IBM announced its latest study, The 2013 Chief Procurement Officer Study, conducted by the IBM Institute of Business Value, which highlights the favorable business impact that companies with high-performing procurement organizations have via competitive advantage and the bottom line. “These organizations report profit margins of 7.12 percent as compared to just 5.83 percent for companies with low-performing procurement organizations. Also, companies with top performing procurement organizations report profit margins 15 percent higher than the average company – and 22 percent higher margins than companies with low-performing procurement organizations.” The study identified common actions top performing procurement organization demonstrate. They:
- Gain insight through big data analytics
- Collaborate well within and beyond the enterprise
- Adapt to changing market conditions
