The WEF 2024 white paper emphasizes that procurement must evolve from cost-focused strategies to value-driven approaches that address resilience, sustainability, and innovation. Traditional models centered on price optimization are inadequate in an era defined by supply chain shocks, climate risks, and shifting stakeholder expectations. The report calls for integrating ESG metrics, circular economy principles, and digital tools to create adaptive, transparent supply networks. By aligning procurement with long-term strategic goals, businesses can unlock competitiveness, reduce systemic risks, and build trust. Collaborative supplier relationships and cross-sector partnerships are critical to drive resilience and shared value creation.

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