Results from The Deloitte Global CPO Survey 2014

Deloitte’s fourth annual survey, entitled The Deloitte Global CPO Survey 2014, conducted in association with Odgers Berndston “reflects the views of 239 chief procurement officers and company directors from 25 countries around the world.” Results for the survey cover these areas that are of interest to CPOs: Market Outlook, Business Engagement, Talent, Risk, Technology, Industries, and Regions. Key findings are included for these industries: Manufacturing; Financial Services; Government and Public Sector; Consumer Business; Technology, Media and Communications; Business and Professional services; Energy and Resources; Healthcare and Life Sciences; and Real Estate. The top 3 responses to the survey by industry are: Manufacturing (54), Energy and Resources (29), and Consumer Business (27). Here are survey highlights:

Key business strategies that CPOs view as a strong priority over the next 12 months:
Cost reduction (69%)
New product/market development (52%)
Organic expansion (50%).

CPO levers that will be deployed over the next year (top 5):
Consolidating spend – 40%
Increasing competition – 37%
Increasing level of supplier collaboration – 34%
Restructuring existing relationships – 31%
Specification improvement – 25%

Number of CPOs actively driving innovation with suppliers: (top 4):
Healthcare and life sciences – 77%
Consumer business – 59%
Technology, media & communications – 46%
Manufacturing 36%

Mitigation mechanisms in place for risk management:
Supplier appraisal and pre-qualification – 77%
Supplier performance management – 63%
Data security and controls – 37%
Integrated vendor supply systems – 26%
Predictive analytics – 19%
System integrated & embedded regulatory and control procedures – 18%
Embedded analytics (i.e. data at the point of transaction) – 15%
No mitigation measures in place – 9%

CPOs are currently investing in these technologies (top 3):
Supplier portals – 65%
Self serve portals – 43%
Online e-commerce – 40%

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