The looming Procurement and Supply Chain Talent Shortage How Technology Can Help

With global economies still struggling to recover from the devastating financial market meltdown and resulting global recession of 2008-09 – and unemployment rates for professional workers lingering at exceedingly high levels – it might be difficult to accept there is a talent crisis in procurement and supply management functions.

But a recent study of procurement organizations by CAPS Research finds some 80% reporting they have experienced Procurement and supply chain talent shortages in the past year. That compares to just 46% reporting talent shortages when CAPS last posed the question in 2009. What is more, while 58% of procurement leaders say they have been able to fill open positions with qualified candidates in the past year that percentage is down 22 points from 80% in the 2009 study.

The new CAPS study was, in fact, inspired by a presentation to Fortune 500 chief procurement officers (CPOs) in which two of the world’s foremost supply-management research experts – Phillip L. Carter, DBA and Robert M. Monczka, Ph.D. – identified talent management among eight critical challenges that supply management organizations will face in the coming decade.