I am trying to understand and gather real life instances of procurement is moving from a transactional, cost savings-focused function, to a real value adding strategic partner to the business.
We in procurement talk about this transition a lot and I've spoken to some CPOs where this is actually happening. But my gut feeling is that there's a lot more talk than action.
I know of one company that has ditched cost savings completely as an annual target for its CMs preferring instead to measure their value added. So my question is how widespread is this thinking? Are cost savings still themain measurement of procurement value?