Continuing the drive to understand procurement landscape across the globe, Zycus conducted an in-depth research amongst 140+ procurement professionals in Asia. The result of this research helps understand the current procurement scenario in Asia.
Some of the insights from the report are:
- Executive support for strategic procurement is very strong across Asia
Procurement professionals in eight of ten Asia-based companies say top executives have mandated greater enterprise-level and strategic procurement control and management over corporate spending. 82%of Asia-based procurement teams cite express mandates to manage total enterprise spending.
- Procurement pros score strategic maturity lower than peers in other regions
However, there is also strong evidence to suggest that Asia-based companies intend to catch up and/or surpass their global competitors very quickly.
- Quality of information for procurement has big room for improvement
Procurement professionals across Asia score the quality of strategic business information available to them at better than ‘fair’ but less than ‘good’.
- Most measure procurement on cost savings and supplier performance
Greater than 90% of Asia-based procurement pros say cost savings is a key success metric for enterprise strategic procurement.
- Labor intensity of procurement processes remains high across Asia
On a 1 – 5 scale, procurement pros in Asia generally score procurement-process automation near the midrange or lower.
Even though Asian procurement organizations have aggressive plans to invest in procurement technology, 62% of procurement professionals cite ‘internal resistance to change’ as their number one obstacle to success.
