MORE ABOUT MARKETING PROCUREMENT

Still in a state of recovery from significant economic and social disruption since 2020; greatly affected by disruptions to supply chains, political and global tension, advances in technologies, increased prevalence of AI, the constant evolution of consumer needs, commitments to sustainability. In a world where persistent challenges are brought to global value chains, attention is now shifting from cost improvement to business resilience. 

In an ever-evolving and increasingly-dependent digital landscape, issues surrounding trust and transparency remain a constant for many industries – procurement being no exception to this rule. Improvements to online standards will ensure trust between brands, agencies and consumers are strengthened across advertising. Frameworks from the likes of ISBA and the IAB are in place to continue to drive practices and deliver environments which are trusted by consumers in a shapeshifting online world. Persisting industry issues also include shrinking workforces and skill gaps, in turn leading to intensification of competition in securing talent. 

In the pursuit of greater sustainability and strategic delivery, DE&I goals allow organisations to ensure best practices are maintained, allow for greater representation and talent diversity. With regards to sustainability, the industry continues to strive towards reducing carbon emissions and that objectives are met, as well as this, alignment between agencies and advertiser interests must be streamlined. In this field, procurement has the opportunity to take the reins in the reduction of value chain emissions and securing sustainable sourcing and materials in the quest for net zero. 

As the world expands to include and evolve with AI practices, marketing procurement professionals are required to remain vigilant on its use and implementation. Advances in AI and machine learning which rapidly scrape deep insights from data. Here, procurement can make a significant change by improving spend transparency and maximising benefits on key movements in supply markets.

To gain expert insight into these topics, attend the Marketing Procurement iQ London conference this April, where industry leaders will address the rising and present issues in the industry.