“One thing is very clear from our research: the skill sets for procurement are changing. Whatever the skill sets are today, they are not going to be the skill sets that are needed tomorrow.” -Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP

SAP recently released the 2024 results of their annual Economist Impact survey. It contains insights into the overall health of procurement and provides a look at C-suite perspectives on procurement’s role and reputation in the business and the most pressing challenges and opportunities facing them today. This year, they surveyed over 2,300 C-suite executives across procurement and other functional areas and C-suite positions.

To unpack the survey results, Philip Ideson is joined in conversation by Baber Farooq, Senior Vice President, Market Strategy, Procurement Solutions at SAP.

In addition to discussing key findings and insights, they talk about:

How this year’s responses differ from previous years and what these new trends say about the future of procurement
Major factors impacting the procurement operating model, including new reporting structures, compliance demands, and sustainability expectations
How digitization is putting pressure on (and opening new opportunities for) traditional procurement organizations

Links:

726: Unpacking SAP’s 2024 Economist Impact Report W/ Baber Farooq