This year’s global chief procurement officer survey provides insight into how the procurement operating model is shifting toward more flexible procurement strategies. Explore how chief procurement officers (CPOs) who aim to be digitally enabled “complexity masters” can deliver value in lockstep with the business, no matter the challenges ahead.
The 2019 survey was conducted in association with procurement market intelligence firm Spend Matters and Odgers Berndston. In this year’s survey, 481 procurement leaders from 38 countries took part, representing organisations with a combined annual turnover of US $5 trillion.
From trade wars, climate change, and digital disruption to talent shortages and regulations, procurement organisations today are facing increasing complexity on all fronts. This complexity has only amplified challenges for chief procurement officers. In addition to delivering sourcing-centric cost savings, they’re also expected to enhance their influence with C-level peers and extend their business impact into strategic areas such as procurement risk management, corporate development, and innovation. However, more often than not, chief procurement officers are asked to do all of this with fewer resources and thinner budgets.
While many chief procurement officers may feel like they could drown in a sea of complexity, they can still find ways to stay afloat—or even identify new opportunities to move their organisations forward. This year’s Global Chief Procurement Officer Survey explores how CPOs can change their lens on improving core value chains and organisational resources. The report also provides insights on tapping transformational digital capabilities to revolutionise the procurement industry. And finally, it details how CPOs can become “complexity masters” who are able to turn the risks apparent in complex business scenarios into value creation opportunities.
We examine procurement complexity in four areas:
74% of CPOs look to cut costs as fears of economic downturn loom – Deloitte Global CPO Survey. Read more here.