How can procurement teams enhance their operating models to achieve optimum value? What more can they do to attract and retain the modern-day procurement professional in this increasingly technological world? How can they develop the skills and nurture this talent?
The procurement function is transforming. Procurement leaders have the chance to be the architects of a new, technology-driven procurement endgame that turns the function into a true, strategic partner to the business. But technology alone is not enough to deliver this transformation. It also requires a step change in the entire operating model and, in turn, the right talent with the right skills to enable and deliver it. Its success ultimately depends upon the human factor.
Download your copy of Efficio’s major research study, ‘The Human Factor: Strategic procurement and the leaders of tomorrow’, developed in co-operation with Cranfield School of Management.
This year’s research will explore how a more tech-savvy, collaborative and strategically-minded future procurement workforce will ultimately require a reshape of organizational design, and serve as much as a driving force of transformational change to the procurement function, as technology itself.
As part of this research, we have interviewed 500 respondents, representing senior procurement professionals, such as CPO/Head of Procurement/Procurement Director level, across different sectors and split evenly across the UK, US, Germany, the Nordics and Middle East.
Among our key findings:
- Companies believe that new technology is not supported by the right processes and skills and procurement’s approach to training needs to change
- Having a structured training programme is vital way to upskill incumbent employees in an efficient, cost-effective manner, while also playing a key role in attracting new, highly-skilled talent
- Technological adoption; automation and digitalization was the number one internal factor that will have the greatest impact on a company’s procurement operating model
Our study includes interviews with senior procurement professionals, case studies and tips to optimise procurement operating models and attract, retain and nurture talent in the digitalized world of procurement.