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Supply Chain Trends
The Realities of Global Pricing

The IoT: A Big Deal for Buyers

The Internet of Things is placing new demands on professionals throughout the supply chain, and buyers are no exception. Preliminary results of Global Purchasing’s 2015 Purchasing Profile and Salary Survey show that the IoT is affecting the purchasing department in two important ways:

  • First, buyers say growing demand for IoT products and applications is placing greater emphasis on their own product knowledge. The need to source a wider variety of products means they must get up-to-speed on new or different components than they are accustomed to purchasing. Nearly 40% of the more than 700 respondents to the 2015 survey cited the need for new product knowledge.
  • Second, buyers say the IoT trend will affect their profession directly by streamlining the purchasing function. Down the road, they say they expect the trend to increase communication and connectivity across the supply chain. More than 70% of respondents said they expect IoT trends to streamline the purchasing function.

For many, the IoT is the next phase of Internet technology, connecting billions of products, functions, and services to the Internet. Global Purchasing asked buyers about how the technology is affecting their profession as part of our annual Profile and Salary Survey for the first time this year. The information makes up a small part of the survey, which polls purchasing executives on salary, workforce, and other professional trends and issues. The 2015 Purchasing Profile and Salary Survey will be published in October. Visit Global Purchasing’s Resource page for a look at the 2014 survey.

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