Globalisation, a challenging economic environment, and increasingly fierce competition have placed substantial pressure on corporate procurement executives to continue evolving and to assume greater responsibility for the company’s bottom line. Over the past decade, Chief Procurement Officers (“CPOs”) have redefined their role within the company, implementing a tactical approach to integrate the sourcing and procurement functions within the overall corporate strategy. Procurement departments have become instrumental to the long-term growth of large corporations, working aggressively to create value, minimise cost, and mitigate risk. As their departments mature, CPOs are focusing more of their attention on the acquisition and development of talent and the continued expansion of global sourcing projects. Sufficiently equipped to handle the changing nature of business, the world’s most senior procurement executives will continue to play a pivotal role in the success of their corporations.
Consero’s 2013 Global Procurement & Strategic Sourcing Data Survey included a total of 13 questions in the following areas:
The questions were posed to CPOs of companies with €500 million or more in annual turnover based in Europe and the United States, in connection with Consero’s 2013 Global Procurement & Strategic Sourcing Forum, which took place in Dublin, Ireland in October 2013. A total of 44 responses were provided, yielding data that appears with brief analysis on the pages that follow.