To say Procurement teams today are busy is an understatement. Between high expectations from the c-suite, ambitious cost savings and innovation goals, potential supply disruptions and noncompliant suppliers, teams have a lot on their plates. As procurement’s scope of responsibility grows, it can be challenging for teams that stay the same size to keep up with mile long to-do lists and simultaneously find the time to be a strategic partner for the business.
If you’re feeling this strain, you’re not alone. In our recent survey of retail, grocery and food service procurement professionals, we found 58 percent of teams have stayed approximately the same in size over the past three years. All the while, 44 percent of respondents indicated gaps in their team’s sourcing and procurement expertise as their biggest internal challenge that held them back from achieving their unique goals.
Where are the biggest gaps in procurement talent today? We found data and analytical skills and financial knowledge to be the top two in-demand skill sets for procurement professionals:
- Data and analytical skills (54%)
- Financial knowledge (41%)
- Innovation and collaboration (37%)
- Negotiation skills (40%)
- Category expertise (41%)
- Supplier relationships (43%)