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A recent interview I conducted with a former Chief Procurement Officer who has worked for over 25 years in procurement in various industries captures what I believe is the true opportunity that exists for supplymanagement executives. Marketing and IT see this to some extent, but not like procurement.
A CPO in the financial services industry also noted that a need to redefine procurement’s role in the enterprise is happening, driven by the recognition that a new type of procurement capability is needed: Prior to our transformation, the ONLY metric by which our performance was measured is how much money we saved for the organization.
As part of the conference, I’m delivering a talk on five predictions that every procurement professional should consider. These aren’t so much “predictions”, as opportunities that procurement professionals should become aware of, and educate themselves on.
Relationship management, data modeling, problem solving, sourcing analysis, negotiation, data-driven decision-making, metrics development, forecasting, process flow, BOM understanding, MRP/production schedule, Pareto analysis, and information presentations are all key skills that he applies in his CPO role.
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