The Chartered Institute of Procurement & Supply (CIPS) has published its Global State of Procurement and Supply 2024 report in partnership with GEP. The report sheds light on the evolving landscape of the procurement and supply function.
The survey gathered insights from chief procurement officers (CPOs), procurement directors, and heads of procurement and supply across 122 organisations with a combined turnover of $73 billion.
The survey results showed that sustainability is a key focus for procurement leaders.
Indeed, the report details that leaders are “acutely aware” of the importance of sustainability and their role in driving it.
According to the survey findings, 78 per cent of leaders in the space believe that ESG issues are growing in importance in their organisation.
Meanwhile, 49 per cent want to improve on their ability to enhance sustainability in the year ahead.
A total of 69 per cent of respondents also shared that their organisation planned to invest in sustainability measures in the coming 12 months – more than those investing in digital technology (65 per cent) and staff development and training (60 per cent).
Elsewhere, the report showed that geopolitical factors were a major concern, cited by 69 per cent of procurement leaders as a cause of potential supply chain disruptions.
Indeed, the report also underscored the growing concern over supply chain shortages due to inflation, geopolitical uncertainty, and logistical disruptions.
Read the full report here.