Advanced analytics tools are helping procurement specialists mine data from various sources for insights into supplier performance (such as their Indigenous, or diverse, supplier engagements), procurement spend, or key financial dates. Analytics are also helping organisations track and manage performance indicators in procurement, and identify areas for improvement and optimisation, especially as high inflation and labour shortages bite.

ESG criteria is increasingly influencing procurement decisions in the property industry. As workers and consumers become more environmentally and socially conscious, property companies are under greater pressure to demonstrate their commitment to sustainable and responsible business practices.

Additionally, companies are seeking to partner with suppliers that are committed to sustainable business practices, including those that can provide environmentally friendly, ethically sourced products and services.

“Procurement is one area of real estate that can really move the needle on a company’s social and environmental aspirations, including supplier diversity and sustainability,” Pittaway says. “We have been able to support clients by partnering with organisations like Supply Nation, Social Traders and WeConnect so we can be confident our suppliers are endorsed and encouraged to maintain sustainable and ethical business practice,” Pittaway says.

A large part of the role of procurement specialists is providing asset, data and cost recommendations to property owners and managers.

With evolving hybrid work models, business changes, and constant updates to technology, procurement teams must be as agile as ever to ensure they are ahead of new demands.

This is driving a more collaborative approach to contract delivery.

“By strategically aligning key stakeholders in the early stages of a project everyone is in a much better position to consider the long-term cost and environmental impact of delivering on building operations and ensuring that procurement processes are efficient and cost-effective,” Pittaway says.

Collaboration is also effective in managing supply chain risks and ensuring that procurement processes are optimised for a specific project, while mitigating the risks of project delays.