Corporate procurement’s role continues to evolve within today’s global businesses. Procurement executives play an increasingly critical role in the pursuit of company success, not only driving expense reduction but managing and mitigating enterprise risk, and working to ensure seamless delivery of necessary goods and services. Senior procurement officers must work closely with fellow C-suite executives to ensure all corporate departments have the requisite support to execute their functions and that procurement strategy is aligned with the overall business.
This group of corporate executives face a persistent set of complex challenges. Among them are an employee talent gap within procurement, expanding cybersecurity risk, and third-party vendor liability. In the year ahead, chief procurement officers need the right technology and other resources to manage this demanding workload.
Consero’s 2018 Procurement and Strategic Sourcing Report was developed in connection with its December Procurement and Strategic Sourcing Forum. The 13-question survey provides insight into numerous industry issues including technology management, challenges in talent development, and supplier relations. Consero received 52 responses from senior-level procurement executives from various industries.