Financial crisis boosts profile of procurement role

The second edition of CSC's Supplier Relationship Management (SRM) "barometer," has reported that the financial crisis has raised awareness of the importance of procurement in business.

The second edition of CSC's Supplier Relationship Management (SRM) "barometer," has reported that the financial crisis has raised awareness of the importance of procurement in business.

The research, conducted in collaboration with market researcher TNS-Sofres, has found that performance has become much more crucial as more procurement tools have become available to enable larger contributions to both corporate strategy and results.

CSC said that buyers, who in the past were often considered just negotiators, were now playing an increasingly prominent role within the company, acting in the capacity of experts to their management and internal customers as well as their suppliers.

The more complex and strategic role procurement managers are now playing focuses on high value-added tasks, such as the negotiation of strategic contracts, expenditure analysis, procurement marketing or interaction with requisitioners, CSC said.

The SRM Barometer also showed that procurement departments were increasingly acquiring IT tools to optimise workflows and automate the procure-to-pay process. CSC said such departments were implementing collaborative tools both internally and to communicate with their suppliers.

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