Supercharging procurement productivity

While stagnating productivity has been a longstanding headache for economists, politicians and business leaders alike, recent black swan events have compounded the challenge of slow growth – leaving CPOs under greater pressure to deliver than ever.

A poll of the procurement community illustrates the scale of this challenge: more than three-quarters of functions have reported they are under pressure to reduce functional operating costs over the next year. The procurement change management lead at one technology summed up the issue that leaders must overcome: “We have to be able to be more efficient so we can be more effective.”

Yet amid this difficult operating environment, rapid advancements in artificial intelligence and automation perhaps offer the best chance to break this cycle of slow growth and enter a new paradigm of efficiency and productivity – one that will finally assist leaders in doing more with less. CPOs will only be able to seize this opportunity, however, if they have the right metrics and foundations in place.

Download Supercharging procurement productivity, in partnership with Procurement Leaders, to gain insights into the following areas:

• Procurement’s productivity problem: The scale of procurement’s efficiency challenge and the short-term levers enabling leaders to deliver immediate improvements.
• Definitions and metrics: Different conceptions of productivity among CPOs and efficiency-focused KPIs.
• Delivering a step change in productivity: Actions leading organisations are taking to deliver efficiencies and enhanced productivity through influence, speed, tools, talent and capital.