In large part, this is because much of the ‘low hanging fruit’ has already been harvested in terms of cost savings, leverage and price.
As a result, the report highlights that procurement functions need to extend their activities and take on a more strategic role within the organization. The survey results show a lack of focus on ongoing supplier relationship management and even less participation in the ‘make versus buy’ decision process. It also points at a lack of preparedness around supply chain risk. The report offers five key recommendations for tackling these challenges.
Read the full report The Power of Procurement (PDF 2.51Mb)