Procurement Metrics That Matter in 2023

Nearly two-thirds (60%) of CPOs believe 2023 will be tougher to navigate than the previous year, with budget constraints being the top challenge. That was just one telling statistic unveiled in the recently published research sponsored by GEP and conducted by Ardent Partners — Procurement Metrics That Matter in 2023.

This eagerly anticipated annual report delves deep into the metrics that CPOs must monitor to deliver added value. It provides indispensable insights into procurement's strategic priorities within today's fast-paced business environment.

Key Highlights:

• Supply risks continue to grow, with CPOs ranking inflation, budget pressures and recession risk as their top concerns.
• Nearly half (46%) of CPOs are turning their attention to cost reduction, as savings strategies are at the top of their agenda.
• Technology and collaboration are the leading strategies for CPOs to meet their objectives.

Procurement leaders can leverage this report’s guidance and strategic insights to propel their procurement functions forward.