Jonathan Cooper-Bagnall - Proxima
‘People are your greatest asset’ is an age-old mantra that many successful companies embrace.
A recent study, however, has found that “62% of CPOs do not believe their team has the skills and capabilities to deliver their procurement strategy, compared to 48% two years ago” (a trend that has been increasing year on year, according to the Deloitte study).
Additional commentary in the study compounds this data further, suggesting that spend on training for procurement professionals has declined over the past three years – highlighting the need for some sort of skills intervention.
Whilst it’s tricky to point to the precise factor driving this trend (global markets are in flux, technology is disrupting the skills landscape, risk and fraud are at an all-time high etc), Proxima's own research into the Perceptions of Procurement suggests that perhaps the capabilities the business need from procurement today are not the same capabilities required 10 years ago.
One of the key insights drawn from our research is a widely held belief by executives that the procurement function needs to increase its coverage of purchasing, however, over 60% of execs express dissatisfaction with the ability of the procurement function to influence attitudes and behaviours of internal stakeholders.