The Hackett Group, Inc. has developed a new Procurement Capabilities Model, setting forth the specific steps that companies must take in that area as they mature. The model is contained with Hackett's latest Book of Numbers volume, entitled "2020 Vision: Delivering on the Evolving Value Proposition of Procurement." It expands on best practices that are defined by Hackett and correlated with world-class performance. They are organized by capability rather than tied strictly to business processes. The model also helps companies to identify weaknesses, predict future staffing needs, prioritize investments in tools and technology, and strategically align all parts of the organization. The Procurement Capabilities Model builds on the firm's Procurement Value Proposition Model, launched in the fourth quarter of 2007. It details capabilities across 12 dimensions of procurement, within three major categories: operating model, core process management and resource management. Hackett also announced the launching of a new Procurement Capabilities Performance Study, intended to give companies a broader view of their procurement activities and the capabilities needed to support them. Respondents to the study will receive a customized report discussing the results, along with insights from Hackett on how to close performance gaps.
The Hackett Group
Timely, incisive articles delivered directly to your inbox.