When it comes to the people paid to spend your money, are you getting your money's worth? According to a recent study, trendlines show that companies are hiring more purchasing employees, paying them higher salaries and spending more to train them.
CAPS Research, a supply management research organization jointly sponsored by the
W. P. Carey School of Business and the Institute for Supply Chain Management, created a purchasing benchmark by studying 20 industry sectors over a three-year period: aerospace/defense, chemical, computer hardware, computer software, diversified foods and beverages, Department of Energy/National Nuclear Security Administration contractors, electronics, engineering/construction, financial services, health-care products, industrial manufacturing, leisure, lodging and restaurants, metals and mining,
petroleum, pharmaceuticals, retail, semiconductor, telecommunication services, transportation
services and utilities.
Some of the report highlights:
|Purchase spend as a percentage of sales dollars|
|Purchase operating expense per purchasing employee|
|Purchase employees as a percent of company employees|
|Percent of purchase spend via eProcurement|