Authored by Fayaz Haq
It was another busy month in the supply chain and procurement worlds; here are two headlines that grabbed our attention in March. We will also share two additional headlines later in the week – and a few things to be on the lookout for in April.
Headline #1: CPOs search globally to fill the procurement talent gap
We first started to write about the procurement talent gap in January of last year – and still then, the topic is only gaining momentum in the industry.
In order to attract top talent, CPOs are looking beyond the four walls of their offices and rethinking the need to force new employees to relocate for a job. Instead, they are embracing the benefits of having a global, diverse team, while minimising the corporate costs associated with relocation (We wouldn't be procurement professionals if cost reduction wasn't top of mind!).
The full article is definitely worth a read; it includes perspectives from four procurement executives. I have high hopes that this trend will continue, and help to lessen the stress and burden caused by the talent gap.
Headline #2: Global Surge in Marketing Spend
The Warc’s latest Global Marketing Index (GMI) of marketing budgets showed positive increases in the UK, Americas, Europe and Asia in March. Marketing expenditures are often one of the first budget areas on the chopping block during different economic or sales cycles, so global growth in marketing spend is another indicator that more positive economic times are upon us.
Hopefully, other big-picture, economic indicators – like the PMI and GDP – will follow suit in the coming months.