Procurement Initiative Pulse Check Q3/2023
The Procurement Initiative's quarterly "CPO Pulse Check" taps into the sentiment and outlook of Procurement and Supply Chain Leaders. Q3’s Pulse Check shows a more positive outlook on supply issues and inflationary pressure but a clear Intention-Action Gap when it comes to sustainability.
Pulse Check for Q3/2023
With our Q3/2023 Pulse Check, we aim to gauge the current sentiment within the procurement and supply chain environment, focusing specifically on inflation expectations and the sustainability maturity level within organizations.
- 68% of respondents have a positive to very positive outlook regarding the stability of supply chains in the remainder of 2024
- Sourcing priorities remain largely unchanged, with cost continuing to be the ultimate focus
- Inflation continues to be a significant concer
• As supply-side disruptions are expected to ease, respondents expect inflation to be at 4.1% (2nd half 2023) and 2.4% for 2024
• 50% of respondents expect inflation to be between -1 to 5% BUT …Outliers range from -15 to +18%
• While both supply and demand are responsible for current inflation levels, supply-side shortages are considered as the main driver
- Sustainability remains high on the agenda, but..
• All organizations are on a sustainability journey. However, most companies indicate that their commitment to sustainability is rather low
• “Intention-Action Gap”: Most companies prioritize sustainability in their strategy but fall short in taking actionable steps
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