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Procurement 'becoming vital to firms seeking savings'

24 November 2011

Proper procurement management will continue to be of the utmost importance to firms in the coming years, as its role within organisations changes.

Companies seeking increased profitability and savings will continue to look to procurement as it becomes a "strategic business advisor to internal stakeholders", a new report suggests.

Rosslyn Analytics' predictions for procurement executives next year say change is on its way, with mass take-up of data services located in the cloud.

Describing this as a "disruptive trend", chief executive officer Charles Clark said it will be driven by team members in the mid to entry-levels of procurement who "expect information at the click of a mouse" and "will influence procurement's own buying requirements".

Rosslyn also forecast the realisation for executive teams of procurement's true value and the growth of its stature within organisations.

Its research follows a report from global consulting firm AT Kearney, which suggested that 80 per cent of companies worldwide are putting themselves at risk of major disruptions to supply, due to poor risk management.

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Categories: Functional Practices

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