August, 24, 2012
CPO Exchange releases results of pan-industry, C-level procurement survey:
- 83% of procurement leaders agree that they need to rethink their procurement strategies to better position their organisations to tackle present and future challenge
- 57% are aiming for cost reduction and better control of spend to improve efficiencies and gain greater influence in the organisation;
- 45% of respondents are looking to improve stakeholder management and communication and;
- 39% aim to streamline internal processes through deployment of procurement technologies.
Over the last six months IQPC Exchange spoke with a pan industry group of C-level procurement leaders spanning Europe, Asia, Africa and the Middle East to find out what strategies they have put in place to safeguard their organisations in the unsettled economic and political climate and how are their procurement departments are responding to the fact that volatility is the new ‘normal’.
83% of procurement leaders agree that they need to rethink their procurement strategies to better position their organisations to tackle present and future challenges. Consequently, procurement risk management and supplier risk management came up as a top priority for 62% surveyed.
Gathering business intelligence about their suppliers and key markets, closely monitoring critical KPIs and spreading their risk by having more suppliers are further strategies mentioned.
Livia Trubenova, Head of Research at the CPO Exchange, commented on the results: “This fascinating survey is just the start of our continuing research with CPOs. We can already see that procurement leaders are working on growing the influence of and recognition for the procurement function within their organisations – I look forward to the lively debate and benchmarking at the next CPO Exchange!”
The CPO Exchange will be releasing expert views on these and other topics through speaker interviews and updated research findings with C-level procurement leaders on the CPO Exchange website http://www.cpoexchange.co.uk/PR. You can get involved by joining the CPO Exchange group on LinkedIn CPO Exchange to engage with leading procurement professionals.
The CPO Exchange is an invitation only event which brings together the most forward-thinking leaders in procurement to discuss strategic issues shaping their and your business agenda. This forum offers a perfect setting for leaders in procurement to network, benchmark and discuss effective business strategies. Attendees will tailor their agenda by selecting from a range of keynote presentations, lively panel debates, peer sharing roundtable discussions, interactive BrainWeave sessions and one-on-one business meetings of their choice.
* Senior procurement professionals
About IQPC Exchange
IQPC Exchange provides business executives around the world with tailored practical conferences, large scale events, topical seminars and in-house training programmes, keeping them up-to-date with industry trends, technological developments and the regulatory landscape.
SOURCE IQPC Exchange
- Where can Procurement Do More in the Area of Risk Management (Part 5)? (spendmatters.com)