Online procurement to soar over the next year

19 November 2007
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19 November 2007 | Antony Barton

Almost nine out of 10 senior executives say their organisations will significantly increase their use of online procurement over the next 12 months, according to a new report.

The study of 127 companies, from this year's Forbes Global 2000 list of corporate giants, reveals 86 per cent predict the increase. It also reveals 68 per cent of procurement managers and employees with similar responsibilities use the internet as their first resource when sourcing new suppliers. Some 80 per cent of those say time saving is the main benefit.

Marcus Cameron, research manager for SPG Media, which conducted the research, told Supplymanagement.com the increase in the use of e-procurement is largely down to time and cost savings but also because of greater access to global trade and commerce.

The Global E-Procurement Report 2007 surveyed 205 executives, with procurement specialists comprising 29 per cent of respondents.

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