The Global Chief Procurement Officer Survey 2018
Over 500 procurement leaders from 39 countries representing organisations with a combined annual turnover of $5.5 trillion took part.
Focus in procurement shifted towards innovation and value, requiring an acceleration in the change in leadership, talent and innovation.
Procurement has continued to deliver short-term savings and manage risk to support growth during a period of uncertainty. As the economy improves, procurement has to increase supply chain transparency, accessing supplier innovation and delivering enterprise wide cost reduction. Exceptional procurement, supplier, business and digital leadership will differentiate those organisations that will make an impact that matters.
- Cost reduction (78 percent), new products/market development (58 percent) and managing risks (54 percent) remain the top business strategies for procurement leaders.
- 61 percent of procurement leaders delivered better year-on-year savings performance than last year.
- Supply chain transparency is poor, with 65 percent of procurement leaders having limited or no visibility beyond their tier 1 suppliers.
- 73 percent of procurement leaders believe they have the support of their organisation’s leadership.
- 51 percent of procurement leaders believe their current teams do not have sufficient levels of skills and capabilities to deliver on their procurement strategy
- The most common leadership traits are acting as a role model, collaborating internally and externally to deliver value and ...