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.
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