World-class procurement organizations outperform their peers by striving to provide unique value beyond cost reduction, including becoming a trusted advisor to the business, driving supplier innovation, and focusing on risk management, according to new research from The Hackett Group, Inc. (www.thehackettgroup.com).
The Hackett Group’s research identified five key areas where world-class organizations are adopting procurement strategies to differentiate themselves, one of them being the way they attract, develop and retain talent.
In fact, Hackett research finds that top-performing procurement organizations tend to invest twice as much in training hours and are three times more likely to have retention plans in place for those employees with “critical” skills. Such investments are one reason why leading procurement organizations can accomplish more with fewer people than typical ones, the firm notes.
Click the following link to download a copy of the report: http://www.thehackettgroup.com/research/2014/pr/wcpa-pr/