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Savings 'the key priority for procurement staff'

8 September 2011

Achieving better value for money is to be the most prominent concern for procurement professionals in the coming years.

This is the conclusion of a new survey of global chief procurement officers (CPOs) conducted by Ardent Partners on behalf of SAP, Hubwoo and Bristlecone, which drew on the expertise of almost 250 participants.

It was revealed that finding and delivering savings will be the leading pressure on procurement staff between now and 2014, while improving processes is the next highest priority.

Key strategies on which staff are focusing include improved internal and supplier collaboration, as well as better sourcing coverage, while the electronic enablement of supply bases is a growing trend.

Other findings suggested an integration gap between contract management and operational procurement among many firms, showing the importance of unified processes in maximising performance.

This comes after a report from the Hackett Group last month suggested that improved procurement could help many firms to offset the impact of rising inflation.

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Categories: Functional Practices

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