More NewsPurchasing Function Poised for Transformation Worldwide

Purchasing Function Poised for Transformation Worldwide

After years of being perceived as a clerical, back-office function, purchasing is set to gain remarkable prominence in the corporate pecking order, according to a survey of over 350 global executives by the Economist Intelligence Unit in co-operation with SAP. While only 34 per cent of respondents said procurement and supplier management executives currently play an important or vital role in establishing their companies’ overall strategic objectives, 65 per cent of respondents outside the purchasing function – and an overwhelming 91 per cent within it – predicted they will have to do so by the year 2015 in order to maintain competitive advantage.

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