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The Human Factor: Strategic procurement and the leaders of tomorrow

How can procurement teams enhance their operating models to achieve optimum value? What more can they do to attract and retain the modern-day procurement professional in this increasingly technological world? How can they develop the skills and nurture this talent?

The procurement function is transforming. Procurement leaders have the chance to be the architects of a new, technology-driven procurement endgame that turns the function into a true, strategic partner to the business. But technology alone is not enough to deliver this transformation. It also requires a step change in the entire operating model and, in turn, the right talent with the right skills to enable and deliver it. Its success ultimately depends upon the human factor.

Download your copy of Efficio’s major research study, ‘The Human Factor: Strategic procurement and the leaders of tomorrow’, developed in co-operation with Cranfield School of Management.

This year’s research will explore how a more tech-savvy, collaborative and strategically-minded future procurement workforce will ultimately require a reshape of organisational design, and serve as much as a driving force of transformational change to the procurement function, as technology itself. 

As part of this research, we have interviewed 500 respondents, representing senior procurement professionals, such as CPO/Head of Procurement/Procurement Director level, across different sectors and split evenly across the UK, US, Germany, the Nordics and Middle East.

Among our key findings:

  • Companies believe that new technology is not supported by the right processes and skills and procurement’s approach to training needs to change
  • Having a structured training programme is vital way to upskill incumbent employees in an efficient, cost-effective manner, while also playing a key role in attracting new, highly-skilled talent
  • Technological adoption; automation and digitalisation was the number one internal factor that will have the greatest impact on a company’s procurement operating model

Our study includes interviews with senior procurement professionals, case studies and tips to optimise procurement operating models and attract, retain and nurture talent in the digitalised world of procurement. 

 

Launch event highlights

To celebrate the launch of our new research study "The Human Factor", we held an event at our offices in London with over 100 senior procurement professionals in attendance and a great panel of experts.

Play the video to watch some highlights from the launch event and interviews with our expert panellists.

Interview - The Human Factor: Strategic procurement and the leaders of tomorrow

Simon Whatson, Principal at Efficio, and Michael Bernon, Executive Development Director - SCM and Senior Lecturer at Cranfield School of Management, discuss the drivers behind Efficio's new research study.

Webinar: The Human Factor

In this webinar, Efficio will reveal the results of the major new research study, "The human factor: strategic procurement and the leaders of tomorrow", developed in co-operation with Cranfield University.

This session will enable attendees to ask questions and refine their procurement strategies based on hard data and genuine insights.

Register now

Insight

The CPO's view on procurement's talent crisis

To deliver value, new technology requires new skills and CPOs are increasingly finding that their teams don’t possess the skills needed to deliver on their procurement strategies.

Procurement target operating model guide
Guide
Procurement target operating model guide

Download our guide to learn how to maximise value delivery from your procurement operating model and stay ahead of the curve

Top tips for managing temporary labour spend
Guide
Top tips for managing temporary labour spend

Managed service providers, KPIs and reviews of perks and wages can all help to mitigate the potential challenges of having a large temporary workforce.

Procurement success requires more than technical skills
Insight
Procurement success requires more than technical skills

Changing skill sets and requirements mean that procurement professionals need a wider range of skills than ever before.

How CPOs can attract high-potential talent
Insight
How CPOs can attract high-potential talent

Three procurement leaders explain how they win the ‘war for talent’.