The 2014 Hackett Key Issues report on procurement priorities reveals some interesting trends and it’s backed up with some highly insightful statistics and analysis. The headline issue is the most interesting. The report shows that cost saving, as a driver for procurement, is diminishing in importance compared to a more strategic agenda. That might be news to some but it confirms what many of us have known for some time.
For a more in depth insight on the report, I spoke to David Rennie in London, European Practice Leader, Procurement & Supply Chain Transformation at The Hackett Group and he explained some of the findings in the report.
Hackett’s survey shows that cost saving ranks a mere 4th in the priority list for procurement. Upstaged by the need to expand influence and the need to innovate, cost saving is a relatively minor priority.
The report reflects a maturity of thinking in the procurement profession and moreover it shows that procurement is falling in line with broader commercial objectives of business.
Pete Loughlin can be found on twitter @peteloughlin