Agile Procurement Insights Research by SAP in collaboration with Oxford Economics
It is estimated that Egypt lost about a billion dollars during the week-long blockade of the Suez Canal by the Ever Given oil tanker. Such events, but also geopolitical turmoil or weather anomalies in various parts of the world, can effectively disrupt purchasing processes of many companies and expose them to multi-million dollar losses caused by delays in deliveries.
This illustrates how crucial the role of the purchasing department is, its flexibility and ability to react quickly in a rapidly changing environment. In 2020 SAP and Oxford Economics surveyed 1,000 purchasing representatives from around the world. Take a look at some of the findings below and download the full report.
The survey identified so-called leaders who are much more advanced in digitalization processes and who achieve the desired results faster.
Only one in two purchasing managers is able to quickly find an alternative source of supply when needed
Only half can view their or their supplier’s inventory in real time or at short notice
Only 1 in 4 managers have a real-time view of the entire purchasing process
Nearly 40% of managers say most or all of their purchasing processes are manual
One in two believe that digital transformation of procurement is not seen as a priority at their company
Only 32% of managers agree that their supplier risk management is highly effective
Source: SAP Virtual Agency
The study identified so-called leaders who are much more advanced in their digitalization processes and who achieve the desired results faster.
81% of these leaders confirm that digital transformation of procurement has improved supplier management
Only 9% of them experience Maverick Spend
- On 14/05/2021