of having our best ideas when we stop trying to have them. When our mind wanders, and especially when the body is wandering too, it is free to have its own moments of insight and inspiration. And, contrary to the idea that structured collaboration leads to good ideas, when we are alone.
Unsurprisingly, there are good reasons why this happens. In his book The Eureka Factor: Aha Moments, Creative Insight, and the Brain, Professor John Kounios argues that our brains have essentially two ways of solving problems. One is analytical in which we use a rigid methodology to arrive at a solution. It is based on the frontal lobe of our brains that is responsible for attention, organising information and focus. The other is one where we experience a eureka moment in which an idea seems to pop out of nowhere.
His own insights into these phenomena are based on his research into what happens to the brain when it has ideas or solves problems. Using neuroimaging technology, he and his fellow researchers invited a number of research subjects to solve puzzles. What they found was that shortly before a burst of activity in the right temporal lobe of the brain indicating a moment of inspiration, the brain would shut down its own visual cortex which processes sight and perception.
Kounios and his fellow researchers compare it to the way we might close our eyes or look away immediately before a eureka moment. For a moment we become unaware of our surroundings while the idea flares into being. The brief change in function in the brain allows it to focus inwards and use the subconscious to make links between information it has stored and then present it to our conscious mind.
By contrast, when thinking methodically about a problem, the brain uses the frontal lobe to focus attention outwards to acquire as much information as it possibly can.
Eureka!
The process of having creative epiphanies is best served when we are not in a methodical frame of mind and ideally when we are not processing information in a formal way. That is why a walk in the park, a change of activity or setting or doing something routine like taking a shower are conducive to those aha moments. Sitting at our workstation in an office may be a great way of completing many tasks, but it is not necessarily suited to the creative spark.
Merely being in the outdoors or being able to perceive the natural world from our place in the office building can release endorphins and increase our feelings of wellbeing, putting the brain into the right frame of mind for an aha moment. Stepping away from a problem also gives the brain a chance to place less emphasis on its frontal lobe and allows the subconscious to intervene.
A study published in the Journal Psychological Science called Inspired by Distraction: Mind Wandering Facilitates Creative Incubation found that when we create the conditions in which our minds can wander, the brain makes connections between pieces of information unconsciously, massively increasing our ability to have revelatory insights and ideas.
We can achieve this by doing simple things like exercising outdoors, going for a walk or simply relaxing, by changing our behaviours but also by changing our surroundings. An office that encourages people to move and be aware of the natural world is not just good for physical and psychological wellbeing, it allows us to work in different ways that are best suited to the ways our brains function.
That includes moments of doing nothing in particular or sitting back or closing our eyes or simply walking up some stairs to tap the potential for creativity we all have hidden within.
September 18, 2024
Have you ever attended a conference and been asked to gaze deeply into a stranger’s eyes for several minutes, standing just a metre apart in silence? No? Neither have I – until this September at the CoreNet Global Summit in Berlin. Gone are the days of handshakes and small talk. Today, it’s all about relationality, empathy, and hugging it out. For some, the summit’s emphasis on fostering human connections was a joyful opportunity to bond and share meaningful moments with fellow professionals. For others, it felt like being trapped in a never-ending therapy session nobody signed up for. More →
September 16, 2024
Many companies remain unaware of how their employees’ digital workplace experiences impact productivity, according to a new report by Scalable Software [registration]. The report suggests that nearly half of organisations (45 percent) do not conduct “employee journey mapping,” leaving them uninformed about how digital friction -the difficulties people have working with technology – affects people’s ability to perform tasks at work. The report claims that this limits their understanding of the challenges people face when working with tech. More →
September 10, 2024
A ‘whole-of-government approach’ is needed to tackle the causes of ill health, increase economic activity and reduce NHS demand, a new report from the NHS Confederation and Boston Consulting Group claims. According to the report, “Improving our Nation’s Health: A Whole-of-Government Approach to Tackling the Causes of Long-Term Sickness and Economic Inactivity”, reintegrating between half and three-quarters of people who have dropped out of the workforce for reasons of ill health since 2020 could deliver an estimated £109-177 billion boost to the UK’s GDP (2-3 per cent in 2029) and unlock £35-57 billion in fiscal revenue over the next five years. More →
October 29, 2024
How commercial property owners can boost revenues and occupancy in light of the Autumn Budget
by Dieter Wood • Comment, Facilities management, Property, Workplace design