The challenges we have experienced over the last couple of years have been unprecedented, dealing with procurement and supply chain issues the like of which we have never seen before in our careers. If recent events have taught us anything, it is that too many procurement organisations fall short when it comes to addressing major unplanned events that impact on suppliers and supply chains, adding unforeseen cost and disruption.
2022 will not be easy for buyers. The macro economic environment presents inflationary pressure, many dysfunctional supply chains and political uncertainty. This is why we created this inaugural “Procurement Reinvented” Annual Report so we could help organisations position the maturity of their procurement and supply chain function relative to others from Basic to World-Class, to see the ‘art of the possible’ and provide some thoughts and recommendations on how to close that gap and deliver increased value for the business, at pace.
The findings demonstrate that organisations operating at the top-end of this practice scale are achieving by far the best results, and for every step increase in maturity, savings increase by at least x1.4 and the full report provides guidance on which elements of your procurement operations to focus on to deliver this.
Sustainability was selected to be our key topic for focus in this year’s survey. The revised outcome from the COP26 summit places this subject high on the agenda of senior procurement leaders and it is no longer a ‘nice to have’ that is achieved over and beyond the business-as-usual. It needs to become the way we work and for this reason we asked key questions that matter to procurement and supply chain experts when tackling the subject.
We hope that our findings provide some key insights in this area. Our intent is to deepen our focus on aspects of Practical Sustainability in 2022 as we believe this is the future of the Procurement Profession and there is a need to develop a strong capability in this respect. Good procurement and procurement for good has to go hand-in-hand.
Thank you to all those who contributed by completing the survey, the analysis and the development of this report and especially to our partner, the University of Birmingham.
You can download your complimentary copy of the Executive Summary here:
Procurement Reinvented Annual Survey 2021 Executive Summary