In response to our white paper Innovation, the new deal for Purchasing, BearingPoint have created a red paper, summarising the study. The seventh edition of The Sourcing Monitor focused on assessing the maturity of procurement’s contribution to innovation.
- ‘Contribution to Innovation’ ranks only 9th among priorities of procurement directors. Whereas, 92% of general management place innovation within their top 5 priorities.
- There is a gap between the way procurement directors see innovation – 88% of them declared to be active or proactive in pursuing innovation – and the place of innovation in the function’s objectives.
- The Procurement Innovation Integration (P2I) model categorises purchasing departments into 5 classes, based on the current maturity of the function within an organisation.
By embedding innovation into procurement Tomorrow’s purchasing departments will be gaining an edge over competition by getting to grips with innovation.