Reducing bureaucracy and fueling digitalization

As part of the "Porsche Consulting Procurement Lounge," around 40 purchasing managers and procurement experts met in Stuttgart to exchange views on current challenges and opportunities in their field. The focus was on strategies to cope with stagnation, inflation, and increasing bureaucracy, which pose new hurdles for global procurement and trade. Barbara Frenkel, Member of the Executive Board for Procurement at Porsche AG, and Karin Fess, Partner at Porsche Consulting, engaged in a lively discussion with experts from various industries. The discussion addressed the impact of economic uncertainties on the competitiveness of Germany and Europe as well as on procurement strategies.

Keynote speakers Jens Ulbrich, Head of the Economics Department and Chief Economist of the Deutsche Bundesbank, and Andres Sutt, Member of the Estonian Parliament and former Minister of Entrepreneurship and IT, provided in-depth insights into economic policy developments. They explained how companies can deal with current challenges and what measures are necessary to remain competitive in the long term. The exchange with procurement decision-makers and professionals highlighted that a forward-looking procurement strategy is essential to address uncertainties and ensure sustainable business success.