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Hackett Group’s 2023 survey highlights differences in CPO priorities between ANZ and ROW

CPO Priorities

The Hackett Group’s 2023 Key Issues research revealed significant differences in the top 10 priorities for procurement executives worldwide and in the ANZ region, based on results from over 350 participants.

Currently conducting their highly anticipated 2024 study, The Hackett Group found that the top overall priority globally was ensuring supply continuity, while ANZ executives named reducing spend cost as their greatest concern.

Coming in at second place was combating inflationary price increases (globally) and ensuring supply continuity (ANZ), while ANZ’s main priority was third globally.

Featuring higher up in the ANZ list at third place was improving analytics’ and insights’ capabilities, which sat at number five elsewhere in the world.

Meanwhile, the remaining priorities saw greater ANZ focus on acting as a strategic advisor to the business (fifth place compared to seventh), embedding responsible procurement (seventh place compared to tenth) and improving procurement agility (eighth place compared to ninth).

Missing completely from the ANZ list was improving stakeholder centricity which sat at eighth place globally, while improving velocity/speed of the organisation featured exclusively in ANZ’s top 10.

Top 10 Priorities For Procurement 1
The Hackett Group’s 2023 Key Issues research reveals top 10 priorities for procurement in ANZ (right) and ROW (left)

The Hackett Group recently launched its 2024 Procurement Agenda and Key Issues study, but time is running out to have your say and gain insights, including:

  • Priority business trends and strategic priorities of the enterprise that are expected to shape the procurement agenda in 2024
  • 2024 key objectives, transformation plans and challenges for procurement organisations
  • Projected changes in procurement workloads, staffing levels, operating budgets and technology spending
  • Technology landscape, level of implementation and enablement of business objectives

The PASA community receives exclusive access to the study and an oversight of the regional results. The results will be shared with PASA Connect CPOs in March and at the PASA CPO Exchange in August.

The study, which should take around 20 minutes to complete, is divided into three sections, consisting of demographics, procurement-function-specific and enterprise-level questions.

Those who participate will receive an anonymised research report with composite results and an exclusive invitation to a webcast that will delve into important findings from the research.

All respondent and individual company information will remain completely confidential.

To take part, visit the 2024 Procurement Agenda and Key Issues study by 27th October