3 Trends I’m Watching in Global Procurement

My name is Elly Bisschops and I work in Global Procurement which is part of Teva Global Operations.
The 3 trends that I'm currently watching are:
Sustainable procurement
Resilience in procurement
And the agile operating model
The first trend that I'm watching is sustainable procurement. At Teva we realize how important environmental, social and governance, in short the ESG, is. With seven billion dollars of external spend that we have with our suppliers, we can make a huge impact by selecting responsible and ethical suppliers. All of the measures that we have taken so far have meant that we're currently in the top 1% of pharmaceutical companies when it comes to responsible procurement.
So the second trend I'm watching is resilience in procurement. Teva's future is growth and key in this is resilience. The current economical and geopolitical environment has led to a lot of volatility, inflation and shortages in the market and all procurement organizations are faced with cost increases, for example energy, logistics, materials - so we all see a lot of cost increases. In order to be prepared for the future we need to become more proactive versus reactive. If you look now at all of the things that we already implemented in order to become more proactive with our suppliers, we are very proud that this has been recognized by the World Economic Forum and we were admitted as the first procurement lighthouse.
The third trend that I'm watching is the agile operating model. So in this ever changing environment, organizations need to change as well. So what does that mean? We need to look at new and diverse talents and capabilities, such as analytical skills, big data skills, people that have an agile profile. These new skills will become the differentiator for our successful procurement organization. So we think in our hiring and our development approach becomes crucial to become ready for the future.