Chief Procurement Officers Say Short-Term Cost Reduction a Higher Priority Than Long-Term Growth

Subscriber: Log Out

A majority (57%) of surveyed Chief Procurement Officers (CPOs) said short-term cost reduction is a higher priority than long-term growth in 2014, according to a new survey by Consero Group, an international leader in creating high-level, invitation-only events for senior executives. The results were reported as part of the 2014 Procurement & Strategic Sourcing Data Survey, compiled by Consero Group.

In addition, 59% of CPOs surveyed said they do not feel they have sufficient access to the resources required to execute their function.
“Today’s Chief Procurement Officer must look beyond purchasing decisions and supplier relationship management, focusing more on bottom-line growth, given that a company’s procurement execution is fundamental to financial success,” said Paul Mandell, Founder & CEO of Consero. “With a majority of CPOs reporting they are under-resourced and focusing on short-term cost reduction rather than long-term growth, CPOs will need to continue pushing for necessary resources from top management in 2014.”

Other findings included:

·    Talent Gap: A majority (59%) of CPOs do not see a sufficient talent pool to support their organization’s hiring needs.
·    Lack of Global Risk Management Policies: A majority (53%) report not having a global risk management policy in place.
·    Sustainability Programs Not Yielding Tangible Cost Reductions: Most (67%) say they have not achieved tangible cost reductions through the use of a sustainability program.

The 2014 Procurement & Strategic Sourcing Data Survey included 14 questions that were posed to all Fortune 100 CPOs in attendance at Consero’s invitation-only Procurement & Strategic Sourcing Forum in February 2014. A total of 49 responses were provided.


Latest Podcast
Talking Supply Chain: The last-mile tech advantage
Last-mile delivery success depends on many aspects of the supply chain to work effectively together, but none is more important than the…
Listen in

About the Author

Patrick Burnson, Executive Editor
Patrick Burnson

Patrick is a widely-published writer and editor specializing in international trade, global logistics, and supply chain management. He is based in San Francisco, where he provides a Pacific Rim perspective on industry trends and forecasts. He may be reached at his downtown office: [email protected].

View Patrick 's author profile.


Supply Chain Management Review delivers the best industry content.
Subscribe today and get full access to all of Supply Chain Management Review’s exclusive content, email newsletters, premium resources and in-depth, comprehensive feature articles written by the industry's top experts on the subjects that matter most to supply chain professionals.



Sourcing & Procurement

Inventory Management Risk Management Global Trade Ports & Shipping

Business Management

Supply Chain TMS WMS 3PL Government & Regulation Sustainability Finance

Software & Technology

Artificial Intelligence Automation Cloud IoT Robotics Software

The Academy

Executive Education Associations Institutions Universities & Colleges


Podcasts Webcasts Companies Visionaries White Papers Special Reports Premiums Magazine Archive


SCMR Magazine Newsletters Magazine Archives Customer Service

Press Releases

Press Releases Submit Press Release