Results from the 2020 Assessment of Excellence in Procurement Survey
During the initial shock of the COVID-19 pandemic (Q2–Q3 2020), a relative handful of companies grew revenues twice as fast as their industry peers while sustaining vastly higher total shareholder returns and accelerating their drive toward longer-term strategic goals.
What sets them apart? Strategic command of third-party spend. How do we know? Kearney has conducted benchmark research for three decades, including our 2020 global study which analyzed 370 companies, all with at least $2 billion annual revenues. The latest findings show that a highly developed enterprise capability—marked by a strong strategic alignment of business leadership, the finance organization, and the supply chain—delivered extraordinary resilience, sustained competitive advantage, and strikingly superior earnings performance in a historically tumultuous environment (see sidebar: How competitive is your third-party spend?).
- Third-party economics
- Strugglers subsidize leaders
- A digitally empowered world
- Agile approaches
- Strategic supplier engagement
- Invite comparison
Read the full article here.
