Performance Procurement: How do you create more value

Summary

As new business models disrupt the definition of value in a procurement function, how does one define best-practices? To answer this question, WNS partnered with CIPS and conducted an in-depth survey of the procurement sector. The research incorporates responses from more than 300 European and global companies across a wide range of industries and sizes. The core idea was to understand the relationship between value and alignment, and thereby develop a superior new-age industry benchmark.

One key finding was that there is no blueprint for a ‘best-in-class’ procurement model. There was however, one common link – high-performing procurement organizations maintain a tight alignment with business objectives. This factor is termed as Total Business Alignment.