They should also seek to balance the long-term benefits of the procurement function as a source of competitive advantage and market differentiation by focusing on the following:
- Having timely, accurate and insightful information as the key to efficient business execution
- reviewing the complexity of their business and make the required structural changes needed to better align their business processes
- seeking to ensure changes to their business model are done in a way that sustains business performance rather than merely reducing short term costs. Procurement decisions are no exception to this rule.
This research report, conducted by the Economist Intelligence Unit (EIU) for KPMG is based on the responses of almost 600 senior executives, including procurement and supply chain professionals from a cross-section of industries. The publication, which combines qualitative and quantitative research, provides insights into procurement trends and practices from both procurement practitioners and procurement specialists in the field and from within KPMG.
