Procurement's true value lies in building trust and resilience, industry gathering told

Procurement professionals must focus on building trusted relationships and supply chain resilience rather than simply driving down costs, delegates heard at a GenPro event focused on "End-to-End Connections,” as part of Posidonia.

Addressing attendees, Maria Theodosiou, Managing Director of GenPro, said the event's theme perfectly captured the essence of modern procurement and supply chain management, describing the industry as fundamentally people-driven rather than solely focused on contracts, pricing or systems.

"Procurement is often considered as contracts, pricing, systems and vendors, but in fact it is all about people," she said, highlighting the importance of collaboration between suppliers, clients and vessel owners in addressing operational and commercial challenges.

She warned that the industry is operating in an increasingly complex environment characterised by supply chain disruption, geopolitical instability, inflationary pressures, regulatory change and growing ESG expectations.

While acknowledging that pricing remains an important consideration, she argued that availability, reliability, transparency and accountability have become equally critical factors for global businesses.

She described procurement's role as creating the governance, structure and resilience needed to support supply chains, helping organisations make better decisions, reduce risk and maintain continuity during periods of disruption.

Reflecting on more than two decades in the sector, Maria said one of the industry's greatest strengths remains the long-term relationships and trust built between suppliers, customers and business partners.