Please find the Executive Summary of our „2024 State of the Procurement Profession Survey“ here. The 2024 study and its key results were exclusively unveiled by Ruth Schültken and Christoph Bode at ISM World Conference 2024 in Las Vegas, NV. Below are some of the key insights:
- Positive economic climate: Respondents assessed the current economic climate within the procurement environment as notably positive overall. This optimistic outlook is expected to continue over the next 12 months.
- Technology hindering higher levels of performance: The absence of suitable technology and the gradual implementation of digital transformation strategies were identified as primary impediments to achieving higher performance levels.
- Low employee satisfaction among procurement professionals: For the fourth consecutive year, procurement professionals have reported decreasing satisfaction with their organizations. Our NPS-based satisfaction score has reached its lowest point, highlighting the severity of the issue.
- Entrepreneurial orientation as a strategic differentiator: Entrepreneurial orientation is emerging as a critical determinant of success and competitiveness for procurement organizations. Those fostering such an orientation among their workforce exhibit heightened performance levels, effectively navigate digitalization challenges, and achieve enhanced employee satisfaction compared to their counterparts.
- Procurement as a sustainability frontrunner: Procurement is increasingly assuming a leadership role in advancing sustainability agendas within companies. Motivated by regulatory shifts, many purchasing organizations have implemented sustainability measures that surpass their companies' objectives.
The „State of the Procurement Profession Survey“ is an annual study, conducted since 2017, that aims to collect the opinions of procurement professionals to predict the future of procurement, track procurement excellence and relevant trends, and enhance the value contribution of procurement in organizations.