31 Oct '16, 5pm

#Procurement Faces at Digital Tipping Point

Cost cutting and cost containment are always going to be a key part of the procurement discussion. However, in recent years, procurement function has emerged as a strategic tool as well. Now, technology trends are creating a new tipping point for procurement, in addition to offering new ways for the function to prove its worth. The Deloitte Global CPO Survey 2016 , polled 324 senior procurement professionals, found that three out of four rank cost reduction as a top priority. Weak supply markets, paired with financial instability, increased outsourcing, and increased demand from outsourced market are behind the trend. "As a consequence, a position of aggressive cost control wrapped in risk protection dominated most procurement strategies," the report said. Unfortunately, they are also less confident in their capabilities to deliver results than before. In fact, 62% of CPOs...

Full article: http://www.ebnonline.com/author.asp?section_id=3219&doc_i...

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