The corporate procurement function is essential to organizational growth. It is also more demanding than ever, given the increasing complexity of modern strategic sourcing and evolving risks from third-party relationships, new regulations, and beyond. Indeed, today’s Chief Procurement Officers have their hands full. Fortunately, through the development of a competent and engaged department, and the right additional support, this group of senior-level executives will be prepared to mitigate risks and help contribute to both bottom-line and top-line growth for their organizations.
Consero’s Procurement and Strategic Sourcing Report was conducted in conjunction with its invitation-only January 2016 Forum for Chief Procurement Officers. Forum attendees were asked 15 questions gauging their perspective on a variety of issues. The data yields interesting points of discussion, such as trends in procurement operations, changing perceptions of talent management, and shifts in tactics for supplier management. The 47 respondents from Fortune 1000 companies give rise to interesting insights about the industry.