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State of Procurement 2016, Part II

State of Procurement 2016, Part II

In the State of Procurement-Part I, we introduced the latest growing trend of the Procurement operation becoming more strategic in nature, moving away from the old model of a purely transactional body. Procurement has become a major stakeholder in the success of the organization.

This is reinforced in the findings of a recent Procurement benchmark report where nearly a quarter of the respondents stated that the Chief Procurement Officer possesses a seat on the corporate board. And more than a majority of the others surveyed stated that was the direction their corporations were moving. The associated infographics is represented by the featured image.

The benchmark report, Challenges in Asia-Pacific Procurement, contains the results of interviews conducted with 100 senior Procurement executives from leading multinationals in the Asia-Pac region to discover how they are turning Procurement into a business enabler – one of the big issues shaping the agenda at ProcureCon Asia 2016 Summit.

The job titles of interviewees include: Chief Procurement Officer, Head of Indirect Procurement, Procurement Director, Head of Category Management and Head of Global Sourcing among many others of similar standing.

This is the fourth annual iteration of ProcureCon Asia Summit in Singapore, as it has established itself as Asia’s leading gathering for key players to actively engage in shaping Procurement’s future.

Technology Concepts Group International (TCGi) is one of the sponsors of this event.  With the launch of TCGi Singapore in 4Q of 2015, it is important to understand the needs of Asia-Pac procurement executives and professionals right at the source.  TCGi had a key role in shaping the questions in the benchmark report to best understand the challenges that are currently faced by Procurement executives and their organizations.

On the first day of the Summit, June 1st,  Avis Yates Rivers, TCGi CEO, will be giving a presentation entitled, The new procurement – How can you boost innovation within your supply chain?  She will highlight the steps needed to transform Procurement from transactional to strategic. We will share some of her key points from her presentation in upcoming blog posts.  

Our next series of blogs will highlight and get into more depth of the key findings of the benchmark report.  Don’t miss them!

Download the Benchmark Report: Challenges in Asia-Pacific Procurement.


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