Procurement outsourcing constitutes a growing dimension of corporate procurement strategy.
To date, procurement outsourcing has mostly been limited to the transactional purchase-to-pay process rather than the more strategic aspects of procurement.
However, research by The Hackett Group, a leading global strategy and operations consulting firm, indicates that major companies will likely expand the scope of procurement outsourcing in the coming years. If procurement outsourcing is to yield the expected benefits, its adopters will need to carefully weigh the comparative costs and risks of insourcing vs. outsourcing across specific procurement activities, manage the potential risks, and ensure that sufficient effort goes into process design and optimization.
Source: The Hackett Group
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