New Study: Global SRM Maturity Report 2017
Vienna | Munich | Detroit | Singapore | Dubai, February 16th, 2017 –More than half of all companies (57%) do not use the full potential of supplier management because they do not have the right technology. This is one of the core findings from the “Global SRM Maturity Report 2017,” which was organized by the direct procurement experts at POOL4TOOL and included 222 decision makers in Procurement from around the world. The study reveals that most companies have a backlog when it came to digitizing their strategies. The report also provides current insight into the maturity levels of SRM in purchasing organizations of various sizes and from different industries. Download the entire report and all of its findings for free at http://hubs.ly/H06lJlD0.
“Only a few companies take full advantage of opportunities in SRM, which makes them more competitive in the international market. The other companies will have to catch up in order to be prepared for the future. Digitization in Procurement is racing ahead and is facing more changes than ever before. Cognitive technology, such as artificial intelligence or digital assistants, will revolutionize work processes and they are already on their way. Companies who are still neglecting the basics of digitization in Procurement and SRM will run into big problems in the near future,” predicts Bertrand Maltaverne, Senior Business Consultant at POOL4TOOL and the author of the report.
Majority of Companies Operate without Appropriate Technology
57% of companies surveyed indicated that they neither exchanged simple information with their suppliers using a Supplier Portal, nor did they implement truly collaborative processes with their suppliers in Forecasting & Planning (e.g. VMI, Kanban). More than a third (38%) did not have a central SRM supplier database. 58% of companies of all sizes lack adequate technology, but 75% of mid-sized companies (50-500 million USD in revenue) do not have the technology they need. (http://hubs.ly/H06lJkd0)
Even if a company’s SRM practices have reached a high level of maturity where employees and processes are concerned, the company will ultimately falter when implementing these practices without proper digital support. The decision not to use end-to-end technologies has consequences in many critical areas in supplier relationship management. It makes it difficult, for example, to maintain a complete overview of international supplier databases, including important data such as financial risks, supply chain risks and corporate social responsibility. Purchasing also cannot implement international category management concepts as efficiently without proper technological support. This all affects a company’s flexibility and agility in response to unforeseen events and shortages, which would require Purchasing to establish supply security on short notice.
Hybrid Organization Structures Are Better (http://hubs.ly/H06lJkd0)
Findings from the survey also revealed that hybrid organization structures achieve better results than businesses that have a purely centralized or decentralized structure. A possible explanation for this is that in the past, these companies did have either a central or decentral structure, but are now building on their experience and are making changes. This seems to correlate with the technology that is being used, because without the proper technology, Purchasing would not be able to create a hybrid structure on an international level.
The survey results provided interesting insight into how mature SRM is in relation to the industry and a company’s size. It became clear that purchasing organizations in the manufacturing industry are ranked the highest. They began to invest in SRM technology early on and have allocated more resources to address this issue. Companies from the banking and finance, financial services and insurance sectors landed on the opposite end of the spectrum. Small businesses (< 50 million USD in revenue) and large companies (> 500 million USD in revenue) achieved better results than mid-sized companies.
222 Participants from All Over the World
The “Global SRM Maturity Report 2017” offers insight and benchmarks relating to the current maturity of SRM in international purchasing departments in companies of all sizes and from all sectors. What is state-of-the-art? Which companies or branches are setting real benchmarks? Where is the greatest unused potential hiding? The report is based on an online survey entitled “SRM Maturity Check,” which was conducted from October 27th to November 15th, 2016. 222 people from around the world participated from nearly every European country, the USA, Canada, Brazil, the Middle East, China, India and Australia. The survey covered all areas and aspects of SRM (employees, processes, technology) and gave participants the opportunity to critically self-assess their own SRM processes and practices.
Download the entire report here: http://hubs.ly/H06lJlD0
POOL4TOOL AG is the global market leader for electronic process optimization in "direct procurement", with locations in America and Asia and over 300 clients. The only worldwide All-in-One Supply Collaboration Platform brings together all process from product development through strategic procurement (sourcing),supplier management (SRM), indirect procurement (procurement), Supply Chain Management (SCM) up to Quality Management in one workflow-based solution. POOL4TOOL offers best practices from successful projects with global market leaders from the automotive, engineering and equipment construction, serial production and medical technology branches, as well as a unique supplier network with over 300,000 connected companies.
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