Global Debt Markets: The Real Crisis Behind the Headlines

Recent shifts in debt yields have surprised many market participants, prompting questions not only about tariffs but also the broader health of the global economy. While supply chain commentary will be covered in the upcoming SKILLSOOP Monthly Report (June edition), this update will focus on the deeper systemic issue at hand—one that tariffs merely distract from: the escalating risks in the global debt and banking systems.

The long end of the yield curve is under significant pressure. In the United States, the 30-year Treasury yield is nearing 5%, while the 10-year is approaching 4.5%. Across the Atlantic, the UK 10-year yield sits close to 4.7%, with the 30-year touching 5.42%. These elevated levels are not isolated phenomena—they reflect widespread stress in sovereign debt markets.

One of the most alarming signals comes from Japan. With a staggering debt-to-GDP ratio of 260%, a shrinking population, and ongoing currency challenges, Japan’s 10-year yield has crept up to nearly 1.5%, with the 30-year nearing 3%. This is particularly significant given Japan’s pivotal role in global finance through the yen carry trade. The Bank of Japan (BOJ) is now caught in an impossible position: defend the economy or defend the currency—each choice comes with deep global repercussions.

In the U.S., former President Trump has pushed aggressively for lower rates, clashing with Fed Chair Jerome Powell, who has resisted calls to cut. Cutting rates would imply an increase in bond prices—something the current market dynamics don’t support. The Fed has quietly re-entered the bond market through quantitative easing (QE), trying to suppress yields, but the effort appears increasingly ineffective.

Japan, for its part, has publicly acknowledged that its debt situation may now be worse than the crisis that engulfed Greece a decade ago. With such levels of fiscal vulnerability, any shift in bond market confidence could trigger cascading effects throughout the global financial system.

Much of the media attention has focused on tariffs, but they are only one piece of a larger inflation management puzzle. Energy prices—central to all inflation metrics—have become a focal point of U.S. foreign policy. Trump’s visit to the Middle East is as much about securing energy flows as it is about diplomatic negotiations.

Meanwhile, Saudi Arabia is increasing oil supply while tariffs restrict supply chains, dampening demand. The aim is to lower the Consumer Price Index (CPI) and justify interest rate cuts. However, these interventions are not succeeding in capping long-term yields, as SKILLSOOP has long forecasted.

Rising long-term yields spell trouble for consumers and asset markets. Leverage becomes more expensive, impacting sectors like housing and auto loans. More critically, equities markets—which rely heavily on low borrowing costs—face devaluation risks.

In a low-interest-rate environment, companies have used cheap debt to finance dividends, share buybacks, and expansion. But as borrowing costs rise and central banks lose control of long-end yields, equities will lose their appeal. This directly erodes consumer wealth and disposable income.

In Australia, the government’s move to tax unrealised capital gains on superannuation funds exceeding $3 million could have significant knock-on effects. While aimed at increasing revenue, this policy risks backfiring:

  • Investors may shift funds from equities into property or offshore vehicles, draining capital from domestic businesses.
  • Higher property investment could inflate housing prices further, worsening affordability.
  • Lower private sector investment will likely impact employment and tax revenues, compounding the budgetary shortfall.

This highlights a classic case of excess burden—where the cost of taxation outweighs the revenue it generates due to changes in economic behaviour. Efficient taxation relies on targeting less elastic sources of revenue—those that don’t prompt significant behavioural shifts. The current approach risks triggering the opposite effect.

While tariffs and CPI figures dominate the headlines, the real structural risk lies in the global debt markets and central banks’ waning control over long-term yields. Investors, policymakers, and consumers should prepare for a prolonged period of volatility. The yield curve is not just reacting to inflation—it’s flashing warning signs about the very foundation of the global financial system.

So How Do Banks Really Work?

The mainstream understanding of how banks operate is deeply flawed—and according to economist Richard Werner, it’s not by accident. As the author of Princes of the Yen and the originator of quantitative easing (QE), Werner has extensively challenged conventional economic thinking, and the dominant role central banks play in shaping monetary policy. His work offers a critical perspective on the inner workings of the global banking system and its influence on economic outcomes.

The Great Misunderstanding: What Most People Get Wrong

Surveys and research indicate that around 85% of people do not understand how banks actually work. The common belief is that banks function by taking in customer deposits, keeping them safe, and lending them out at a profit. This model suggests a simple intermediation function between savers and borrowers.

But Werner’s research reveals something entirely different.

Retail banks don’t lend out deposits—they create money by issuing credit.

According to English law, a deposit at a bank is not held in custody but rather becomes a liability on the bank’s balance sheet—a record of what the bank owes you. When banks issue loans, they simultaneously create deposits, effectively generating money “out of thin air.” In Werner’s view, credit creation is the single most powerful force in the economy, yet it’s often overlooked in macroeconomic models.

Who Actually Creates Money?

  • Central banks account for only about 5% of the total money supply.
  • Retail banks create the remaining 95% through the process of credit creation.
  • Governments, contrary to popular belief, create virtually zero money directly.

This means that when politicians talk about new spending or investment programs, they are relying on either debt or taxation, not newly created money. These decisions can have profound implications for economic behaviour and capital allocation.

Why Credit Allocation Matters

Werner argues that how and where banks allocate credit is more important than headline monetary or fiscal policy. For example:

  • When banks direct credit towards productive investment (e.g., small businesses, infrastructure, innovation), economies experience real growth.
  • When banks channel credit into financial assets (e.g., property, stocks, hedge funds), it fuels asset bubbles and ultimately leads to economic busts.

In the UK, five large banks dominate about 80% of all deposits. Their lending tends to favour institutions and asset speculation, not small businesses. Werner promotes the decentralisation of banking, arguing that small, community-based banks are far more effective at funding real economic activity.

Decentralised credit creation = sustainable, inclusive growth.

The Truth About QE and Inflation

Werner also explains why quantitative easing (QE) often has unpredictable effects on inflation and growth. His distinction between two types of QE is crucial:

  • QE1: Central banks purchase non-performing assets from banks to clean up their balance sheets. This is largely non-inflationary as it is an interbank transaction and does not inject money into the real economy.
  • QE2: Central banks purchase assets from non-banks (open market operations), which does create credit in the real economy and can be inflationary.

In 2008, QE1 helped stabilise U.S. banks after the financial crisis. However, in 2020, the Federal Reserve moved directly to QE2—buying assets via BlackRock from non-banks at a time when demand was already high and supply chains were broken. This approach, Werner argues, artificially fuelled inflation during a time of global fragility.

Rethinking Interest Rates and Growth

Mainstream economics teaches that lower interest rates stimulate growth, and higher rates dampen it. Werner contests this idea:

  • He claims no empirical studies support the inverse relationship between interest rates and GDP growth.
  • Instead, he asserts that interest rates follow growth—not the other way around.
  • In periods of high growth, interest rates rise as a response.
  • In periods of low growth, rates fall—but they do not cause the recovery.

Thus, interest rates are lagging indicators, not effective tools for managing real-time economic dynamics.

The Problem with GDP and Centralised Power

Werner also challenges the usefulness of GDP as an economic measure, calling it “economic waffle”—a concept created to justify interest rate mechanisms. He views it as disconnected from real economic activity and overly influenced by banking interests.

Moreover, central banks and large financial institutions have, in Werner’s view, orchestrated a long-term strategy to consolidate power, crush small banks, and centralise money creation. This is seen in the economic contraction of countries like Germany, now in its third consecutive year of decline, and the financial devastation experienced by Greece, Spain, and Portugal after policy missteps from 2004 to 2009 under ECB influence.

Why This Matters for Today’s Economy

Understanding the real mechanics of banking matters because credit creation—and who controls it—shapes every facet of economic life: investment, employment, housing, inflation, and even political stability.

Werner warns that without a paradigm shift in economic thinking—one that puts banking at the centre of macroeconomic models—governments and central banks will continue to misdiagnose crises, apply ineffective solutions, and fuel a cycle of bubbles, busts, and inequality.

Key Takeaways

  • Retail banks create most of the money supply through credit.
  • Deposits are liabilities, not funds waiting to be lent.
  • Productive credit allocation supports sustainable growth; speculative lending inflates bubbles.
  • QE has two forms, only one of which impacts inflation directly.
  • Interest rates are lagging, not leading, indicators of growth.
  • A return to decentralised banking—thousands of small local banks—can drive equitable economic expansion.
  • The current system increasingly centralises power, risks systemic collapse, and stifles long-term growth.

This understanding redefines the way we should view banks—not as neutral intermediaries, but as powerful engines of monetary creation whose decisions shape the very fabric of modern economies.

How to Build a Resume

As more candidates begin to actively explore new opportunities, we thought it timely to share some resume guidance that may support your preparation. The intention here is not only to help you craft a document that effectively integrates your skills and experience, but also to guide you through a reflective process that will enhance your interview readiness.

For many of you whom Richard has met with over the past 12 months, the points outlined below will likely sound familiar—we’ve covered similar ground in our conversations. However, it’s always helpful to revisit these fundamentals with a fresh perspective.

Understanding the Purpose of Your Resume

At its core, your resume is a sales brochure—designed to present you as an asset to potential employers. One common misstep is trying to document your entire career from start to finish. Your resume should be selective, structured, and purposeful. Its key objectives are to:

  • Showcase your ability to present information clearly – this includes grammar, spelling, and efficient communication.
  • Enable comparison – recruiters often scan multiple resumes, and yours needs to stand out in structure and content.
  • Support a risk assessment – employers are assessing whether your background aligns with their risk appetite.
  • Demonstrate alignment – it should be clear how your skills and experience match the role on offer.
  • Act as interview rehearsal – this is often overlooked. Your resume should serve as a foundation for articulating your experience under interview conditions.

While points 1–4 is generally understood, point 5 is critical. It’s not just about what you’ve done—it’s about how well you communicate it. The best candidate is not always the one with the deepest experience, but often the one who can clearly articulate their skills, decisions, and achievements in a compelling way.

How to Think About Resume Writing

When preparing your resume, imagine you are writing a presentation for an audience. It needs:

  • A logical flow of information
  • Clear, relevant highlights
  • Engaging content that holds attention

Success comes when your resume and interview tell the same story—when the written document aligns with how you verbally present your experience.

Resume Pitfalls: Buzzwords vs. Substance

We’re seeing a trend, possibly influenced by AI tools, of resumes overloaded with keywords like “sourcing,” “contract management,” or “cost reduction.” While this might help pass an initial keyword screen, it often lacks depth and context. The word “Sourcing,” for example, could mean vastly different things across 50 resumes.

What separates a strong resume from the rest is the detail behind the labels. For example:

  • Why was sourcing required—was it to resolve an issue or seize an opportunity?
  • What was the business context or strategy?
  • What products or services were involved?
  • Was it a domestic, regional, or global effort?
  • What was the spend involved?
  • What were the subcategories or key risks considered?

A useful structure to follow is Problem/Opportunity → Actions Taken → Results Achieved

This narrative not only strengthens the resume but also primes you to speak confidently during interviews.

Professional Summary As a dedicated Category Manager with a robust background in procurement, David brings over 10 years of professional experience. With a foundation in chemical engineering and hands-on experience across diverse portfolios, David offers strategic insight and proven results—even without formal tertiary qualifications.

He is actively seeking new opportunities that leverage his expertise in sourcing, stakeholder engagement, and category management, with a preference for collaborative environments.

David has managed portfolios ranging from $50M–$100M across Marketing, Recruitment & Labour Services, Travel, Utilities & Energy. His experience spans Pharmaceuticals and Banking & Finance—industries where he’s driven measurable outcomes under pressure.

David is both an enabler and a driver of continuous improvement, with team leadership experience, advanced Excel skills, and proficiency in JD Edwards, Oracle, and SAP ARIBA. His ability to foster strong stakeholder and supplier relationships is a standout.

Key Achievements

  • Pharmaceuticals – Category Management In 2021, managed an $80M marketing spend (covering media, print, advertising, and events,) addressing vendor reliability risks and cost creep. David developed a 36-month category plan yielding 6% cost savings per annum, and shared outcome equity via long-term agreements, while improve ROI by 3%.
  • Pharmaceuticals – Stakeholder Management In 2020, David addressed stakeholder misalignment across a $30M labour spend. Business was decentralised (3 P&Ls). David initiated targeted workshops for a period of 1 month while improving data promotion highlighting benefits of synergy. David improved P&L collaboration across the labour utilisation, which optimised project delivery outcomes by 17%.

Each of these examples follows a clear structure and provides meaningful detail that elevates the resume beyond generic descriptors.

Market Overview: Equities and Liquidity Constraints

In a recent economic commentary, market analyst Francis Hunt forecasts a bearish outlook for equities, emphasizing the absence of sufficient market liquidity to support a “melt-up” scenario. Hunt argues that in the event of a market downturn, a rapid recovery is unlikely. The decline in revenues among the “Big Seven” tech and large-cap firms will not be offset by gains in lower market capitalization equities. Given the disproportionate weighting of these companies within indices such as the S&P 500, replacement gains would require nearly double the percentage increase to compensate for equivalent losses, which is deemed unsustainable in the current climate.

Quantitative Easing (QE), historically a key driver of equity growth since 2009, is no longer providing the same tailwinds. Prior to 2008, interest rate cuts played a central role in market surges. However, with the current policy environment less conducive to such interventions, the support mechanisms for equities have significantly weakened.

Despite a recent increase in the U.S. M2 money supply—reaching levels previously seen during the COVID-19 stimulus phase—the associated velocity of money has declined. This suggests that while monetary expansion is occurring, it is not translating into increased consumption, as evidenced by stagnating GDP figures. The dynamic points to structural economic fragility, rather than a liquidity-driven recovery.

Gold vs. Bonds: Recession Indicators and Safe-Haven Flows

The U.S. economy appears to be entering a recessionary phase, with the federal funds rate currently at 4.2%. Geopolitical pressures further compound the risk. Both China and Japan—major holders of U.S. debt—possess the capacity to influence Treasury yields significantly. A large-scale selloff of U.S. bonds by either country could precipitate a surge in interest rates, independent of Federal Reserve policy.

The bond market is displaying a classic “head and shoulders” pattern, typically indicative of forthcoming interest rate increases. With bonds no longer classified as Tier 1 capital assets and the traditional 60/40 investment model increasingly ineffective, investors are reevaluating their portfolios.

Gold has emerged as a preferred risk-off asset, drawing unprecedented demand from hedge funds, central banks, and high-net-worth individuals. It has decoupled from its historical correlations with real interest rates, the U.S. dollar, and oil prices. After a temporary pullback to $3,200 USD, gold remains a core safe haven. Concurrently, oil prices have declined to $61.70 USD, down significantly from $82 USD at the end of 2024, reinforcing the narrative of weakening global demand.

Cryptocurrencies may also offer alternative store-of-value potential, although their resilience remains untested in recessionary environments.

Business and Supply Chain Dynamics

Global supply chains are under renewed pressure. Container ships are currently being held in China, raising concerns over a potential supply crisis within 40 days, particularly for critical packaging materials in the U.S. Domestic inventories are being driven down, while 42% of U.S. banks are declining mortgage rollovers and 66% of auto loans are being rejected—indicating a credit contraction and consumer pullback.

Apple Inc., as a notable example, is shifting production of iPhones to India, leveraging its strong balance sheet to mitigate geopolitical and cost-related risks. COVID-19 highlighted the vulnerability of global Just-In-Time (JIT) supply models and the need for resilient planning. While some companies have adjusted their supply chain strategies to account for risk, many remain reactive rather than proactively structured for long-term shifts.

The imposition of tariffs has compounded these stresses, creating bottlenecks and the risk of trade shocks, especially in the event of retaliatory actions or bans against U.S. goods.

April saw a sharp drop in container volumes entering the U.S., although activity is beginning to recover. However, shipping routes have been disrupted, with vessels detouring around Africa, extending delivery times. The U.S. undertook front-loading of imports to offset anticipated tariff impacts, leading to overstocked warehouses and strained working capital—especially damaging for cash flow and inventory efficiency for the rest of the year.

Production costs are rising due to fragmented assembly and rising input costs. The strategic pivot from Chinese manufacturing to other emerging markets is underway but the benefits are not immediate. SMEs that weathered the COVID crisis now face new headwinds that could prove fatal. Shipping rates have declined in response to dampened demand and trade restrictions. However, this trend is fragile and could reverse quickly, particularly in the context of escalating conflicts in the Middle East.

Procurement Implications and Strategic Considerations

Tariffs are poised to create significant cost pressures across procurement operations. This period represents a crucial opportunity for businesses to re-evaluate supplier portfolios and better align procurement strategies with both internal operational needs and evolving customer demands. Close collaboration between procurement, production, and supply chain planning (including logistics and warehousing) is imperative. Strong communication and integrated data systems will be essential for optimizing efficiency and mitigating cost escalations. Key indirect spend categories—such as Maintenance, Repair, and Operations (MRO) and freight—must be strategically managed in conjunction with Cost of Goods Sold (COGS). Harmonizing procurement and supply chain operations will be vital in managing risk while navigating a contracting economic environment.

Conclusion

The global economy is entering a complex period of contraction, marked by declining consumption, geopolitical risk, and fractured supply chains. While liquidity is rising nominally, structural issues—such as declining money velocity and constrained credit access—suggest deeper problems. Gold has solidified its role as a reliable safe haven, and the bond market’s volatility poses long-term challenges for traditional portfolio management. Businesses, particularly those with international supply chains, must act decisively to reassess sourcing strategies, manage operational risks, and conserve capital. The coming months will demand agility, foresight, and strategic coordination across all tiers of enterprise operations.

SKILLSOOP Economic Report May 2025

  • • Supply Chain Commodity Inputs & Trends
  • • Australian Economy – Economic Metrics & Analysis
  • • Japan’s Economy – Trends/Considerations
  • • China’s Economy – Trends/Considerations
  • • US Trade War & Economy – Analysis

Australia

The recent appreciation of the Australian dollar (AUD) against the US dollar is primarily driven by the latter’s economic instability, as the United States continues to isolate itself from key global partners in Asia and Europe. However, this perceived strength of the AUD is largely illusory. When measured against tangible assets such as land, real estate, and gold, the currency is in fact weakening in real terms. Official figures place Australia’s inflation rate at 2.4%. Yet, recent surveys suggest that the cost of a standard basket of consumer goods has risen by 64% over the past three years, highlighting significant discrepancies in how the Consumer Price Index (CPI) is calculated and questioning its accuracy as a measure of cost-of-living changes.

Australia’s annual GDP growth currently stands at 1.3%, with the total GDP valued at AUD $1,728 billion. Sectoral contributions show a rise in government spending, utilities, and agriculture, whereas mining, construction, and manufacturing are experiencing a downturn. Labour market dynamics further underscore economic headwinds. Labour costs are increasing amid declining productivity, job vacancies are falling, and wage growth continues to stagnate in the private sector. These indicators collectively point to a challenging economic environment, despite superficial currency strength.

Import prices have also been on an upward trend, although this may moderate if the current strength of the Australian dollar persists—likely, given the continued engineered weakening of the US dollar. Meanwhile, the Reserve Bank of Australia (RBA) has maintained the official cash rate at 4.1%. Notably, the RBA’s balance sheet has expanded, potentially signalling a return to quantitative easing practices, such as bond purchases, aimed at managing yield volatility amid heightened global debt market turbulence.

Australia has, for a long time run an account deficit, a long-standing structural feature of its economy,  meaning the nation remains a net borrower. This deficit is calculated through the sum of net exports, primary income (which includes returns on labour and capital), and secondary income (mainly interbank transfers between residents and non-residents). While persistent, this borrowing position becomes more precarious under deteriorating global financial conditions.

On the domestic front, leading indicators point to a slowing economy. The Manufacturing Purchasing Managers’ Index (PMI) has resumed its downward trajectory, paralleled by a decline in the services sector and a notable drop in capacity utilisation. This metric—reflecting how effectively businesses deploy resources—suggests overinvestment relative to prevailing demand, potentially prompting structural adjustments across key sectors. According to observations by SKILLSOOP, these shifts are already underway in both manufacturing and mining operations. The broader business environment is also under strain. Corporate bankruptcies are rising sharply, while sentiment among small businesses and consumers continues to erode. Overall, the trends reflect a fragile economic backdrop that may require careful policy calibration in the months ahead.

Japan

Japan is currently grappling with mounting debt challenges, exacerbated by a strengthening Yen. The United States is reportedly aiming to stabilize the USD/JPY exchange rate within the range of 100 to 120 to boost American export competitiveness. At its weakest point, the Yen traded at 160 to the dollar. A significant appreciation of the Yen will have adverse implications for Japanese exports, as the cost of goods increases in foreign markets—even in the absence of new tariffs—potentially raising the price of Japanese imports into the U.S. by 10% to 15%.

This currency dynamic comes at a time when global demand for imports is softening. Notably, U.S. demand for container shipping has fallen by 64%, underscoring a marked contraction in import activity and broader economic stress. For Japan, this trend could lead to significant fiscal pressure: with debt servicing already consuming approximately 10% of government revenues, any further decline in tax receipts due to economic slowdown will amplify the fiscal burden.

In addition to currency-related challenges, Japan is facing intensifying competition from China across key export markets. In March, Japanese export growth contracted by 4%, a sharp drop from the 11.4% increase recorded in February. While existing tariffs on metals such as steel and aluminium had already been factored into this downturn, the effects of new U.S. tariffs on vehicles have yet to be fully realized. See spot price in commodity charts

The situation is further compounded by declining exports to major Asian markets. Exports to China have dropped by 5%, while those to Hong Kong and Taiwan are down nearly 20%, and to South Korea by approximately 12%. Particularly concerning is the contraction in semiconductor capital equipment exports—a critical segment for Japan’s advanced manufacturing sector.

While the United States is unlikely to welcome any large-scale divestment of U.S. Treasuries by Japan, Tokyo finds itself in a precarious position. Rising interest rates and a stronger Yen increase the real value of Japan’s debt obligations. Although a significant portion of this debt is domestically held—somewhat mitigating the risk—the overall economic picture remains fragile, with limited margin for fiscal or monetary missteps.

China

Capital is increasingly moving into alternative government bonds (US pivot) and gold, signalling a shift in global financial sentiment. The world may be undergoing a process of de-dollarization, as concerns grow over the sustainability of U.S. debt. While it’s unlikely that the U.S. dollar will completely collapse, it is becoming more probable that it will serve as just one of several reserve assets in a diversified global system. The practice of borrowing money to pay for past borrowing seems to be reaching its limits, suggesting that the financial game may be up.

One pressing question is whether China is actively dumping U.S. Treasuries—a move that would reflect a broader economic decoupling between the two powers. There is little doubt that a significant economic breakup is underway. Amid rising tensions, China is using the ongoing trade war as an opportunity to strengthen its regional relationships across Asia. Although China has historically had numerous political and ideological differences with its neighbours, these may become secondary as countries seek to diversify their trade partnerships and reduce dependence on Western economies.

The China’s economy, heavily reliant on exports, faces its own set of challenges, particularly as global demand for manufactured goods declines. This downturn puts immense pressure on government finances and employment. Nevertheless, China remains in a relatively stronger position than the U.S., especially in terms of industrial production capacity and geopolitical leverage—both of which have been amplified by the alienation of U.S. allies during the Trump regime. Furthermore, China’s advancements in surveillance and technology provide the government with tools to manage social unrest more effectively.

Despite these strengths, China is not without vulnerabilities. The property market is in severe decline, mirroring some of the economic weaknesses seen in the U.S. Moreover, China, like the U.S., is adopting a more aggressive stance toward nations that engage in trade deals with its rival, adding to the global climate of economic and diplomatic tension.

US

Capital is increasingly moving into alternative government bonds (US pivot) and gold, signalling a shift in global financial sentiment. The world may be undergoing a process of de-dollarization, as concerns grow over the sustainability of U.S. debt. While it’s unlikely that the U.S. dollar will completely collapse, it is becoming more probable that it will serve as just one of several reserve assets in a diversified global system. The practice of borrowing money to pay for past borrowing seems to be reaching its limits, suggesting that the financial game may be up.

One pressing question is whether China is actively dumping U.S. Treasuries—a move that would reflect a broader economic decoupling between the two powers. There is little doubt that a significant economic breakup is underway. Amid rising tensions, China is using the ongoing trade war as an opportunity to strengthen its regional relationships across Asia. Although China has historically had numerous political and ideological differences with its neighbours, these may become secondary as countries seek to diversify their trade partnerships and reduce dependence on Western economies.

The China’s economy, heavily reliant on exports, faces its own set of challenges, particularly as global demand for manufactured goods declines. This downturn puts immense pressure on government finances and employment. Nevertheless, China remains in a relatively stronger position than the U.S., especially in terms of industrial production capacity and geopolitical leverage—both of which have been amplified by the alienation of U.S. allies during the Trump regime. Furthermore, China’s advancements in surveillance and technology provide the government with tools to manage social unrest more effectively.

Despite these strengths, China is not without vulnerabilities. The property market is in severe decline, mirroring some of the economic weaknesses seen in the U.S. Moreover, China, like the U.S., is adopting a more aggressive stance toward nations that engage in trade deals with its rival, adding to the global climate of economic and diplomatic tension.

According to Steve Hanke, a renowned American economist and professor of applied economics at Johns Hopkins University, geopolitical trust in the U.S. economy is deteriorating. Hanke argues that the United States is no longer adhering to its own legal and institutional frameworks. He highlights the unprecedented number of executive orders issued during the Trump administration as indicative of a broader regime shift—one with profound implications for both domestic governance and the international order. The West, he suggests, is under immense pressure.

One of Hanke’s most compelling observations is that the U.S. and broader Western economies are exhibiting characteristics typically associated with emerging markets. This is evidenced by declining performance in bonds, the U.S. dollar, and equities—hallmarks of financial instability. Hanke contends that the Trump administration is continuing many of the economic missteps initiated under the Biden presidency, albeit from a different ideological stance. While the Biden administration expanded credit, authorized trillions in federal spending, and forgave over 30 million student loans, Trump’s economic strategy is characterized by an aggressive retrenchment. This includes imposing tariffs, levying fines on Chinese-owned ships in U.S. ports (up to $50 per ton), and reversing student loan forgiveness to ensure those debts are repaid.

Although the reversal of some Biden-era policies may appear constructive to fiscal conservatives, the velocity of these changes is more consequential than the changes themselves. As with interest rates, it is not merely the direction but the rapid pace of movement that inflicts the most economic damage. Historically, average interest rates have hovered above 6%, shaping investment, consumption, and economic behaviour accordingly. Abrupt shifts in policy are akin to tearing off a bandage before the wound has healed.

Trump’s escalating trade war with China is also coming under scrutiny. While publicly framed as a strategic defence of American economic interests, the underlying motive is to proactively manage the decline of a global superpower, much like the late Roman Empire. U.S. policies of overleveraged consumption, rising debt, and military overreach have eroded the post-WWII global advantage. Notably, international demand for U.S. Treasuries has waned, evidenced by a recent boycott from primary dealers, who refused to absorb additional U.S. debt—an act that has contributed to rising 10-year bond yields, despite falling inflation.

Oil

Despite easing trade tensions between the U.S. and China, oil prices continue to decline, with Brent crude down 2% and U.S. oil prices plummeting 22% since their January peak. The prolonged price drop is driven by growing concerns over a global oil supply glut and recession fears exacerbated by recent trade policies. The EIA forecasts that global oil inventories will increase starting in the middle of 2025 as OPEC+ members unwind production cuts, production grows in non-OPEC countries, and oil demand growth slows. As a result, they project the Brent crude oil price will average $68 per barrel in 2025. Source EIA & Business Insider

Natural Gas

Policy uncertainties in major exporting countries, such as Australia, are causing concern among key importers like Japan. Potential shifts in export policies could impact global supply chains and pricing. While production remains robust, supply growth is not keeping pace with demand. The International Energy Agency (IEA) notes that global gas markets are set to remain tight in 2025 as demand continues to rise and supply expands more slowly than before the pandemic and energy crisis. Source EIA & Reuters

Copper

Copper prices are projected to experience moderate growth during May and June 2025, influenced by factors such as global demand, supply constraints, and macroeconomic conditions. The energy transition, including the adoption of electric vehicles and renewable energy infrastructure, is driving increased copper consumption. Global economic conditions, including industrial activity and construction, particularly in major economies like China, influence copper demand and pricing

Iron Ore

Iron ore prices are projected to remain under pressure during May and June 2025, influenced by a combination of oversupply, weakening demand, and geopolitical uncertainties. China’s property sector downturn continues to suppress steel production, leading to reduced iron ore consumption. Despite this, China’s iron ore imports are expected to reach a record high in 2025, driven by stockpiling of cheaper ore and increased supply from major producers. While some countries like India have seen growth in steel production, overall global steel output has declined, impacting iron ore demand. Sources Reuters & Discovery Alert

Aluminium

Aluminium demand is influenced by its applications in industries like transportation, packaging, and construction. While there is a general expectation of steady demand, recent adjustments in global economic growth forecasts have led to more conservative demand projections. Trade policies, particularly the imposition of tariffs, have introduced volatility into the aluminium market. For instance, recent tariff hikes have affected trade flows and could impact pricing dynamics. Aluminium prices in May and June 2025 are expected to experience moderate fluctuations within the $2,450 to $2,600 per metric ton range. Sources Reuters & ING Think

Impact Assessment: U.S. Tariff Policy and Global Supply Chain Reconfiguration

As of yesterday, the Trump administration’s latest round of tariffs has come into effect. These measures appear to be part of a broader strategy aimed not only at addressing a domestic fiscal imbalance—where debt obligations have surpassed 110% of tax revenues and are still rising—but also at reshaping the global economic and trade order that has been in place since the end of World War II.

At the heart of this policy shift is a push to devalue the U.S. dollar. Such a move would likely be inflationary, placing a significant burden on holders of U.S. Treasury bonds. This devaluation of the debt market appears necessary to reconfigure global supply chains, disrupt/control energy imports (including sanctions on Venezuela), assert control over key maritime logistics corridors, implement widespread tariffs, and secure access to strategic resources from neighbouring nations via take over.

However, the domestic economic realities present serious challenges. For tariffs to effectively drive a resurgence in domestic manufacturing, fundamental structural reforms would be required—such as eliminating income and corporate taxes and doubling domestic industrial output within a very short timeframe. Presently, the US manufacturing base lacks the capacity to meet even basic production needs; with annual imports exceeding $3 trillion, the notion of replacing these goods with domestic alternatives in the near term is unrealistic. As a result, consumer prices are expected to rise significantly, prompting the Federal Reserve to expand the money supply and open market operations. This will no doubt lead to stagflation.

Some economists suggest that one potential mechanism for achieving dollar devaluation involves raising the carry cost of U.S. Treasuries, thereby weakening the dollar, and reducing the real cost of servicing debt. This strategy would also erode the real value of wages, despite nominal increases, and could lead to the implementation of capital controls. Such measures may be required to realign the U.S. economy towards export competitiveness.

A weaker dollar, without protectionist tariffs, would offer an advantage to creditor nations enabling continued trade surpluses with the U.S., and may instigate capital flows into US equities in addition to gold. Nonetheless, this strategy is not without risk. It could result in significant capital flight, particularly from Chinese investors, thereby devaluing U.S. financial assets further, a key development in the stock market. Moreover, it may discourage investment from European and other international sources in response to perceived political and economic instability. If we add in Japan, which is seeing rising rates and a stock market that is falling, the yen carry trade imploding once again could be the real pin to explode the global bubble quicker than any country has an appetite to handle.

From a procurement and supply chain perspective, this policy trajectory will have considerable implications. Export demand is likely to decline, and a strengthening Australian dollar (AUD) relative to the U.S. dollar could further disadvantage Australian exporters in certain markets. In the short term, import prices may fall as surplus goods are redirected to secondary markets, but this will likely prompt retaliatory tariffs from affected countries seeking to protect their domestic industries. The cumulative effect could lead to a far more profound disruption of global supply chains than witnessed during the COVID-19 pandemic.

Considering these developments, supply chain and procurement leaders are likely conducting comprehensive risk assessments. These should include scenario planning based on currency fluctuations, revenue volatility, cost structure impacts, and potential fulfilment disruptions.

Navigating Economic Uncertainty: Strategic Cost Management and Workforce Adaptation

As global economic conditions continue to deteriorate, the United States is leveraging its consumer market to recalibrate trade dynamics, intensifying supply chain pressures on businesses. A primary challenge in this environment is cost management—maintaining supplier relationships while facing contracting revenue streams. Organizations must confront a critical dilemma: how to invest in future growth while employees fear job losses and boards anticipate increasing revenue declines. Recapitalization remains expensive, and cash reserves are rapidly depleting.

At SKILLSOOP, we have observed a growing trend of businesses reducing costs by downsizing roles within shared service functions, including procurement. This shift has been a significant shock to many professionals we engage with, as they report being fully utilized with a strong pipeline of opportunities to deliver value. However, while workforce reductions may temporarily improve cash flow, indiscriminate cost-cutting can have long-term repercussions. Although reducing headcount may enhance net asset value and return on capital employed (ROCE) in the short term, it risks undermining overall business performance, particularly in channel strategies. Poorly executed cost-reduction initiatives can lead to declining share prices and diminished book value over time.

In April, SKILLSOOP emphasized the need for organizations to rethink their approach. Adjusting profit and loss (P&L) levers alone may no longer be sufficient to correct underperformance, and businesses face the real danger of falling into a self-destructive cycle. Capital restructuring, without a well-defined strategic course of action, is unlikely to drive sustainable improvements. Success in these conditions requires decisive action—not only identifying key business challenges but also implementing tangible, strategic solutions. Organizations must move beyond aspirational mission statements and theoretical objectives, which offer little value when fiscal momentum has stalled. The ability to pivot and take bold, informed action will distinguish resilient companies from those that struggle to survive.

This period of transformation extends beyond businesses—procurement professionals must also reassess their core competencies to remain relevant in the evolving economic landscape. The shifting policy environment demands a recalibration of skills to align with new economic and regulatory realities. For example, the recent dismantling of multiple U.S. government departments under the Department of Government Efficiency (DOGE)—including the Department of Education—signals a broader trend of fiscal realignment. Regardless of individual perspectives on these policy changes, such measures will inevitably influence global markets. Reduced government spending and resource reallocation will drive efficiencies in tax and debt revenues, necessitating a transition from consumption-driven GDP metrics to investment- and productivity-focused private sector activities.

Moreover, evolving trade policies, including the review of U.S. tariffs on Australian steel and aluminium imports and potential corporate tax reforms, will reshape global market dynamics. These shifts necessitate proactive strategies from both procurement professionals and business leaders.

In an era of economic volatility, adaptability, strategic foresight, and decisive action will be the defining factors of success. The future belongs to those who can navigate uncertainty with resilience and a clear vision for growth.

The Future of Procurement: Strategic Evolution in the AI Era

A critical question emerges as we look ahead: What will businesses expect from procurement over the next decade, and how well do today’s procurement professionals align with those expectations? While predicting the future with absolute certainty is impossible, one undeniable reality is that artificial intelligence (AI) will fundamentally reshape procurement. AI is projected to automate at least 50% of procurement’s administrative and analytical functions, resulting in reduced employment, lower costs, decreased risk, and enhanced productivity. This transformation will inevitably reduce procurement headcounts, affecting the broader shared services sector and introducing economic challenges.

Given this shift, it is essential to examine which skills remain underdeveloped within the profession and how AI-driven efficiencies can enable procurement professionals to add greater strategic value. Historically, procurement has been viewed as a tactical function, often consumed by transactional purchasing tasks and contract renewals in under-resourced departments. Conversely, some organizations have over-invested in headcount while under-investing in process sophistication, leading to inflated budgets and suboptimal outcomes.

As a result, procurement professionals in the market tend to fall into three broad categories:

  1. Strategically Capable but Resource-Constrained (Group A): These professionals possess strategic procurement knowledge but lack the necessary time, support, or resources to execute effectively.
  2. Tactical Professionals Who Perceive Themselves as Strategic (Group B): These individuals believe they operate strategically but lack the depth, framework, or experience to deliver genuine strategic value.
  3. Genuinely Strategic and Empowered (Group C): A small subset of professionals who have deep expertise in procurement strategy and operate within organizations that enable them to execute at a high level.

For professionals in Groups A and B, the job market is set to become increasingly competitive. Both groups will contend for a shrinking pool of opportunities. Those in Group A—who often express frustration over their lack of strategic engagement—may be perceived as retention risks, while Group B may struggle to demonstrate tangible value. Many organizations speak of transformation but lack a true commitment to meaningful change, creating a challenge for professionals attempting to differentiate themselves. Both groups risk being constrained by businesses that aspire to be strategic but fail to provide the necessary infrastructure and leadership to support such ambitions.

Meanwhile, Group C represents only 10% of the market—professionals who not only understand procurement at a strategic level but have also been empowered by their organizations to implement their expertise effectively. These individuals often face difficulties in securing roles that match their level of sophistication. Many must consider trade-offs, such as accepting a pay cut for a more challenging role or relocating internationally.

This transition coincides with a broader global trend—governments shrinking in response to economic pressures. Countries such as Argentina have led the way in downsizing public sectors, a strategy now mirrored by the United States. This shift will exacerbate labor market challenges, as displaced procurement and shared services professionals will compete with public sector employees navigating the realities of the Fourth Industrial Revolution. Just as interest rates declined for half a century before a sharp correction, the long-standing trend of government expansion and industrial sector contraction in developed economies is reversing. However, as with financial markets, this correction will be disruptive and complex.

With AI projected to eliminate 50% of procurement’s tactical workload, demand for true strategic capability will increase significantly. Procurement professionals will face a stark choice: upskill or risk obsolescence. The next decade will belong to those who can transcend traditional procurement roles and embrace a strategic, value-driven approach.

The Importance of Technical Procurement Skills

At SKILLSOOP, we emphasize the critical importance of technical procurement expertise, actively assessing these competencies as part of our framework. In this context, “technical” refers to academic proficiency—candidates’ ability to interpret data and provide definitive insights, independent of broader business integration complexities. Our market analysis, presented in the graph on page 19, reveals substantial room for improvement across key procurement competencies.

Among the assessed capabilities, external analysis ranks highest, followed by internal analysis and risk management. However, financial aptitude, cost management, and negotiation preparation score the lowest. These findings raise several important questions:

  • How effectively is data being utilized to drive meaningful procurement outcomes?
  • If cost and risk reductions are being achieved within third-party networks, how are they being measured and sustained?
  • Who ultimately makes the most impactful procurement decisions—the P&L holder or procurement itself?
  • To what extent does procurement methodology directly influence business performance?
  •  

While rigid tender frameworks with strict pricing stances may be sufficient for short-term cost reduction, their long-term viability remains uncertain—particularly as AI-driven automation advances.

Key Technical Procurement Skills

The following core competencies will be essential for procurement professionals to remain competitive in an AI-driven landscape:

  1. Cost Management: Analysing key financial metrics to inform strategic supplier negotiations, demand management, and cost-reduction initiatives.
  2. Internal Analysis: Leveraging data-driven insights to identify opportunities, mitigate risks, and drive continuous improvement within supply chains.
  3. External Analysis: Assessing market trends, economic indicators, and geopolitical factors to optimize procurement strategies and create long-term value.
  4. Supplier Evaluation: Conducting in-depth technical and commercial assessments to enhance sourcing, supplier development, and risk mitigation.
  5. Third-Party Risk Management: Strengthening supply chain transparency and resilience in response to shifting global market conditions.
  6. Negotiation Preparation: Aligning procurement strategies with external market forces, industry trends, and corporate objectives to maximize shareholder value.
  7. Financial Aptitude: Interpreting financial data to support commercial decision-making and the development of robust procurement models.
  8. Supply Chain Fulfillment: Implementing best-in-class strategies to optimize performance, mitigate risks, and drive revenue growth.

The Path Forward

Procurement is at a crossroads. As AI reshapes the function, professionals must evolve beyond tactical execution to demonstrate strategic acumen. The ability to leverage data, manage risk, and drive commercial value will define success in the coming decade. At SKILLSOOP, we remain committed to equipping professionals with the tools and insights necessary to navigate this transformation. The future of procurement will not be determined by those who simply react to change—it will be shaped by those who anticipate it and take decisive action.

Procurement Strategy: Bridging the Gap Between Tactical Execution and Business Impact

A critical observation in procurement is that strategies often succeed in isolation—such as cost reduction initiatives—yet, when assessed within the broader business context, they can inadvertently increase risk exposure, impact revenues, and erode customer retention. Despite widespread discussions on procurement’s potential to drive business performance, many professionals struggle to link leading economic indicators to future risks. However, this challenge extends beyond economic literacy; it is fundamentally an issue of strategic comprehension.

Supply Chain Operational Execution

To excel in procurement and supply chain management, professionals must demonstrate expertise across multiple competencies:

  • Risk Management – Assessing and mitigating supply chain risks within complex ecosystems by analysing economic, financial, commercial, and reputational factors.
  • Channel Management – Evaluating sector, market, and customer dynamics to optimize product demand, enhance revenue generation, and mitigate supply chain disruptions.
  • Supplier Evaluation – Conducting in-depth risk assessments, considering supplier insolvency risks, mergers and acquisitions, intellectual property (IP) concerns, supply disruptions, sector trends, and competitive positioning.
  • Market Evaluation – Analysing external trends and macroeconomic forces that influence business performance, capital structures, competitive landscapes, and corporate reputation.
  • Procurement Execution – Aligning procurement activities with gross margins, operational expenditures (OPEX), supply risks, and revenue impact to ensure strategic coherence.
  • Cost Control – Implementing robust cost management strategies that account for supply chain risks, IP considerations, demand fluctuations, and market-specific variables.
  • Revenue Support – Identifying and mitigating revenue risks linked to current and future sales, ensuring that commercially viable supply chain strategies optimize costs while sustaining profitability.

By mastering these competencies, procurement leaders can elevate their strategic value, driving sustainable business performance beyond traditional cost-saving measures.

The Misconception of Strategy

Throughout my career, I have consistently asked candidates to define strategy—a question I have posed for over 20 years. The most common response is “goal setting,” with many professionals equating strategy to identifying a target and formulating a plan to achieve it. This perspective frequently leads to examples of so-called “strategic achievements,” such as relocating a manufacturing plant or adopting a new procurement model. While these initiatives can be components of a strategy, they are not inherently strategic; rather, they are tactical business plans executed in service of a broader agenda.

A true strategy is a response to a core business challenge, and its success depends on accurately identifying the underlying issue a company faces. SKILLSOOP assessments consistently reveal that the most significant gap in procurement capability is the inability to diagnose the real business problem. (Refer to Graph on Page 23.) Once the root challenge is correctly identified, strategy formulation and execution improve dramatically.

Strategy begins with a deep understanding of the business environment—interpreting information accurately and then aligning coordinated actions, policies, and resources to implement a meaningful solution. The most complex aspect of strategy is interpretation, as new strategies often emerge from revised perspectives on existing data.

The Contradictions in Procurement Strategy

A recurring pattern in SKILLSOOP’s strategy assessments is that most procurement strategies focus on revenue growth rather than risk mitigation or cost reduction. Others attempt to address multiple objectives simultaneously, leading to contradictory initiatives that erode value. When procurement strategies are misaligned with core business issues, conflicts emerge between policy and execution—ultimately increasing costs, amplifying risks, and undermining long-term revenue potential, despite intentions to optimize them.

Fundamentally, procurement does not need to be deeply embedded in broader corporate strategy. Its primary role is to ensure effective procurement modelling that aligns with branding, internal politics, and financial structures to enhance efficiency and cost control. For most procurement professionals, mastering category strategy planning is sufficient for achieving optimal performance within a procurement function.

However, for those in senior leadership roles—General Managers (GMs), Chief Procurement Officers (CPOs), or Portfolio Managers—who aspire to executive positions beyond procurement, enhancing strategic competencies becomes essential. The ability to integrate procurement with corporate strategy, risk management, and revenue optimization can significantly strengthen a leader’s credibility, influence stakeholders, and create pathways to board-level impact.

In the evolving landscape of procurement, professionals who cultivate a comprehensive strategic skill set will distinguish themselves as industry leaders—capable not only of optimizing procurement functions but also of shaping broader business success.

Example of IMPACT Resume

MICKY MOUSE
CAPABILITY RESUME

Qualifications: MBA, MCIPS
Mobile: 0444 444 555
Email: mmouse@gmail.com


Candidate Summary

A highly accomplished and tertiary-qualified (MBA) procurement professional with extensive experience in FMCG, Retail, and Mining sectors, managing procurement spends of up to $750M across portfolios including Packaging, MRO, Co-Pack, and HME. Proven expertise in leading high-performing teams of up to 20 FTEs, with a strong focus on category strategy development, supplier negotiation, and P2P implementation utilizing advanced technologies such as Coupa and ARIBA. Seeking a leadership role in the private sector to drive revenue growth, manage risk, and optimize ROCE across complex third-party matrices.


Career History

EmployerTitleTenure
QantasProcurement DirectorMar 2008 – Aug 2024
NestléPortfolio ManagerJan 2002 – Feb 2008
BHPProcurement AnalystSep 1998 – Dec 2001

Key Achievements

Achievement 1: Category Management (MRO)

  • Reduced escalating MRO costs, which had been increasing 3.7% YoY on a $100M category spend.
  • Designed and implemented a new in-house MRO strategy, creating a dedicated MRO P&L to service similar businesses.
  • Converted a cost center into a revenue-generating unit, achieving $1.5M in cost savings, $3M in additional revenue, and $500K in NPAT.

Achievement 2: Leadership & Change Management

  • Successfully led the implementation of a $12M e-procurement system, streamlining transactions, reducing headcount, and integrating supplier networks.
  • Secured team buy-in through proactive communication and early adoption strategies, facilitating a seamless transition.
  • Repositioned 25% of team members into alternate roles and engaged a career management firm to assist a further 30%.
  • Delivered a projected net benefit of $21M over five years.

Achievement 3: BPO Facilities Management

  • Spearheaded a capability sourcing initiative for waste management, cleaning, MRO, and labor services, addressing a $50M annual spend across 20 plants.
  • Engaged and awarded a single outsource provider, optimizing service delivery and achieving $15M in savings over three years.
  • Ensured long-term P&L benefits through strategic design-phase solutions and rigorous supplier contract management.

Achievement 4: Facilities Cost Optimization

  • Delivered substantial savings by redefining utility and facilities management services across 20 plants.
  • Reduced costs by $15M over three years by leveraging outsourcing and strategic supplier engagement.

Achievement 5: Digital Transformation in Procurement

  • Drove the adoption of an advanced e-procurement system, integrating procurement processes and reducing recurring costs.
  • Positioned the organization for long-term operational efficiency with a projected five-year net benefit of $21M.
  • Demonstrated exceptional change management capabilities by re-skilling and redeploying 55% of the workforce impacted by the transition.

Example of Progressive Resume

MICKY MOUSE
CHRONOLOGICAL RESUME

Qualifications: MBA, MCIPS
Mobile: 0444 444 555
Email: mmouse@gmail.com


Candidate Summary

A tertiary-qualified (MBA) procurement professional with extensive experience across FMCG, Retail, and Mining sectors, managing spends of up to $750M across portfolios including packaging, MRO, Co-Pack, and HME. Proficient in leading high-performing teams of up to 20 FTEs, with expertise in category strategy development, negotiation, supplier development, and P2P implementation utilizing platforms such as Coupa and ARIBA. Currently seeking a senior functional role in the private sector to drive revenue, manage risks, and enhance ROCE across a complex third-party matrix.


Career History

Qantas

Title: Procurement Director
Tenure: March 2008 – August 2024

Employer Profile:
Qantas is the world’s third-oldest airline and an iconic Australian brand. With a turnover exceeding $19 billion, Qantas transports over 45 million passengers annually to more than 32 countries.

Role Overview:
As Procurement Director, managed a $500M spend portfolio encompassing MRO, Marketing, Packaging, and Finished Goods. Led a team of 12 FTEs, including category managers and analysts, to optimize value delivery while mitigating internal and external risks.

Key Achievements:

  • Category Management (MRO):
    Designed and implemented a new MRO strategy to address rising costs, converting a $100M cost center into a revenue-generating operation. Realized $1.5M in cost savings and drove $3M in additional revenue with an NPAT of $500K.
  • Leadership & Change Management:
    Spearheaded the implementation of a $12M e-procurement system, reducing headcount and streamlining procurement processes. Achieved a projected net benefit of $21M over five years, successfully repositioning 25% of the team and supporting an additional 30% through career transition services.
  • BPO Facilities Management:
    Delivered $15M in savings over three years through a capability-sourcing initiative for waste, cleaning, MRO, and labor services across 20 plants. Achieved significant P&L benefits through solution design and robust supplier contract management.

Nestlé

Title: Portfolio Manager
Tenure: January 2002 – February 2008

Employer Profile:
Nestlé is a leading Swiss multinational in the FMCG sector, with a diverse product portfolio including coffee, confectionery, dairy, and pet foods. Generating over $105 billion USD in annual revenue, Nestlé is recognized as one of the world’s largest FMCG companies.

Role Overview:
As Portfolio Manager, managed a $150M spend portfolio covering MRO, Marketing, Packaging, and Finished Goods. Led a team of 6 FTEs to optimize business value and align procurement strategies with organizational goals.

Key Achievements:
Details available upon request.


Nestlé

Title: Procurement Analyst
Tenure: September 1998 – December 2001

Employer Profile:
Nestlé’s Australian operations contribute significantly to the company’s global success. Renowned for market leadership and innovative practices, the organization is integral to Nestlé’s reputation as a global FMCG powerhouse.

Role Overview:
Supported procurement performance across MRO, Marketing, Packaging, and Finished Goods. Contributed to organizational efficiency and effectiveness through data-driven insights and strategic analysis.

Key Achievements:
Details available upon request.