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Insights – Sourcing & Procurement

Sizing Up the Procurement Digital World Class™ Advantage

The Hackett Group’s latest benchmarking study looked at an array of procurement metrics that contribute to business value and operational excellence – the key dimensions of Digital World Class performance. Discover the new procurement performance benchmarks that show what is possible to achieve.

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Sizing Up the Procurement Digital World Class™ Advantage

Featured Insights

2022 Procurement Agenda: Key Issues to Address and Critical Actions to Succeed

2022 Procurement Agenda: Key Issues to Address and Critical Actions to Succeed

In 2022, Procurement leaders must remain laser-focused on delivering real performance improvements and adding value to the enterprise amid continued disruption. The Hackett Group’s 2022 Key Issues Study reveals a slate of Procurement priorities and critical actions organizations must take to succeed.

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Procurement Excelleration<sup>™</sup>: Five Essential Digital Business Capabilities

Procurement Excelleration™: Five Essential Digital Business Capabilities

In our most recent Key Issues Study, enterprise digital transformation catapulted to the No. 1 priority for 2021. While architecting technologies into end-to-end processes requires investing in new technology, the return can be significant – up to 600% according to our analysis.

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Preparing the Company for Extreme Economic Volatility: A Procurement Perspective

Preparing the Company for Extreme Economic Volatility: A Procurement Perspective

As the coronavirus crisis becomes more and more disruptive for businesses, procurement organizations have the opportunity to be the glue that holds the enterprise together. Procurement organizations shared with us how the crisis is playing out in their industries, and how they have responded.

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Adapting Payment and Inventory Policies to Preserve Cash

Adapting Payment and Inventory Policies to Preserve Cash

The coronavirus pandemic has shattered supply chains and resulted in unprecedented changes to normal demand patterns. While the extent and time frame for the supply chain disruption happening across the globe are unknowable, a variety of actions can minimize the impact both on buying organizations and their suppliers of goods and services.

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Procurement Value: Moving Beyond Price Savings Toward Strategic Value Recognition

Procurement Value: Moving Beyond Price Savings Toward Strategic Value Recognition

Procurement is mostly recognized for its successes in reducing and avoiding purchase costs. However, in the era of doing more with less this is no longer enough, and top-performing organizations are investing more in value-channel activities that track ways value is created beyond purchase-price reductions alone.

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Procurement 2025: Equipping a multigenerational workforce with the skills for success in a digital environment

Procurement 2025: Equipping a multigenerational workforce with the skills for success in a digital environment

According to a World Economic Forum report, the proportion of core skills required to perform a job will shift significantly between 2018 and 2022 as digitization, automation, and advances in artificial intelligence disrupt the world of work.

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Procurement Value: Measuring Realized Savings

Procurement Value: Measuring Realized Savings

Measuring savings on indirect spending is deceptively difficult. Achieving savings visibility requires a combination of technology, process expertise and coordinated collaboration with the finance organization.

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Four Best Practices for Implementing a Source-to-Pay Technology: A Major Convenience Store Retailer Technology Transformation

Four Best Practices for Implementing a Source-to-Pay Technology: A Major Convenience Store Retailer Technology Transformation

With an aggressive target for growth, this convenience store retailer acquired multiple companies to expand its overall reach in the United States.

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Benchmarking: Continuous self-evaluation is at the “heart” of sustainable cost optimization

Benchmarking: Continuous self-evaluation is at the “heart” of sustainable cost optimization

By moving to world-class performance levels, the typical company can save up to 17% in procurement costs that can be reallocated to fund procurement performance improvement initiatives or top-line growth initiatives.

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Contract Cash Scoring

Contract Cash Scoring

Contract cash scoring – an easy-to-implement approach for both procurement and sales – elevates attention to cash flow considerations before a contract is signed.

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The Digital World Class<sup>™</sup> Procurement Performance Advantage

The Digital World Class™ Procurement Performance Advantage

Digital transformation offers procurement teams a significant opportunity to elevate and position as a more strategic, forward-looking and business-enabling function.

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