Procurement's Year in Stories: December 2024

Exploring SAP's 2025 Spend Management Predictions 

AI continues to dominate procurement discussions, topping our top 10 procurement trends of 2024 and raising the question: will its influence endure into 2025?

According to SAP, the answer is an emphatic yes.

The software giant foresees significant advancements in spend management driven by AI, sustainability and interconnected ecosystems.

These trends promise to reshape how organisations manage procurement, travel expenses and supplier relationships.

Spend management, which involves optimising purchasing and supplier interactions to align with financial objectives, is evolving rapidly.

SAP's latest insights highlight five key trends for the coming year, from AI-driven procurement to reimagined travel expense systems.

Discover five trends in spend management shaping 2025 according to SAP:

1. AI-Powered Procurement 
2. Streamlining processes 
3. A new generation of leaders
4. AI Across Business Networks 
5. Travel and expense management

Manoj Swaminathan, SAP's President and Chief Product Officer for Intelligent Spend and Business Network, highlights the value of process orchestration: "The technology landscape is rapidly evolving and organisations are grappling with a heterogeneous mix of solutions.

"Many companies now employ multiple systems to meet their end-to-end business needs, leading to siloed processes and confused employees.

"Procurement, in particular, often suffers from fragmented systems handling everything from purchase requests to supplier onboarding, creating inefficiencies and frustration."

The landscape of spend management is rapidly evolving as organisations embrace advanced technologies and innovative strategies.

From AI-driven procurement and process automation to the rise of a new generation of leaders focused on sustainability and strategic decision-making, businesses are adapting to meet the challenges of a dynamic environment.

As spend management continues to transform, the integration of AI across business networks is clear. Ultimately, these advancements position organisations to better manage financial processes, enhance collaboration and drive long-term success.

Coca-Cola's Circular Vision: Water, Packaging & Emissions 

Coca-Cola, one of the largest players in the global beverage market, is advancing its environmental commitments with a vision centred on sustainability and circularity.

Operating in over 200 countries with a portfolio of more than 200 brands, including Coca-Cola, Sprite and Costa Coffee, the company impacts both global markets and local communities. Through partnerships with bottling affiliates, Coca-Cola supports a network of over 700,000 people, intertwining economic growth with its renewed sustainability focus.

The company's updated environmental goals align with its long-standing purpose of "refreshing the world and making a difference," extending this mission into an ambitious vision for 2035.

From sugar reduction to packaging innovation and water stewardship, Coca-Cola has consistently sought to reduce its environmental footprint. This focus is now sharper than ever, as Bea Perez, Executive Vice President and Global Chief Communications, Sustainability & Strategic Partnerships Officer, explains: "We remain committed to building long-term business resilience and earning our social licence to operate through our evolved voluntary environmental goals."

At the core of Coca-Cola's sustainability efforts is water security, a resource fundamental to its products and processes.

Since 2015, the company has replenished 100% of the water used in its finished products, returning it to nature and communities. Building on this achievement, Coca-Cola is prioritising 200 high-risk areas that constitute roughly one-third of its operational footprint.

These regions face significant water stress, and the company plans to reassess and update its analysis every five years, including its most recent evaluation in 2024.

In these areas, Coca-Cola's initiatives include replenishment, improved water-use efficiency, and better local water treatment processes. These efforts ensure the water returned is safe for communities and ecosystems, demonstrating Coca-Cola's commitment to strengthening local water security.

Explore the latest edition of Procurement Magazine and be part of the conversation at our global conference series, Procurement & Supply Chain LIVE.

Discover all our upcoming events and secure your tickets today.

Procurement Magazine is a BizClik brand