What separates world class procurement organizations from the rest of the pack?

Well, for one thing, they generate more than twice as much savings on purchased goods and services for every dollar invested in procurement than the average company does.

But that is more of an effect than a cause, leaving the question of what procurement leaders do differently still to be addressed.

A new report from the consultants at The Hackett Group identifies five such attributes of the best procurement groups. as well as quantifies that value along the type of return on investment numbers cited above.

On a recent news broadcast from our Supply Chain Television Channel and CSCMP, Chris Sawchuk, who heads up Hackett's procurement practice worldwide, came on the program to summarize several of those differentiating attributes, which we break out here as a separate video clip.

View the excellent video discussion between Sawchuck and SCDigest's Dan Gilmore now below.

You can also find SCDigest's summary of the report here: The Five Characteristics of World-Class Procurement Organizations