There’s a number of CPO and high-level procurement surveys and benchmarks in the market each year. They range from extremely poor (and, in certain cases, even “embellished” when response levels are not high enough – trust us on this one) to proprietary yet exceptionally valuable from a peer benchmark perspective (think Hackett).
And then there are many that fit somewhere between useful and enlightening. Deloitte’s recently released CPO survey, based on discussions with 180+ procurement executives from all over the globe (the largest sample came from Europe), certainly qualifies for both pragmatic and engaging (even entertaining, considering the embedded video interviews, links, and more).
As most of us from Spend Matters take some time off in the coming weeks to spend with family and reflect on the past year (and plan ahead for 2014), we will start to feature the especially interesting highlights from the study. We’ll try to spare everyone the standard, expected findings of such report (did you know CPOs care most about saving money?). Instead, we’ll zero in on some of the more nuanced, surprising, and comparative (based on geography and industry) data and findings. Spoiler alert: German CPOs are very much a smug bunch.
To start, we’ll share just a few highlights. First – and for the first time – having a “new product/market development” focus made the list of top CPO priorities for procurement. And in other findings, CPOs had better get ready for an increasing M&A environment. To wit, “M&A activity is picking up, and 54% of CFOs [based on another Deloitte study] say now is a good time to take greater risk onto the balance sheet – the highest for 6 years. In the words of Deloitte’s Chief Economist Ian Stewart: ‘Austerity is out and expansion is coming in. Cost control and cash conservation are moving out of favour. Expansion is, once again, the top priority for corporates.’”
Of course this is just a start. Stay tuned for much more to come. The full report can be downloaded via this link (including the cool embedded videos).