A recent CIPS study, which examined attitudes towards the procurement sector, showed that the top concern for 40% of buyers was strengthening their profile within business.

The issue of ethical and sustainable purchasing was also important for 15% of respondents because "economic climate changes pose serious threats to supply chains and profit margins," CIPS reported.

Some 45% of buyers also think the top business benefit of professional purchasing is its improvement of overall business efficiency levels, ahead of cost-cutting and improved supplier relationships.

CIPS senior procurement specialist Emma Brooks said: "In some industries, the procurement profession is well established but in others it's in its infancy.

"We are working to build the profiles of procurement professionals, focusing on leadership skills," she added.

On the subject of ethical and sustainable purchasing, Brooks argued these issues can become mechanisms for buyers to communicate with companies at higher levels.

"Firms can't afford to ignore the topics of the environment and ethical purchasing because of the impact they have on their brands," she explained.

"Companies also need to avoid rising costs. It is here, through dealing with these issues, that procurement teams can get themselves noticed at board level."

She added: "These times are exciting for the procurement industry. It is the sector's time in the spotlight as it is now on the agendas of most chief executives."