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 8, 2024
Recently I wrote a short article based on a 1993 Architects’ Journal interview with IBM’s then design manager of property, Peter Wingrave. It reminded me how discussions about new ways of working – now including that neologism hybrid working – have been a constant throughout my career. In that interview, Wingrave is quoted as saying: “I think there are interesting times ahead for offices. We are already seeing the slow breakdown of the traditional office which people come to in the morning and leave at night…We would like our offices to catch the social spirit of an old gentleman’s club; you just pop in when you need to. You get more out of people that way… we’re lucky if our marketing areas are ever 40 per cent occupied … It’s crazy to build, run, heat, light and decorate a building as if people were there when 60 per cent of the time you know they are not”. (more…)
October 29, 2024
In 2013, two Australian academics set out to discover the answer to a deceptively simple question. Why is there such a thing as colour psychology, but not shape, line or texture psychology? The answers they come up with are complex, arcane and wide-ranging but they manage to sum them up to some extent in the conclusion to the paper they published. “No other visual attribute shares such diverse representations”, they wrote. “Study into shape, line, and texture hardly competes. For this reason, there are no proportion-shape-line-texture prediction agencies, and chromotherapy is not challenged by proportion-shape-line-texture therapies. Colour remains special and, given its rich and complex heritage, is likely to remain so.” (more…)
October 29, 2024
The Autumn Budget is anticipated to introduce a series of tax increases that could directly impact commercial property owners, including changes to capital gains tax (CGT), national insurance contributions, and business rates. These changes could have a ripple effect across the property market, influencing both investment decisions and tenant demand. These are the key areas of concern for commercial property owners. (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…)
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 20, 2024
Almost a quarter (23 percent) of people say that they have turned down a job because they didn’t like the office environment, according to a new poll. This rose to almost a third (32 percent) for 18 – 24-year-olds indicating the need for a high-quality office environment for the younger generation. Geographically, workers in the capital are most likely to pass on a job based on the office surroundings, with a third (32 percent) of London based workers admitting to declining a role for this reason. (more…)
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…)
November 28, 2024
These are very early days in our relationship with Generative AI
by Jo Sutherland • AI, Comment