What on Earth is V.U.C.A and Why Should Anyone in Procurement Take Note? 

Author: Sarah Shannon
Date:  March 16, 2023

The acronym buzzing around at our recent event, in Edinburgh, was V.U.C.A. If you are unfamiliar with V.U.C.A it stands for Volatile - Uncertain - Complex - Ambiguous. Which fits the turbulent times we are experiencing day to day. In today’s pressurised environment a new breed of procurement leader is emerging. Procurement leaders that are spearheading a new approach to procurement to help navigate an uncertain business world. 

This innovative breed of procurement professional is evolving alongside advances in RFx technology and smarter processes. They are using tech to free themselves from mind numbing tasks to focus on the strategic side of the role — allowing them greater influence with stakeholders and enhanced career prospects. The technology also enhances the ability to breakdown complex procurement decisions and make informed tactical purchasing decisions during a time of economic uncertainty.  

Today, procurement professionals even view a period of economic uncertainty as an opportunity. A time to broaden their roles and discover new thinking and innovative technology to make the job more interesting.  

Here are 7 ways new RFx technology is helping procurement professionals: 

  • Faster RFx workflows for RFPs, RFIs & DDQs 
  • Evaluate processes and eliminate repetitive tasks. 
  • Assess risks, supplier management and contracts for better and fairer deals for all 
  • Adding value by understanding internal & external stakeholders' requirements 
  • Tweak operating models to continually improve 
  • Improve supplier experience and build better relationships 
  • Hone negotiating skills to secure best deals 

As a result, roles such as 'Procurement Leader' are becoming more sought after by graduates, who are seeking these roles instead of falling into them. 

Discover the exciting new way for procurement professionals to do business and thrive during a period of V.U.C.A. 

Download our PDF to discover Pulse RFx for procurement

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