Just 9% of buyers prioritise suppliers’ growth
Weaknesses in data, processes and communication are the main obstacles to improving suppliers’ experiences, a survey has found.
Supply chain platform HICX said 82% of procurement executives named shortcomings in these areas as the most common barrier between suppliers and customers.
The company surveyed 100 of the most senior procurement professionals from organisations with a turnover of above $1bn per year in Europe and North America. A third of respondents represented companies with a turnover of more than $10bn.
The survey found it takes an average of 15-28 days to onboard new suppliers – with only 5% managing to achieve this on average in less than two weeks.