I am pleased to announce that Ardent Partners’ annual market research report focused on the state of procurement and the Chief Procurement Officer is now available from the report’s different sponsors by clicking here, here, here, or here (registration required)
The report is called CPO Rising: Keeping Score and it represents the web-based survey responses of 267 CPOs and other procurement and business leaders as well as direct 30-60 minute interviews with more than 25 CPOs and procurement leaders (all of whom took the survey) and six former CPOs who have moved into larger operational roles. These roughly 270 participants shared their strategies and intentions, as well as their operational and performance results to help us define Best-in-Class procurement performance and understand what levers the leading groups pull to obtain their advantage.
Respondents also shared the way that procurement performance is measured within their enterprise. More than 70% of the total participants shared some personal insights and commentary to help provide greater context to the results. This primary research effort was also informed by the experience and analysis of the report author and the entire Ardent Partners research team. The report is organized into the following chapters:
Chapter One – The State of the CPO: This chapter looks at the continuing evolution of the role of the Chief Procurement Officer and its level of engagement and alignment within the enterprise today as well as the motivations and internal and external drivers that shape procurement leaders’ priorities and plans this year and beyond.
Chapter Two – The State of Procurement: This chapter offers an assessment of the general progress of the procurement function by analyzing the current state of its people, process, and technology while also detailing the different areas within the enterprise that see and feel procurement’s impact.
Chapter Three – Procurement Performance: This chapter provides procurement performance and operational benchmark statistics and a profile of Best-in-Class performers and their distinguishing characteristics. The chapter also discusses the different ways that procurement performance (at the department or organization level) is measured by CPOs and the larger enterprise.
Chapter Four – Strategies for Success: This chapter presents a series of recommended strategies and approaches for CPOs and procurement departments that are seeking to improve their operations and their results. This chapter also introduces the CPO Scorecard™.
Over the next few weeks, I will highlight key findings in the report and a few bonus morsels captured in the research.
I would like to thank the ~270 practitioners who participated and helped make the report what it is.