ArcBlue releases the ANZ CPO Insights: Procurement Maturity Report 2024, providing insights into procurement function maturity in the region.

In mid-2024, ArcBlue surveyed Chief Procurement Officers across Australia and New Zealand to understand how they perceive the maturity, strengths and weaknesses of their procurement operating model.

To capture the results, ArcBlue has recently released the ANZ CPO Insights: Procurement Maturity Report 2024, which details the survey results and provides readers with an understanding of the self-perceived maturity of procurement functions across Asia.

The report contains a comprehensive overview of the survey results as well as insights into current dynamics within the ANZ business landscape. Surveys were completed by CPO's from across Australia and New Zealand, from organizations within aerospace, finance, agriculture, consumer products, manufacturing, oil & gas, pharmaceuticals, professional services, retail, telecommunications, transport & logistics, wholesalers and government organisations.

In the current fast-paced business environment, procurement departments face numerous obstacles. These challenges encompass supply chain interruptions, workforce deficits, shifting customer demands, environmental issues, and swift technological changes. The importance of procurement has never been greater, and since 2013, ArcBlue, a procurement consultancy, has been aiding organizations throughout the Asia Pacific in assessing and enhancing their procurement capabilities.

As a part of these efforts, ArcBlue designed the CPO Insights ANZ Survey to help procurement leaders assess their maturity and build a roadmap for change.

The survey questions were structured around the ArcBlue 9 Dimensions of Procurement Excellence which include; Leadership & Influence, People & Skills, Organisation, Process & Governance, Value Realisation & Results, Category Management, Technology, Sustainability and Supplier Management. The self-assessment then provided a maturity level score for each dimension, placing them into the categories of Emergent, Developing, Advanced or Leading categories.

The report contains a review of survey data, insights on each dimension and what represents best practice in the current market, as well as advice for CPOs for uplifting maturity in each dimension.

Some key insights include:
• 58% feel that their procurement function takes an active leadership role in mitigating supply chain and/or procurement-related risks
• 28% agree that their procurement function actively shapes and influences the organisation's strategic decisions
• 51% feel that their procurement function effectively attracts top talent
• 55% reported that across the organisation, procurement function is perceived as a highly effective collaborator and communicator
• 31% reported that their organisation effectively tracks and measures procurement savings and their contribution to overall business value
• 11% of surveyed organisations have well established, clear, accurate and easily accessible spend data that facilitates great insights
• 18% stated that their digital procurement tools were fully integrated
• 13% reported they have a clearly defined sustainable procurement strategy in place

The full report can be downloaded here: https://arcblue.com/download-the-anz-cpo-insights-report-2024/

ArcBlue Head Office:
Level 4, 287 Lonsdale Street
Melbourne VIC 3000

For further information or to speak with one of the ArcBlue team, please contact Jalica Dealca at jalica.dealca@arcblue.com.

Founded in Australia in 2013, ArcBlue specialises in all aspects of the procurement lifecycle, with experience across a wide range of industries and supply categories. ArcBlue is recognised for delivering world class transformational procurement programs and solutions - enabling clients to get maximum value from their procurement practices. Headquartered in Melbourne, Australia, ArcBlue has 10 offices across Asia Pacific, and a team of more than 150 procurement professionals located across the region.

ArcBlue's key services and offerings include:
• Procurement performance improvement and cost optimisation programs
• Category management expertise
• Strategic sourcing capabilities
• Social and sustainable procurement and
• Supply chain solutions including de-risking and re-shoring
• Expert spend analytics and digital offerings
• Training and learning development services
• Procurement-as-a-Service
• Capital Works & Major Projects Procurement solutions

ArcBlue is proud to be an independent subsidiary of Bain & Company.

This release was published on openPR.