In the tumultuous global economy, realising sustainable cost efficiencies is a key priority for business leaders across all industries.
KPMG’s global survey of procurement excellence indicates that, although most procurement functions have made significant progress in terms of creating value for their organisations, over the past few years, their momentum has stagnated somewhat.
In large part, this is because much of the ‘low hanging fruit’ has already been harvested in terms of cost savings, leverage and price.
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.