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- March 26, 2015 -

 
       
   

Supply Chain Graphic of the Week: Top Procurement and Sourcing Priorities for 2015

 

Becoming a "Trusted Advisor" to the Business Comes out on Top, but What Does that Really Mean?

 
       
   

By SCDigest Editorial Staff

 
   

 

What's at the top of the procurement and sourcing priority stack for 2015?

The consultants at The Hackett Group have a view on that, after conducting a recent survey of procurement managers and executives for its annual report on Procurement’s Key Priorities for 2015.

 

The results from the report for a survey question asking about top procurement priorities is published below.

 

 

Source: The Hackett Group

 

As can be seen, "elevate the role of procurement to trusted adviser" came in at the top spot, with 72% of respondents indicating that was either a critical or major priority.

 

Ok, but what does that really mean?

 

Well, thankfully Hackett provides some definition, arguing that the following skills sets are related to the procurement function becoming a trusted advisor to the business:

 

• Having an executive presence at the table during planning and budgeting.


• Enabling business execution through forward-looking market insights/intelligence addressing business concerns.


• Being perceived as having a sincere interest in helping stakeholders achieve their business objectives (e.g., alignment with business objectives, supportive of top-line growth and cash management).


• Understanding each stakeholder’s business and organization and tailoring procurement’s message/approach accordingly.


• Being perceived as a change agent and facilitator


•  Having the right set of skills (e.g., program management, communication

 

Does your company's procurement function meet many or most of these criteria? Time for a self-assessment.

 

We'll summarize the full report in the next couple of weeks.

 

Any Feedback on our Supply Chain Graphic of the Week? Let us know your thoughts at the Feedback section below.

 
   
 
   
 

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