In the wake of the 2008-09 Great Recession, the rush to cut costs propelled procurement to the forefront. Our 2011 Assessment of Excellence in Procurement (AEP) study found procurement organizations around the world delivering exceptional results, capturing the highest percentage gains in more than two decades. We observed the largest increase in procurement’s stature, influence, and reach. Our latest study reveals that the importance of procurement has continued to climb around the world. However, in Asia Pacific, it is lagging.
In this paper, we take a closer look at the results of our 2014 AEP study. We compare procurement organizations’ performance in Asia Pacific with that of other regions and share the best practices that leading professionals have used to set their companies apart. If there is one thread that unites excellence in procurement around the world, it is that no procurement organization can afford to sit still. Those in Asia Pacific have some catching up to do, while those in Europe, Africa, the Middle East, and the Americas will maintain their hard-earned stature only by continuing to use the latest best practices for making their function a vital part of the corporate structure and further enhancing the procurement brand.