How to Make Annual Procurement Budget Planning Effective and Easy
By SpendHQ
From October to late December, procurement teams are immersed in the annual budgeting and planning that comes with preparing for the coming year’s projects. It’s not that most exciting job responsibility, but it’s a necessary one.
It’s important that budgets connect with the overall business strategy, go-to-market roadmap, and financial and nonfinancial performance goals. And as the past few years and current conditions remind us, Procurement should also consider how economic uncertainties, unpredictable supply chain disruptions, and workforce challenges will affect how projects unfold.