The Changing Role of Procurement and Sustainability

The Dutch National Bank (DNB) reported on the sustainability work of the Joint European Tender (JET) group at the Intergraf Currency+Identity conference. This is a tangible banknote specific example of an approach to using procurement to drive change.

At the same time McKinsey has published a piece asking whether circularity is the next opportunity on the horizon for procurement departments ¹. While it is slightly future focused, it does support the work of the DNB, but it also points to an opportunity for a very different future.

McKinsey view on procurement

Mauro Erriquez, McKinsey senior partner, and Dominique Lebigot, Chief Purchasing Officer (CPO) of LVMH Wines and Spirits, discussed how procurement can drive competitive advantage through innovation and strategic partnerships, particularly at a time of complex and volatile global supply chains.