World Class Procurement Get 41% Higher Pay
Thursday, February 23, 2006 at 10:04PM What's the staffing model at world class procurement organizations? According to The Hackett Group:
- Staff more strategically
- Pay 41% more
- Require 50% less staff
- Invest in skills
The results of this approach are impressive. The staffing model that world-class procurement organizations rely on yields 20% lower costs, 133% greater spend savings, and helps elevate procurement to a strategic function.
What else do they do?
"World-class procurement leaders establish their organization as a strategic function, one that is fully integrated with other relevant parts of the business," states Hackett Procurement Practice Leader Chris Sawchuk. "They take a wider view, understanding the implications of procurement policy for suppliers, internal and external customers, and shareholders. Their staffs lead cross-functional teams to establish which goods and services are most beneficial to the company, taking a broad array of factors into account, not just purchase price."
What are the names of the organizations that meet this criteria? Sorry, no information was provided in the article. To see the full version of this research, you will need to register. Here is the link for the Hackett Research Insight Center: http://www.signup4.net/Public/ap.aspx?EID=PRCA18E