21 May 2012

News : Reports

Cutting costs is top procurement priority

Published:: 31 January 2012
Article Type:: News

84 per cent of procurement professionals say cutting costs is their main procurement priority for 2012, with 85 per cent planning to invest in procurement technology, training or recruitment, according to a nationwide survey by procurement software supplier Science Warehouse in association with eWorld Purchasing & Supply.

The survey covered a wide range of sectors from manufacturing to pharmaceuticals and biotech, including companies with an indirect spend of under £500,000 (24 per cent) to in excess of £10 million (36 per cent).

It also found that 51 per cent ranked spend control and visibility highly in their long term strategy.

Many organisations have already driven out considerable savings from their procurement activities, so the researchers reckon the focus for 2012 will be on more intelligent procurement functions, as professional services were selected as the highest priority spend category by 37 per cent of respondents.

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