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At Horizon 2023 in Singapore, Wong Shu Teng, a distinguished Procurement Officer at City Developments Limited (CDL), shared her profound insights into the procurement sector’s evolving landscape. This session, rich with Horizon 2023 Procurement Insights from Wong Shu Teng, offers a unique Singapore-based lens through which to view the future of procurement practices in the APAC region, particularly from the vantage point of Republic Plaza.
Key Learning Points:
Emerging Procurement Trends:
Delving into Horizon 2023 Procurement Insights from Singapore’s CDL, Wong highlights innovative trends poised to redefine procurement in the Asia-Pacific market. She covers digital transformation, sustainability in procurement, and agility in responding to fast-evolving regional dynamics.
Technology’s Role in Enhancing Procurement:
A significant portion of Wong’s insights centers on how Singapore’s technology-forward ecosystem fosters procurement innovation. She discusses how AI, machine learning, and blockchain are revolutionizing processes—particularly for organizations operating within major hubs like Republic Plaza.
Strategies for Strategic Sourcing and Supplier Management:
Drawing from her experience at City Developments Limited in Singapore, Wong emphasizes strategic sourcing and supplier collaboration tailored to the unique supply chain ecosystem of the APAC region.
Overcoming Modern Procurement Challenges:
Wong addresses challenges specific to procurement in Singapore and broader Asia, including regulatory shifts, global disruptions, and localized market dynamics—all enriched by Horizon 2023 insights.
Procurement Leadership for the Future:
Finally, Wong reflects on the evolving role of procurement leaders in Singapore. With a forward-looking view from Republic Plaza, she outlines the skills and mindset required to lead transformation across the region’s competitive procurement landscape.
Key Learning Points:
Emerging Procurement Trends:
Delving into Horizon 2023 Procurement Insights from Wong Shu Teng, she highlights the innovative trends poised to redefine procurement. The discussion includes the pivotal role of digital transformation, sustainability in procurement practices, and the agility required to adapt to new market conditions.
Technology’s Role in Enhancing Procurement:
A significant portion of Wong’s insights revolves around the transformative impact of technology. Horizon 2023 Procurement Insights from Wong Shu Teng emphasize how AI, machine learning, and blockchain are revolutionizing procurement processes, boosting efficiency, and driving innovation.
Strategies for Strategic Sourcing and Supplier Management:
Reflecting on Horizon 2023 Procurement Insights from Wong Shu Teng, she underscores the importance of strategic sourcing and effective supplier management. She shares strategies for optimizing sourcing processes and fostering strong, collaborative relationships with suppliers.
Overcoming Modern Procurement Challenges:
Wong addresses the myriad challenges confronting today’s procurement professionals, offering solutions informed by Horizon 2023 Procurement Insights from Wong Shu Teng. She discusses navigating supply chain disruptions, regulatory changes, and evolving market demands.
Procurement Leadership for the Future:
Lastly, Wong Shu Teng talks about the evolving role of procurement leaders in spearheading change and innovation within organizations. Drawing from Horizon 2023 Procurement Insights from Wong Shu Teng, she highlights the essential skills and competencies needed for future leaders in the procurement sector.
