“The survey indicates that companies are increasingly striving for long-term value and collaboration from suppliers, rather than focusing solely upon minimizing cost, ” said Paul Mandell, CEO of Consero. “This finding signifies a shift from earlier this year when it appeared chief procurement officers were more focused on short-term savings.”
According to the spring survey, more than 50 percent of CPOs said their companies pursued short-term savings instead of long-term value from suppliers.
Other findings from the fall survey include:
• Companies Not Exploring New Sourcing Strategies: Fifty-seven percent said their companies do not spend sufficient time exploring new sourcing strategies.
• Vast Majority Purchase From Foreign Countries: Ninety-five percent stated that their companies purchase goods and services from outside the U.S.
• Foreign Suppliers Have No Advantage Over U.S. Suppliers: Only five percent said that foreign suppliers have an advantage over U.S. suppliers.
• Insufficient Protection for Purchasers from Foreign Governments: Just thirty-eight percent of those surveyed who purchase goods and services outside the U.S. believe that foreign governments provide sufficient protection to U.S. purchasers.
The Fall 2013 Procurement & Strategic Sourcing Data Survey included 11 questions that were posed to Fortune 1000 Chief Procurement Officers in connection with an invitation-only event hosted by Consero in July 2013. A total of 42 responses were provided.
Source: Consero Group