If you would like to receive Perspective - our monthly newsletter – which brings you all of our latest news and views as well as interviews and opinion pieces then please follow the link below...
Increase in procurement outsourcing
More managers are opting to farm out procurement, according to a new study.
Everest Group's 2013 Procurement Outsourcing Annual Report shows there was a ten per cent increase in outsourcing last year as companies sought to limit their costs.
This led to the total value of the global procurement outsourcing market growing to $1.72 billion dollars (£1.13 billion). The report found consumer goods and manufacturing firms drove this increase as they looked to find new cost efficiencies.
However, the average contract length remained at a similar level to the past few years.
Everest's research showed that large firms continued to be the prime adopters of procurement outsourcing, although an increasing number of small and medium-sized firms are also farming out their buying services.
Saurabh Gupta, Everest Group vice-president, said the development of new technologies and indirect category expertise has allowed companies to reduce their procurement spend and compliance through outsourcing.
Odgers Interim are UK leaders in Interim Management solutions for the Commercial Sector. We have offices in London, Birmingham, Leeds, Manchester, Glasgow, Aberdeen and Cardiff as well as over 50 offices globally. We are the only Interim Management providers who are part of a top tier international executive search firm. We work closely with our executive search colleagues to find candidates who can offer short term solutions with long term benefits. www.odgersinterim.com