By Jim Wetekamp | July 2015
Procurement Professionals: There’s a vast difference between the world’s best-performing procurement teams and everybody else.The top procurement teams drive the growth and profitability of their organizations and create an unrivaled financial advantage over competitors. The rest? They still operate as a back-room function, adhering to conventional procurement practices that are no longer suitable for today’s marketplace.In fact, we’ve found that on average, top-performing procurement teams can increase savings two to three times to deliver a thirty percent improvement in profitability – substantial numbers by any calculation.So what separates the best from the rest? When the playing field is relatively even, the differentiation ultimately comes down to an organization’s people, approach and technology. Taking technology out of the equation, here are a few questions to help assess where your procurement team is today, and how it needs to evolve to better compete in today’s marketplace and unlock its full potential.