Supply Management: Half of buyers report lack of talent

Originally Published in Supply Management | March 24, 2017 | By Andrew Allen

The procurement talent gap, technological frustrations and suppliers who are insufficiently focused on risk are among the challenges facing CPOs in 2017, according to a survey.

Consero’s 2017 Procurement and Strategic Sourcing Report found US procurement executives identified cost control as the top priority in 2017, with 76% naming it as a main focus area for the year.

Some 39% named supplier management as the main focus area for the year while 37% cited talent development and retention.

Cyber security and third-party contracts top the list of risk areas procurement executives will need to monitor closely this year, with around half of respondents identifying these as top areas of risk the 2017, followed by regulatory compliance.

Almost nine in 10 said they used early engagement strategies to generate leadership support for procurement, while 65% analyse stakeholder needs for the same purpose.

The report urged CPOs to invest in the right technology and develop talent in order to tackle possible challenges.

Almost six in 10 reported an increase in staffing over the past year, 19% said staff had decreased while a quarter reported no change.

See full article here.