Opportunities
45%
Whilst 45% of C Suite are highly confident in procurements ability to implement category management initiatives, only 14% see Category strategies as procurements primary value and only 20% are highly confident in procurements ability to deliver risk management strategies for different categories 51% identified AI and associated risks as a top risk priority for procurement, and 66% see Cyber and emerging technology as the biggest risk that will impact organizational strategy, yet only 17% see this as an issue for procurement which presents a risk for deeper supply chain if not included in due diligence.
51%
64% see Geopolitical risk as the top risk area for procurement to focus on, and 50% have identified supply chain reorganization as a top strategic priority for the next 18 months in response.
64%
57%
57% identified Gen AI as the top tech trend for the next 18 months to be piloted or implemented, but only 17% are highly confident in procurements ability to leverage AI for productivity and efficiency gains.
40% see cost savings as procurements primary value, and 72% say cost savings is the primary driver of increasing use of external workforce, with 51% identifying improving SOW management as the top priority for External workforce for the next 18 months.
40%
Source: Economist Impact study, The Resilient Edge – Procurement in an era of polycrisis
0.72 Days
Average Invoice Approval Cycle time
Best in Class Metrics*
Sourcing Savings Rate
Sourcing Cycle Time
13.3%
14 Days
*SAP Customer Benchmarking program
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