Procurement skills for the future

Research report by Economist Impact

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Uncover the current procurement skills gaps and critical capabilities for the future

Economist Impact surveyed more than 900 procurement decision-makers and senior leaders across nine countries and seven industries, and found these key takeaways:

The future of procurement skills lies in sustainability and innovation
Gains from AI are already here, strengthening procurement capacity
The gap between current skills and future needs is wide
There is a disconnect between leadership and junior employees that could hinder procurement effectiveness
Strategic success depends on balancing in-house capabilities with external expertise

Key highlights

54% of procurement leaders say digital transformation skills will be important in five years, up from 36% today
64% of procurement leaders agree that AI / machine learning tools help procurement professionals do their jobs better
65% of procurement leaders report relying on external resources for technology skills

The research
Amazon Business commissioned Economist Impact to conduct a global research program to assess skills gaps within procurement teams, identify critical competencies needed to meet future needs, and explore ways to develop these key skills for procurement.

FAQs

Future procurement leaders need to excel in cost management, strategic planning, and emerging areas like sustainability and digital transformation, according to Economist Impact. Discover how these skills will shape the future of procurement in the full report.
Economist Impact highlights how AI is automating routine tasks, allowing procurement teams to focus on strategic priorities. Learn more about how AI is reshaping procurement in the full report.
Organizations should strategically balance in-house skill development with external expertise to meet both immediate and long-term needs. Get detailed insights on building a robust procurement strategy in the full report by Economist Impact.
Digital transformation and AI expertise are increasingly vital for procurement teams, as highlighted by Economist Impact. Dive deeper into the tech skills shaping procurement by downloading the full report.
Economist Impact recommends prioritizing training in sustainability, AI, and data analytics to prepare procurement teams for future challenges. Uncover the training strategies that deliver long-term value in the full report.