B2B Payments

Is The Procurement Job Market In Trouble?

A recent survey found that 63 percent of employers are prioritizing permanent procurement and supply chain positions. Furthermore, junior procurement and supply chain staff will be have the highest demand, with 77 percent of surveyed firms looking to take on such professionals, according to Robert Walters’ Client Hiring Intentions Survey 2014.

However, the survey also found that skill shortages in the procurement and supply chain professions were a large problem. Specifically, 55 percent of those surveyed said they expect to experience a deficit of professionals with the necessary expertise in the second half of the year.

This could be troublesome considering another poll found that in the U.K., over half of procurement leaders stated that they need up to five employees to analyze their procurement spend, as reported by Supply Management. But, the report also showed that employees perhaps spend too much time on individual projects.

For example, 36 percent of surveyed CPOs spend more than a day a month collating data from various sources, and 29 percent have to allocate a full or half-day of staff time to the task.

“It’s clear that organizations spend too much time on preparing data than actually analyzing the insights they’ve been hired to act on,” Hugh Cox, chief data officer at Rosslyn Analytics said, as reported by Supply Management.  "Ineffective decision-making must stop if procurement teams are to turn lost business opportunities into greater savings.”

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About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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