More spending is a key component of virtually all aggressive business growth strategies. The imperative for CPOs is to determine how their organizations will support more assertive spending — in an economic climate more favorable to inflation — without giving back all the hard-won spend discipline established over the past several years. Effectively controlling spending – even as economic recovery enables a return to at least modest top-line growth – is a major focus for CPOs and a major contributor to preserving or enhancing profitability.
In this climate the CPO imperative is to manage supply risk – and inflationary pressures on key spend categories – to avoid giving back all the hard-won spend discipline established over the past several years.
In a recent study conducted by Zycus we observed that:
•CPOs are gearing up for this new challenge, focusing on process improvements — efficiency, execution, and effectiveness — and forging stronger, more engaged, and collaborative relationships with internal business partners and suppliers.
•Corporations rate procurement’s value contributions highly and continue to support and fund enhancement of their procurement, sourcing, and supply management capabilities.
•Companies building their procurement capabilities most aggressively are reaping the greatest rewards and achieving significantly higher performance levels when compared to those investing less.
The Zycus Pulse of Procurement 2015 study encompasses input from more than 400 procurement executives and professionals with demographic characteristics shown on this page.
Join Richard Waugh, VP Corporate Development, Zycus Inc. and Ian Hinke, VP Sourcing & Vendor Management, PHH Mortgage on 25th August 2015, 2:00 pm EST to know more about the Procurement Trends & Benchmarks and what this means for the future of Procurement!
Learn More: Vendor Management Guide
