The consultants at the Hackett Group are out with their annual "CPO Agenda" report or 2019, which we always find interesting.

One thing that caught our eye this year was the chart below, relative to funding and head count for procurement organizatons on average in 2019, based on a large survey of procurement executives. It is our Graphic of the Week:

As can be seen, while companies expect an impressive 5.7% growth in revenue in 2019, spending on the procurement organization is expected to grow just 0.9%, down from 2.8% in 2018.

Similar story on procurement headcount, which is expected to rise well below revenue growth, at just 1.3% versus 2.7% last year.

What's going on? We're not sure, but we suspect it is CFOs and CEOs reacting to signed the global economy may be slowing after 10 years of modest growth.

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