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2024 STATE OF PROCUREMENT REPORT


EXECUTIVE SUMMARY

A note from Amazon Business Procurement is fundamental.
Business buyers manage everything from day to day purchases to measuring
sustainability to future proofing operations forlong term growth. It’s a wide
spectrum of mission critical responsibilities, spanning all business functions.
To achieve their ever growing list of goals, procurement is transforming at
lightning speed.

For the third year in a row, Amazon Business conducted its annual study to shed
light on today’s challenges and tomorrow’s priorities. In July 2023, we surveyed
3,108 procurement decision makers and executive leaders around the globe in
partnership with KRC Research. I’m delighted to present the results of the
study, along with interview insights from procurement leaders and Amazon
Business executives, in our 2024 State of Procurement Report.

Armed with these insights, procurement leaders have the opportunity to glean
valuable lessons from their peers and reshape their organisations. For instance,
our research revealed that 80% of respondents are willing to integrate AI into
their procurement processes within the next two years. AI holds the potential to
enhance purchasing by recommending lower cost products based on past purchases
or by empowering chatbots to gather information and provide guidance to name
just a few applications. If you find yourself among the 20% who haven’t
incorporated AI into your strategic roadmap, it’s time to reconsider.

Heading into 2024, our focus shifts to equipping procurement teams with the
skills, tools and strategies to lead their organisations into the future. By
embracing smart business buying technologies that expand visibility and drive
efficiency, the procurement function can boost their organisation’s agility.

Amazon Business is here to help procurement leaders achieve their strategic
goals. We’re proud to support the purchasing and digital transformation efforts
of millions of business customers worldwide ranging from large enterprises to
small non profits. Together, armed with the necessary insights and cutting edge
technologies, we can buy smarter, dream bigger and thrive, in any economy.

Business Management AWS
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