Gartner Research

Approaches to Accelerate Procurement Functional Speed

Published: 19 March 2018

ID: G00385918

Analyst(s): Procurement Research Team

Summary

Most CPOs feel the need for speed. Sourcing drag slows strategic initiatives, erases 1% to 2% of potential savings and adds significant costs through delayed projects. To get faster, install automation technology, differentiate sourcing workstreams, and strengthen partnerships to reduce rework.

Table Of Contents

Occasion for the Research

Introduction

The Costs of Procurement Drag

Where Procurement is Slow

How CPOs are Speeding Up

Invest in Processes to Address Buy Complexity

Conclusion

Recommended by the Authors

About This Research

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