SOURCE: Spend Matters

October 20, 2008 09:59 ET

Cost Savings 101: Spend Matters Report Analyzes Procurement Training and Certification Options

Study Finds Options Have Improved and Can Help Individuals and Companies Learn Valuable Skills to Save Money in Today's Economic Climate

CHICAGO, IL--(Marketwire - October 20, 2008) - Spend Matters, the leading procurement and supply chain blog and research hub, today announced the publication of a research report titled, "What is Your Best Option? Procurement Certification and Training Today."

Based on interviews with a range of practitioners, associations and industry influencers, the report includes profiles and analyses of the certification programs offered by the Institute for Supply Management (including the new CPSM certification), Next Level Purchasing (SPSM) and the American Purchasing Society (CPP, CPPM).

The study also investigates executive education programs and other options (e.g., online training courses). It also evaluates the general value of pursuing different types of training and certification initiatives, the specific skill sets that individuals can gain and the relative cost/benefits of each program.

Jason Busch, Spend Matters Editor, suggests that, "The cost and risk reduction skills that procurement training and certification can teach represent a smart investment in the current economic downturn."

According to the study, less than 10% of the procurement workforce in North America has a certification or has completed a degree program in the subject area. But academic study is not essential to develop the right set of skills. The report notes that, "Procurement certifications can represent not only excellent value from both time and cost investment perspectives for existing members of the profession -- they can be invaluable springboards for those just getting into the procurement field."

This latest Spend Matters report attempts to cut through much of the confusion in the sector, providing an objective comparison of the available options. "It will be useful for both managers investigating which training and certification approaches to consider for their team as well as individuals evaluating options to enhance their professional opportunities and improve their skill sets," Busch suggests.

Readers can download this free report and other complimentary research studies directly from the Spend Matters website: http://www.spendmatters.com/pages/perspectives.cfm

About Spend Matters

Spend Matters is a blog and research community dedicated to examining a range of procurement and supply management issues. Founded in 2004, http://www.spendmatters.com is the longest running and highest trafficked social media site in the sourcing and supply chain realm.

Contact Information

  • Media Contact:
    William Busch
    215-508-7414