In an interview with European Leaders in Procurement, Richard Nixon of KPMG (no relation to the former U.S. President) states that companies will “increasingly look to procurement to stave off the effects of recent volatility on stock exchanges throughout the world.”

In his ELP interview (registration required), Nixon said companies will adopt a more cautious approach to cash management, which would result in many becoming increasingly reliant on procurement to keep cost under control. He explains that this will place a unique set of pressures on those working in procurement.

“The stock market uncertainty is going to make companies think long and hard about how acquisitive they want to be. And businesses in the technology and manufacturing sectors are going to be looking towards procurement to deliver cost optimization.”

Such trends send a clear message to supply managers: your time has come. Use the current economic crisis to reinforce the strategic nature of supply management and demonstrate how you can not only help with near term cost reduction but also with long-term sustained competitive advantage.