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Procurement 'gaining an increasingly prominent stature'

9 October 2011

The importance of effective procurement is becoming increasingly widely recognised by businesses and government bodies, according to an expert.

David Noble, chief executive officer of the Chartered Institute of Purchasing and Supply (CIPS), told attendees of the organisation's annual conference that the current economic climate has placed a spotlight on procurement "like never before".

He noted rising interest in purchasing managers' indices as evidence of this growing trend, as fluctuations in the procurement sector are having a prominent impact on the economy as a whole, reports Supply Management.

Mr Noble said this makes it important for "star players" to emerge in the purchasing industry, with recruitment of young, talented individuals becoming essential.

"The areas of risk and of the environment have all become very topical. There's no difficulty now of going to see senior government ministers to talk about this profession," he added.

This comes after research from Henley Business School at the University of Reading earlier this month suggested that better procurement policies will be essential to helping the UK climb out of the current economic slump.

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Categories: Functional Practices

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