News DeskRiyadh, Saudi Arabia – JAGGAER, a global leader in strategic sourcing and procurement solutions, convened a series of impactful roundtable discussions in Saudi Arabia and the UAE, focusing on the pressing priorities of Chief Procurement Officers (CPOs) in navigating the rapidly evolving landscape of procurement and supply chain management.
The roundtables, held in Riyadh and Abu Dhabi, gathered influential industry leaders to deliberate on key strategic areas including artificial intelligence (AI), cost optimization, supplier risk mitigation, procurement talent development, and environmental, social, and governance (ESG) considerations. Among these topics, AI and ESG emerged as pivotal concerns shaping the industry’s current agenda.
Hany Mosbeh, Senior Vice President – Middle East and Africa at JAGGAER, emphasized the company’s commitment to empowering CPOs with cutting-edge source-to-pay technology. Mosbeh highlighted the increasing significance of ESG factors, noting their critical role in risk assessment and supply chain management strategies aimed at sustainable growth.
JAGGAER’s software solutions were highlighted for their role in integrating ESG criteria into procurement processes, aligning with global initiatives to promote ethical practices and sustainability. These efforts are crucial in addressing stakeholder expectations and achieving long-term business benefits, including enhanced stakeholder engagement and risk mitigation.
The discussion also underscored the transformative impact of generative AI technology in procurement. According to recent research from JAGGAER, AI tools streamline various procurement processes, from sourcing to contract management, offering quick insights, simplifying demand analysis, automating bid evaluations, and improving supplier management.
In a related development, a 2023 survey by Gartner in the USA identified ‘Strategic sourcing and leveraging spend’ as the foremost priority for CPOs in 2024, reflecting the ongoing challenges posed by inflation and cost pressures. The survey highlighted concerns over talent shortages, with only 14% of CPOs feeling adequately equipped with the requisite skills to meet future performance demands.
The roundtables convened by JAGGAER serve as a critical platform for industry leaders to strategize amid these challenges, fostering innovation and collaboration in procurement practices across the Middle East.
