Originally Published in Supply & Demand Chain Executive | August 27, 2015
Bethesda, MD—August 27, 2015—A large majority (84 percent) of chief procurement officers (CPOs) are not satisfied with the level of insight their company data provides, according to a new survey by Consero Group, an international provider of high-level, invitation-only events for senior executives. The results were reported as part of the July 2015 Procurement & Strategic Sourcing Data Survey, compiled by Consero Group.
A majority of procurement officers (53 percent) named spend visibility as the data metric proven most effective in supporting their operations. However, 69 percent of procurement executives reported that they believe metrics used to evaluate their function drive the wrong behavior within their organizations.
“Considering how numbers can drive strategy and performance, CPOs could be concerned by these findings,” said Paul Mandell, founder and CEO of Consero. “Moving forward, CPOs may want to invest time in identifying ways to extract insight from their data, and communicate the key metrics that drive positive change and behavior.”
Additional findings include:
The Procurement & Strategic Sourcing Data Survey was developed in connection with Consero’s July 2015 Procurement & Strategic Sourcing Forum for Chief Procurement Officers. A total of 47 responses were recorded.