January 10, 2025
The Sustainable Design Forum – a one-day interactive event designed specifically for workplace designers and specifiers – is returning to the Crypt on the Green in Clerkenwell, London for its third year on Thursday 25th April 2025. With a focus on ‘People and Planet’, this year’s event has been expanded to include additional workplace topics. More →
November 21, 2024
The latest sustainability report from the Royal Institution of Chartered Surveyors (RICS) highlights the continued challenge of embedding sustainable practices within the built environment, despite some signs of progress. While demand for sustainable buildings and investment remains steady, particularly in regions such as Europe, significant gaps persist in terms of skills, knowledge, and financial incentives. More →
November 19, 2024
A significant proportion of global office space is at risk of obsolescence, with up to £1 trillion required to revitalise aging office buildings, according to a new report from real estate firm JLL. The report, titled Opportunity through Obsolescence, sets out to highlight the challenges posed by outdated structures, increasingly stringent regulations, and shifting tenant preferences, but also identifies opportunities for property owners and cities to create long-term value through investment and adaptation. More →
November 7, 2024
A new report from Hassell, the 2024 Education Futures Survey, explores how hybrid working is reshaping the needs and expectations of Australian university staff. Based on responses from 300 university employees and a benchmark group of 500 office workers, the survey reveals distinct trends in campus work culture and the growing preference for in-person interactions among academic staff, coupled with a desire to continue working from home when needed. More →
November 6, 2024
The outlook for the European commercial property market is cautiously optimistic despite growing geopolitical uncertainty and concerns about economic growth, with London, Madrid and Paris emerging as the standout performers, according to a new report by PwC and the Urban Land Institute (ULI). The report – Emerging Trends in Real Estate Europe 2025 outlines how market players believe ‘a new normal’ is emerging as valuations have come down and interest rates regain some level of predictability in a market characterised by higher inflation and interest rates, and geopolitical and economic uncertainties. This led to more than 80 percent of survey respondents expecting business confidence and profits to stay the same or rise in 2025, with around half predicting increases in both. 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 16, 2024
CEOs face sleepwalking into reputational disaster through a concerning over-confidence which masks inadequate crisis planning to mitigate modern day risks, according to a new report [registration] from PHA Group. The survey questioned 150 CEOs across the UK’s £240bn professional services sector on confidence and planning in navigating business critical issues. Examining issues from workforce management and whistleblowing to climate change and regulation, CEOs from law firms, insurance, finance and accounting, consultancy and recruitment conveyed confidence but also revealed a lack of investment and planning. 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 23, 2024
UK chief executives see implementing Generative AI (GenAI) as an opportunity to change the nature of work and create highly skilled workforces without reducing the number of jobs in the market, according to KPMG’s 10th annual CEO Outlook survey. KPMG surveyed more than 1,300 CEOs around the world – 150 in the UK – in July and August, revealing that two thirds of UK CEOs (65 percent and 76 percent globally) see GenAI as a positive disruptor with 68 percent (65 percent globally) agreeing that GenAI remains a top investment priority. More →
September 13, 2024
The extensive refurbishment of the Palace of Westminster, a project estimated to cost over £20 billion, could significantly impact the availability of specialist craftworkers needed for the UK’s net zero targets, according to Historic England. The public body is warning that the project, which could take up to 43 years and require around 3,000 specialist workers annually, would absorb a large portion of the nation’s skilled heritage plasterers, carpenters, and window specialists. This is likely to strain an already limited workforce at a time when the country faces a shortage of traditional building crafts essential for refurbishing older buildings. More →
September 9, 2024
A new report claims that data centres will generate around 2.5 billion tonnes of greenhouse gas (GHG) emissions worldwide by the end of the decade. This figure is three times higher than it would have been had the rapid rise of generative artificial intelligence (AI) not occurred. The report, published by Morgan Stanley titled Global Data Centers: Sizing & Solving for CO2, suggests that the combined emissions from the construction of new facilities and their energy consumption will amount to around 2.5 billion tonnes of CO2-equivalent by 2030, roughly 40 per cent of the United States’ current annual emissions More →
August 21, 2024
This unprepossessing building in Peterborough has been named as one of the world’s leading workplaces by Leesman. The Government Property Agency (GPA) office hub building is the second building belonging to the GPA that has achieved Leesman+ certification – global recognition of exceptional workplace experiences which only six public sector offices worldwide have ever attained. More →
