To unpack these changes and explore what lies ahead, we sat down with Veriscape CEO Pradeep Sriganesh and Michael Lucas, Lead Engineer at Manufacturing Catalyst, for a live panel discussion on the future of procurement.
Watch the full webinar recording, or read on to explore the insights and summary from our conversation.
1. Procurement’s role is expanding. It is evolving from cost control to strategic influence.
2. Technology must align with people. True transformation happens when systems fit real workflows.
3. Visibility drives agility. Clear, connected data helps teams anticipate challenges before they escalate.
4. Collaboration builds strength. Partnerships between suppliers and teams unlock innovation and efficiency.
5. Simplicity wins adoption. Tools succeed when they are intuitive, practical, and easy to use.What are the biggest challenges procurement teams face today, particularly in manufacturing and material flow?
Michael pointed to limited resources and the absence of dedicated procurement specialists in smaller manufacturing businesses as a massive challenge.
Spreading team members across too many departments can often lead to reactive purchasing decisions and inconsistent communication across the business.
Procurement has traditionally been seen as a cost center. How is its role evolving into a strategic function for 2025 and beyond?
Pradeep explained that procurement will likely always carry elements of a cost-center mindset, especially in organizations where it evolved from operational roles. However, its function has expanded significantly since the pandemic, moving beyond cost control to encompass risk management, resilience, and sustainability.
As consumer awareness and ESG expectations grow, these pressures are reaching every level of the supply chain, pushing procurement to balance cost efficiency with strategic, ethical, and long-term value creation.
What procurement trends are most shaping the way manufacturers operate today?
Michael points to supply chain resilience, which has always been important, but has become the defining trend shaping how manufacturers operate today.
Geopolitical disruptions, natural disasters, and post-pandemic challenges have made sourcing reliability a top priority. Manufacturers are reevaluating where and how they source materials to maintain continuity while balancing sustainability and compliance. As industries evolve and suppliers shift, companies must adapt quickly, ensuring they can continue producing innovative, compliant products even as global conditions change.
Where is technology having the most immediate impact: automation, ERP integration, or data-driven decision-making?
Pradeep noted that ERP integration and automation deliver the fastest returns by eliminating manual inefficiencies. Making sure people have the tools to access data can uplift the procurement process by unlocking deeper, strategic decision-making based on facts.
How are global factors, including economic shifts, geopolitical uncertainty, and ESG pressures, filtering down to Australian procurement teams?
Michael and Pradeep both agreed that global economic shifts, ESG pressures, and geopolitical tensions are having a pronounced impact on Australian procurement teams, adding complexity to their traditional sourcing and negotiation responsibilities.
Australia’s geographic distance from major manufacturing hubs makes it harder to maintain visibility and agility, especially when sourcing materials that cannot be obtained locally. Procurement professionals must now balance cost, time, and ethical considerations while adapting global procurement strategies that often don’t align neatly with local market realities. This has created a unique challenge for Australian organizations, requiring them to find innovative ways to ensure sustainability, compliance, and resilience within their supply chains.
Many manufacturers struggle to balance cost savings with innovation and agility. How can procurement strike that balance?
Michael argued that innovation and efficiency reinforce one another when procurement takes a long-term view.
Strategic supplier relationships and data-informed planning can achieve both cost control and agility.
Where have you seen clients successfully transform a procurement challenge into an opportunity?
Pradeep shared examples of organizations automating repetitive tasks to free up time for developing data-driven strategies. Simple, incremental improvements often create the biggest gains in efficiency and collaboration.
Visibility is often described as both a challenge and a goal. What practical steps help turn that into an opportunity?
As with the previous point, Michael and Pradeep both emphasized the value of simplicity. Pradeep noted that overly complex tools reduce adoption: “The simpler the tool, the better.” Michael added that integrated data and transparent supplier relationships are essential for real-time visibility.
What capabilities will procurement leaders need most over the next three to five years?
Pradeep highlighted the importance of procurement leaders prioritizing digital literacy, ESG integration, and stronger supplier partnerships.
As technology evolves rapidly, teams must understand how interconnected systems operate, where risks lie, and how to maintain resilience amid increasing digital dependence. Procurement success will depend on building long-term, collaborative supplier relationships that go beyond transactions to drive mutual value, innovation, and sustainability.
If you could give one piece of advice to procurement executives about preparing for the future, what would it be?
Michael urged leaders to build flexibility into every process. Rather than chasing trends, leaders should focus on systems that evolve with business needs and can scale sustainably.
Where do you see opportunities for collaboration between solution providers, resellers, and businesses to better support procurement teams?
Michael and Pradeep both agreed that stronger collaboration accelerates progress. Knowledge-sharing and accessible technology help smaller organizations build procurement capability faster and more effectively.
Across every topic discussed, one theme stood out: alignment.
Procurement transformation begins with connecting people, processes, and technology in ways that support real-world needs, with visibility, collaboration, and simplicity forming the foundations of progress.
Veriscape enables organizations to achieve that alignment by integrating seamlessly with existing systems, delivering real-time visibility, and empowering teams to focus on strategic outcomes.
Procurement is evolving. With the right tools and partnerships, today’s challenges become tomorrow’s competitive advantages.