QCOSTARICA (Revista Summa) Despite everything that happened in 2020, 2021 continued to bring us even more surprises. This time last year, we were eagerly awaiting the release of the vaccine and a return to life as we knew it before COVID-19.
Fast forward to today and we are still witnessing the lingering effect of the pandemic, which continues to wreak havoc around the world, with widespread supply chain disruption and virus variants continuing to sow uncertainty.
In 2020, panic led to a level of buying that caused toilet paper shortages. In 2021, we were facing the impact of the shortage of microchips in the high-tech and automotive industries. And for those of us who didn’t do our holiday shopping before Halloween, some gifts may not have arrived until now. To top it off, every industry, from food service and retail to manufacturing and logistics, is scrambling to fill vacancies to meet growing business demand in the face of ever-changing COVID restrictions.
On the positive side, companies continue to recover and are looking for solutions to manage their procurement, supply chain and labor issues. We asked global SAP thought leaders for their perspective on what to expect in 2022. Here’s what they had to say:
“The impact of the shutdowns caused by the pandemic underscores that the global economy is a network economy. Organizations know that no one does business in isolation: success depends not only on a company’s ability to deliver, but also on the ability of all the entities that make up its supply chain. To adapt to ever-changing business challenges, procurement and supply chain process managers will increasingly turn to cloud and network-based solutions to deliver the innovation they need to facilitate the ongoing alignment of your spend strategy with your business strategy,” – John Wookey, President, Intelligent Spend and Enterprise Network, SAP.
“Congested freight ports, rail network delays, gas supply shortages and microchips… 18 months on, we are still feeling the economic repercussions of the Covid-19 disruption. We expected business to return to “normal” in 2021. As we enter a new year, we realize that “disruption is the new normal” and resilience is a top priority. In 2022, businesses must formalize resilience, building sustainable supply chain execution that supports business growth. Despite the volatility, organizations need to take a step back and think about their spending holistically. An integrated approach to spend management that covers purchasing, outsourced labor, and travel and expense management will give customers the visibility and agility they need to adapt to changes in their markets. while continuing to achieve their business goals,” – Etosha Thurman, SAP Chief Marketing and Solutions Officer.
“Nearly two years have passed since the pandemic began to wreak havoc on businesses around the world, exposing the fragility of linear supply chains and the need for a more interconnected economy. During this period, many companies have changed their vision of the field of procurement, moving from a control of costs to a strategic enabler. As 2022 dawns, many procurement leaders are tasked with aligning every spending decision with their overall business strategies. To best fulfill this responsibility, these professionals will need an integrated view of total spend across the business and deep within its supply chain. This level of visibility will enable the information sharing and collaboration necessary to contribute to greater business benefits, including better inventory management, more predictable lead times, alternate sources of supply, increased supplier compliance and, of course, ongoing cost savings. “, Jeff Collier, chief revenue officer of SAP
“If 2021 has taught us anything, it’s that even the best forecasts failed to anticipate some of the challenges the world has seen. Instead, what has happened is that the Sourcing organizations have moved from simply managing and optimizing processes to becoming essential to solving business-critical issues.In 2022, procurement professionals must be bold in embracing this mandate and delivering solutions that help businesses navigate choppy and uncertain waters.
Creative sourcing solutions can address some of the biggest challenges businesses continue to face today: managing supply shortages, rethinking a globalized supply chain, leveraging a workforce external dynamic in the face of the “big resignation” and focus on the period of increasing working capital. global inflation. Let’s be bold and redefine traditional paradigms to meet these challenges,” – Baber Farooq, Head of Market and Solution Strategy at SAP.
Read the original, in Spanish, on Revista Summa